Greening industrialization: Rationale and concepts

African countries need to industrialize to increase incomes, create employment, raise value-added activity and diversify their economies. Industry has traditionally been a central source of generating employment—in developed and developing countries. In Africa, though, high rates of economic growth over the past decade have not translated into the structural transformation of the economy required. Manufacturing, also, has not made the expected contribution to aggregate output, trade or gross domestic product growth (ECA, 2014). African income levels are the lowest in the world, with 34 African nations among the least developed countries.

Related Subject(s): International Trade and Finance