‘Join forces’ for peace, continent busi, urges UN chief on African Industrial Day |
In his message commemorating the Day, Secretary-General António Guterres warned that countries across Africa are facing a “perfect storm”.
He mentions military conflicts; food security and energy security; “sky” inflation and debt; reducing financial space; and mounting climate disasters.
However despite these challenges, the top UN official reminded that Africa with some of the fastest growing economies in the world has the potential to lead in the global energy transition.
Harness power
To achieve inclusive, resilient, and sustainable industrial development in Africa, he explained that multi-stakeholder collaboration is needed – including supportive public-private partnerships.
“The creation of a new financial system with greater access to finance and a lower cost of capital is the key to unlocking investments at scale”, highlighted the Secretary General.
He emphasized the need to “work together” to boost entrepreneurship, harness the power of new technologies, expand opportunities for youth, women and girls, build climate resilience, and promote competitiveness and entrepreneurship.
Furthermore, he continued, “we must also work together to realize the goals of the African Free Trade Area, the African Agenda 2063, and the 2030 Agenda for Sustainable Development”.
Full growth
Industrial development is important for economic growth and development in African countries, stresses the UN.
By introducing new equipment and new processes, a company can increase productivity, increase the capabilities of employees, and generate employment.
And with strong links to domestic economies, industrialization will lead African countries to achieve high growth rates, multiply their economies and reduce their exposure to external shocks – contributing significantly to poverty alleviation through employment and wealth creation.
Africa-Industrialization drive
The United Nations Organization for Industrial Development (UNIDO) draws attention to the African Industrial Conference on Industrial Development and Diversification of Africa, which starts on Sunday and runs until Friday.
The forum aims to bring together political influence, resources, partnerships and partnerships towards driving an African industry.
This coincides with the continent’s determination to push structural change by taking advantage of Africa’s rich and abundant natural resources, while at the same time allowing for advances in technology, global socio-political trends and the emergence of business activities.
“Supporting industry with strong links to domestic economies will help African countries achieve high growth rates, diversify their economies, reduce food insecurity and reduce their exposure to external shocks” the UN Development Program (UNDP) Representative in Ghana, Angela Lusigi, said on Twitter. .
A worker repairs the wheel of a large truck at a uranium mine in Namibia.
Planning the day
Within the framework of the Second Industrial Development Year for Africa – from 1991 to 2000 – the General Assembly, declared 20 November as “African Industrial Development Day”.
Since then, the UN Program has held events on that day all over the world to raise awareness about the importance of African industrialization and the challenges that the continent faces.
