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New report by African Development Bank, partners finds that 37 African countries have industrialized in last decade

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3 years ago

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African Development Bank

Top performers not necessarily those with the biggest economies, but countries that generate high manufacturing value-added per capita

ABIDJAN, Ivory Coast, November 25, 2022/APO Group/ — 

Thirty-seven of 52 African countries have become more industrialized over the past eleven years, according to a new report from the African Development Bank (www.AfDB.org), the African Union and the United Nations Industrial Development Organization (UNIDO).

The Africa Industrialization Index (AII) report provides a country-level assessment of 52 African countries’ progress across 19 key indicators. The report will enable African governments to identify comparator countries to benchmark their own industrial performance and identify best practices more effectively.

The African Development Bank, the African Union and UNIDO jointly launched the inaugural edition of the AII on the sidelines of the African Union Summit on Industrialization and Economic Diversification in Niamey, Niger.  

Scoring industrialization across a range of metrics 

The Index’s 19 indicators cover manufacturing performance, capital, labor, business environment, infrastructure, and macroeconomic stability.  The index also ranks African countries’ industrialization across three dimensions: performance, direct determinants and indirect determinants.  Direct determinants include such endowments as capital and labor and how these are deployed to drive industrial development. Indirect determinants include enabling environmental conditions such as macroeconomic stability, sound institutions and infrastructure.

South Africa maintained a very high ranking throughout the 2010-2021 period, followed closely by Morocco, which held second place as of 2022. Rounding out the top six over the period are Egypt, Tunisia, Mauritius, and Eswatini.

Abdu Mukhtar, African Development Bank Director for Industrial and Trade Development, represented the institution at the launch event.  He said that while Africa had shown encouraging progress in industrialization over the 2010-2022 period, the Covid-19 pandemic and Russia’s invasion of Ukraine had set back its efforts and highlighted gaps in production systems. “The continent has a unique opportunity to sort out this dependency by further integrating and conquering its own emerging markets.”

He added: “The African Continental Free Trade Area is creating a once-in-a-lifetime single market opportunity of 1.3 billion people and total aggregate consumer and business spending of up to $4 trillion creates an opportunity to enhance their trade and production linkages and finally reap industrial competitiveness from regional integration as other regions have done.”  

In the pharma sector alone, we intend to spend at least $3 billion by 2030

The African Development Bank has invested up to $8 billion over the past 5 years under its Industrialize Africa High-5 priority. “In the pharma sector alone, we intend to spend at least $3 billion by 2030,” Mukhtar said.  

Building productive industry will be integral to Africa’s development, offering a path to accelerated structural transformation, creating formal jobs at scale and inclusive growth. However, Africa’s share of global manufacturing has declined to the current level of less than 2%. More proactive industrial policies are seen as critical to reversing the trend, but these are knowledge-intensive and require a detailed understanding of the constraints and opportunities that each country faces.

Manufacturing value-added more important than size of economy

Among the report’s other key findings:

  • During the coverage period,  Djibouti, Benin, Mozambique, Senegal, Ethiopia, Guinea Rwanda, Tanzania, Ghana, and Uganda all improved by five or more places in the rankings. 
  • The top performers are not necessarily those with the biggest economies, but those countries that generate high manufacturing value-added per capita, with a substantial proportion of manufacturing goods bound for export;
  • North Africa remains the most advanced African region in industrial development, followed by Southern Africa, Central Africa, West Africa and East Africa.

Synergies with the African Industry Observatory

The Africa Industrialization Index was one of two new tools presented during the event. The second—and complementary— African Industry Observatory, unveiled by UNIDO and the African Union, will serve as a central online knowledge platform to collect, analyze and consolidate the quantitative data needed for qualitative analyses of national, regional and pan-continental industry trends, forecasts and comparisons.  

Chiza Charles Chiumya, the African Union Commission’s Acting Director for Industry, Minerals,  Entrepreneurship & Tourism, said, “These tools are going to greatly enhance our industrial policymaking as well as help to bring in the required focus that industrialization needs both from policymakers as well as the private sector, who will now clearly see where the continent has opportunities.”  Chiumya was representing AU Commissioner for Trade and Industry Albert Muchanga.

“The African Industry Observatory and the Africa Industrialization Index will help consolidate cross-institutional cooperation, strengthen each institution’s policy dialogue influence for accelerating industrial development and an enhanced knowledge of industrial development dynamics,” said Victor Djemba, Chief of UNIDO’s Africa division.

The African Union Extraordinary Summit on Industrialization and Economic Diversification and  African Union Extraordinary Session on the African Continental Free Trade Area are currently taking place in Niamey, Niger,  through 25 November 2022. The  Summit’s theme is: Industrializing Africa: Renewed Commitment towards Inclusive and Sustainable Industrialization and Economic Diversification.

Download the report in English (http://bit.ly/3OywD5M) or French (http://bit.ly/3gAropK)

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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2 days ago

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February 6, 2026

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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2 days ago

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February 6, 2026

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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2 days ago

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February 6, 2026

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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