The industrial 'elites' of Africa🌍
Hello Venturer,
Are you watching the World Cup? Usually, my favourite thing about the event is the colourful display of unity. But this year, it is the unpredictability of the game.
Countries like Cameroon and Morocco have shown that there are no "world powers” or “great powers” in soccer. Only opportunities. And as long as you utilize those opportunities, the world is at your Messi. See what I did there?
This seems to be the case with economic development around the world. Sometimes the countries with a lot of potential and capacity don't get tagged “advanced” or “developed”. Look at Africa. The continent has always had the potential to expand its industrial capacity. It houses the world's youngest population and an abundance of natural resources, yet remains at the bottom of the global value chain with its share of global manufacturing at around 1.5%.
Fortunately, just like the World Cup, some countries have begun exploring their industrial opportunities. This week we explore Africa's top most industrialized countries in 2022. Perhaps the tag “world power” is in the future of one of these African countries.
Suotunimi Orufa
Writer, Ventures Africa.
What's New
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A new report by the African Development Bank (AfDB), the African Union and the United Nations Industrial Development Organization (UNIDO) shows that 37 African countries have industrialized in the last decade, howbeit slowly. The report, titled “Africa Industrialization Index 2022,” captures the continent’s progress with industrialization at the country level over recent years. Learn more.
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