Eca - Victoria Falls — Industrialization is as much an economic as it is a political project and requires unorthodox thinking, difficult policy choices, innovation and creativity.
Speaking at the official opening of the 21st Session of the Intergovernmental Committee of Experts (ICE) on Accelerating Industrialization in Southern Africa through Beneficiation and Value Addition, ECA Southern Africa Regional Director Said Adejumobi said that industrialization is a political project with an economic strategy, "It is about making correct policy choices, creating the necessary institutions and incentives and summoning the political will to do things in the most unconventional ways." Adejumobi said that the African youth will have to be a major part of that unorthodox thinking in Africa's path to the future.
The 21st ICE is convened by ECA Southern Africa Regional Office and hosted by the Government of Zimbabwe in Victoria Falls from 12-13 March 2015.
Meanwhile, the Government of Zimbabwe says that the unstable global environment is negatively affecting Africa's efforts to address poverty, unemployment and inequality. Permanent Secretary for the Ministry of Finance and Economic Development, Munango, says that the marginal recovery of the world economy in 2014 continues to undermine Africa's overall growth "The continent's growth rate of 3.5 percent in 2014 is still way below the pre-economic crisis levels." Munango called for diversification from the export of raw materials to value added products. "The reason is simple; value addition, beneficiation and industrialization create jobs, linkages and contributes to reducing poverty and inequality" he said.
Speaking at the same meeting, Africa Union Regional Delegate to Southern Africa, Salif Sada Sall in his opening remarks said that Africa's Development Agenda 2063 had singled out value addition and beneficiation as one of the key priorities. He called for Africa to scale down on exporting raw materials, expressing concern that African industries still remained the world's least competitive and productive with the Manufacturing Value Added as a percentage of GDP remaining very low at 12-14%. "As regards to the percentage of world Manufacturing Value Added, Africa stands at 1.5% compared to east Asia at 17.2%, Latin America 2.8%, North America 22.4% and Europe at 24.5%.
Sall cited several continental development initiatives including the African Mining Vision, the Accelerated Industrial Development of Africa and the African Agro-business and Agro Industries Development Initiative.
The ICE is a UN statutory annual meeting which brings together experts from Southern Africa and the continent to discuss current pressing issues affecting the social and political economy of the Southern African region. The ongoing ICE has attracted experts and a wide pool of stakeholders from member States, private sector, academia, international development organizations and civil society.
The focus is on industrialization, beneficiation and value addition a current and recurring subject in Southern Africa. The meeting will advance the recommendations made the by the last SADC Head of State Summit in August 2013 in which they requested for a clear roadmap to accelerate industrialization in the region.
An issues paper 'Accelerating Industrialization in Southern Africa through Beneficiation and Value Addition' forms the main document for discussion and review. The recommendations from the meeting will be presented to the Conference of Ministers an annual gathering of ministers responsible for finance and planning on the continent in March 2015.
