DAR ES SALAAM, TANZANIA | Xinhua | The history of modern economic development reveals that industrialization is essential for achieving modernization. As partners in this regard, China and Africa possess complementary advantages and substantial potential for industrial cooperation. From infrastructure projects, industrial parks to talent grooming programs, China-Africa cooperation is …
Read More »Grand infrastructure projects aren’t a magic bullet for industrial development-Kenya and Ghana
In both cases, improved connectivity failed to catalyse industrialization and instead encouraged land speculation as it opened up new spaces to real estate investment Kampala, Uganda | AGENCIES | The African Union’s flagship Agenda 2063 initiative prioritises large-scale infrastructure development and promises to “link the continent by rail, road, sea and …
Read More »China-Africa expo to drive economic reform, promote industrialization in Ethiopia: official
Addis Ababa, Ethiopia | Xinhua | The upcoming China-Africa Economic and Trade Expo will be an impetus for strengthening Ethiopia-China economic ties and advance the East African country’s strive for industrialization, an Ethiopian official has said. Deputy Commissioner of the Ethiopian Investment Commission (EIC) Daniel Teressa said Ethiopia envisaged to take …
Read More »Implementation of AfCFTA pact to help boost intra-African trade: UNECA chief
Addis Ababa, Ethiopia | Xinhua | The implementation of the African Continental Free Trade Area (AfCFTA) agreement should be expedited as the free trade zone will boost intra-African trade and accelerate industrialization, the UN Economic Commission for Africa (ECA) Acting Executive Secretary Antonio Pedro has said. “While the AfCFTA’s promise is …
Read More »Small African economies industrialising fastest
Smaller African countries are punching beyond their weight to diversify their economies from agricultural dependence, a new report shows. Nairobi, Kenya | BIRD AGENCY | A new report shows that value-add factories and public-private partnership are helping small African countries industrialize much faster than their larger peers. The recently …
Read More »AU calls for pragmatic interventions to inject dynamism to Africa’s industrialization
Addis Ababa, Ethiopia | Xinhua | Albert Muchanga, African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals has called for pragmatic interventions to inject dynamism into Africa’s inclusive and sustainable industrialization. The AU commissioner made the remarks at the joint meeting of African ministers in charge of industry and …
Read More »African countries urged to harness nexus between industrialization, continental free trade
To achieve the aspirations of the AfCFTA, Africa’s industrialization and transformation agenda need to be supported at the highest national, regional, continental and global levels Addis Ababa, Ethiopia | Xinhua | The African Union (AU) has called on African countries to mutually reinforce the African Continental Free Trade Area (AfCFTA) Agreement …
Read More »Museveni calls for amendment of Umeme Act for manufacturers to access cheap electricity
Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has said he will engage the Speaker of Parliament to fast-track the amendment of the Umeme Act, and ensure that electricity goes directly from generation to the industrial consumer to spur economic growth through industrialization. “Power should go directly from generation to …
Read More »EAC bloc urged to expedite review of common external tariff to promote trade
Arusha, Tanzania | Xinhua | Member states of the East African Community (EAC) have been urged to expedite the comprehensive review of the EAC Common External Tariff (CET) in order to promote trade and industrialization in the region, the EAC said in a statement released on Monday. Betty Maina, chairperson of …
Read More »Afrexim bank commits 1.2 bln USD to fund industrialization in Africa
Nairobi, Kenya | Xinhua | The Africa Export Import (Afrexim) Bank has committed 133 billion shillings (about 1.2 billion U.S. dollars) to fund industrialization in Africa, the bank said on Thursday. Maureen Mba, head of MANSA Initiative, Afrexim Bank told Xinhua in Nairobi that the funds will be made available to …
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