Africa Industrialisation Day was marked yesterday. In addition to signifying renewed hope for Africa’s future, it was an opportunity to mobilise the commitment of the international community to the industrialisation of the continent.
Current growth trends point to Africa’s rapid industrialisation, which puts the continent on the path to attaining “first world” status if it sustains a two per cent annual growth rate over the next three decades.Experts predict that Tanzania’s economy will be larger than the current one of Switzerland, Turkey, Indonesia, Korea and Mexico by 2050 if the country sustains its current growth rates.
This year’s Africa Industrialisation Day highlighted the important role intra-African trade can play in reducing poverty, increasing food and nutrition security and supporting sustainable development.
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