The Results of the African Industrialisation Summit, 20 November
The lack of industry infrastructure and the inadequate development capital needed by countries to position themselves to compete with others in the global value chains requires a multi-faceted, coordinated and cross-cutting approach to achieve the necessary structural adjustments that are fit for purpose for Africa’s specific contextual complexities. The Summit recognised the need to acknowledge that Africa’s limited industrialization base as the continent represents a missed opportunity for economic transformation and quality employment generation. Therefore, one of the most critical tasks lies in the expansion of job opportunities for workers in productive and decent paying jobs through strengthened industrial development. This is particularly true for women and youth sectors. Informal jobs in Africa account for 70% of employment in the agriculture and extractive industries sectors. The informal employment contributes alot to African countries’ GDP, with 9 out of 10 informal workers being women.
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