AfDB: Africa needs to build local value chains to grow trade
Investment in Africa’s value chains will be a game-changer for developing economies if well harnessed. CNBC Africa’s Kenneth Igbomor spoke to Swazi Tshabalala, Senior Vice President, African Development Bank for more.
Thu, 09 Nov 2023 10:42:34 GMT
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AI Generated Summary
- The imperative need for Africa to harness local value chains to navigate economic challenges and capitalize on opportunities
- The role of infrastructure development and technology in enhancing Africa's capacity to leverage its natural resources for economic development
- Exploring innovative models for public-private collaborations and platforms to mobilize private sector financing and drive investment in key sectors
Africa's economic future hinges on the development of local value chains to drive trade and growth. The African Development Bank (AfDB) is at the forefront of advocating for investment in value chains to revolutionize the continent's developing economies. In a recent interview with CNBC Africa, Swazi Tshabalala, Senior Vice President of AfDB, emphasized the critical need for Africa to unlock its value chains, particularly in light of global disruptions like the COVID-19 pandemic and geopolitical events. Tshabalala underscored the importance of leveraging crises as opportunities to reinforce economic development strategies. He highlighted the significance of developing value chains beyond agriculture to encompass various sectors and industries. The focus on value chains is poised to enhance Africa's economic resilience and ensure sustainable growth amidst challenges like food security concerns and global supply chain disruptions.
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