COMMODITY-BASED INDUSTRIALIZATION KEY TO LONG-TERM DEVELOPMENT IN AFRICA – UN REPORT

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From: UNNews <UNNews@un.org>
Date: 23 Apr 2013 19:00:00 -0400
Subject: COMMODITY-BASED INDUSTRIALIZATION KEY TO LONG-TERM
DEVELOPMENT IN AFRICA – UN REPORT
To: news11@ny-mail-p-lb-028.ptc.un.org

COMMODITY-BASED INDUSTRIALIZATION KEY TO LONG-TERM DEVELOPMENT IN
AFRICA – UN REPORTNew York, Apr 23 2013 7:00PMSweeping political and
economic changes over the last half century have set the stage for
Africa's emergence as a global economic power, and the continent
should take advantage of that opportunity through a commodity-based
industrialization strategy, according to United Nations economic
report launched today.

"Massive industrialization based on commodities in Africa is
imperative, possible, and beneficial", states the 2013 edition of the
Economic report on Africa, co-authored by the United Nations Economic
Commission for Africa (ECA) and the African Union and launched at an
event at the UN's New York Headquarters this afternoon.

The report, entitled
<I><"http://www.uneca.org/sites/default/files/publications/unera_report_eng_final_web.pdf">Making
the most of Africa's Commodities: Industrialization for Growth, Jobs
and Economic Transformation</I>, argues that Africa needs to frame
specific policy for commodity-based industrialization for each country
to ensure initiatives that foster linkage development and accelerate
that process, through leveraging Africa's abundant resources and high
commodity prices and the changing global production process.

Individually and collectively, African countries must embark on a
"bold transformation" towards a commodity-based industrialization
strategy would allow the continent to take charge of its own
development, the report says, which is necessary if African countries
are to be able to address youth unemployment, poverty and gender
disparities, and other challenges it faces.

The report also sets out ways African countries can design and
implement industrial and other development policies to promote value
addition and economic transformation, and to reduce their dependence
on producing and exporting unprocessed commodities.

"Making the most of Africa's commodities requires appropriate
development planning frameworks and effective industrial policies that
are evidence based and take into account what influences linkage
breadth and depth, as well as the structural and country-specific
linkage drivers," the report says.

It also maintains that by adding value to their raw materials locally,
African countries can bring about diversification of technological
capabilities, an expanded skills base and deepened industrial
structures in individual countries.

The primary data were collected and country case studies prepared for
nine African countries in the five subregions—Algeria, Cameroon,
Egypt, Ethiopia, Ghana, Kenya, Nigeria, South Africa and Zambia.

While some of those nations have made modest progress in forward and
backward linkages to their commodity sectors, others still have some
ground to cover, according to the report, which adds that
interventionist state policies and continental initiatives could help
improve the situation.

To further boost current levels of linkages, the ECA-AU report calls
for urgent moves to reduce the infrastructural constraints and
bottlenecks on the continent. It also recommends improved policy
implementation through coordination among relevant ministries in order
to reduce the incidence of coordination failure, which has for long
plagued the continent.Apr 23 2013 7:00PM
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