The AUC, OSAA, ECA, and UNIDO have issued a joint communiqué arguing for the importance of industrialization and urbanization for African development.
Africa has seen remarkable economic growth since the turn of the millennium. It has become the second fastest growing region in the world and continues on this path despite the persistent global economic slowdown. There is still need to accelerate annual economic growth to more than 7% to effect real economic transformative growth. To be sustainable and inclusive, this progress must now be accompanied by structural transformation, which remains the only option to lift the people of Africa out of poverty. To fully benefit from its rich natural resources and to reap the benefits of the demographic dividend, Africa must industrialize. Heavily investing in the training and education of women and youth is indispensable. In order to achieve inclusive and sustainable industrialization, we must embark on a skills revolution particularly in the areas of science, technology, engineering and mathematics.
Click here to download the communiqué.
