Reframing Africa's industrialisation beyond export-oriented narratives

Africa's industrialisation has long been viewed through the lens of global export markets, but there is a growing recognition that this narrative overlooks the diverse needs of the continent. In a recent interview with Fadhel Kaboub, President of the Global Institute for Sustainable Prosperity, the conversation shifted towards a more holistic approach to industrialisation that focuses on regional integration, human capital development, and local technological innovation. Kaboub highlighted the need for Africa to move away from being a source of cheap materials and low-value manufacturing, towards building economies of scale that cater to the continent's unique challenges. He emphasized the importance of collective action among African countries to harness their abundance of critical minerals, young labor force, and complementarity of resources. Kaboub outlined a three-pronged strategy to unlock Africa's industrial potential, calling for government commitment, patient investors, and a reevaluation of the role of credit rating agencies. By leveraging South-South cooperation, prioritizing local manufacturing needs, and creating an enabling environment for SMEs, Africa can position itself as a powerhouse for the 21st century. The interview also delved into the relevance of traditional concepts of competitiveness in the face of automation and the imperative to prioritize development over conventional industrial metrics. Kaboub underscored the need for policy reforms that lay the foundation for long-term strategic vision and coordinated efforts across the value chain. He emphasized the role of governments in facilitating joint ventures, mobilizing technology, and engaging stakeholders to ensure a cohesive and inclusive approach to industrialization. Despite external narratives framing Africa's industrialization within global policies, Kaboub's insights signal a shift towards a people-centered industrial strategy that empowers the continent to define its path towards sustainable prosperity.