Applications are now open for African Union Summit on Industrialization and Economic Diversification will be convened under the theme “Industrialising Africa: Renewed commitment towards an Inclusive and Sustainable Industrialization and Economic Diversification”.
Since 2018, the Africa Industrialization Day has been commemorated with weeklong events, marking a departure from the one-day tradition, and which affords more time to reflect and accelerate actions towards Africa’s structural transformation, as an enabler to meet the objectives of Agenda 2063, and SDGs, 2030.
The specific objectives of the African Union Industrialization and Economic Diversification Summit are:
- Decide on a renewed continental policy framework on Africa’s industrialization aimed at rallying the continent’s resolve and commitment to a bold set of policy and investment actions to accelerate the continent’s industrialization drive.
- Reinforce the development of regional industrial value chains to clearly articulate Africa’s quest to industrialize, create jobs and entrepreneurship opportunities for Africa’s MSMEs, youth and women within the context of current and emerging continental and global socio-economic trends.
- Provide high-level political support to drive a globally competitive Africa-Industrialisation program through public-private alliances, at the national, regional, continental level, and aligned global policy coherence, coordination and linkages, investment financing. This should take full cognizance of current and emerging key cross-sector needs including energy and water, education and training, Science-Technology and Innovation, climate change, environmental resilience and crisis management.
The Summit on Africa’s Industrialization and Economic Diversification will be convened under the theme “Industrialising Africa: Renewed commitment towards an Inclusive and Sustainable Industrialization and Economic Diversification.”
- Operationalization of the AFCFTA. The Nexus with Industrialization.
- Covid-19 and new Narrative Toward Accelerated Industrialization .
- IDDA III and Africa’s Industrialization Agenda
- Industrialization for Sustainable Development in Africa.
- Several Areas of Discussions will feature at the summit .
- Industrialization and the AfCFTA – realizing the inter-dependencies : How to practically bring Africa-Industrialisation (manufacturing and tradeable services) and the AfCFTA (markets and trade) mutually reinforcing each other
- Industrialisation, government fiscal capacity and creating jobs : Africa-Industrialisation – in expanding the continent’s fiscal capacity (ie contribution to GDP) as well as creating jobs and entrepreneurship opportunities for Africa’s youthful populations
- Technological innovations, organizational capacity in driving enhanced and competitive Industrial performance : Africa’s Industrial capabilities (Industry 4.0 readiness, organizational efficiency, skills) in Africa’s economic sectors – Mining, Tourism, ICT, and Financial Services, Arts and Culture, Agro-Industry, Fisheries , Aquaculture and Marine Industries.
- Regional industrial value chains : Leveraging Regional Value Chains to optimize the continent’s industrial capability along AfCFTA implementation
- Partnerships and Alliances to deliver on Africa Industrialisation: Rallying Domestic and International Public-Private partnerships for enhanced planning and Implementation capabilities for accelerated-expanded industrial growth in Africa.
- Africa Industrialization – multi-/cross-sector approaches as key condition for success: Aligning key cross sector conditions and policies for success: Energy Security, Institutions, Polities and legislation, Human capital – skills and intellectual capacity, Environmental resilience and Climate change (Green Industries)
- Youth and Women-led MSMEs in driving success in Africa Industrialisation: Africa-Industrialisation and special cross-cutting drivers for sustainable success: Youth, Micro-, Small Medium Enterprises, Women, Competitiveness, urban-rural transitions,
- Resource governance and leveraging financial and non-financial resources into Africa-Industrialisation : De-risking Africa-Industrialisation, catalysing domestic and international investments, technology transfer and local innovations to leapfrog Africa’s industrial growth
- Indigenous knowledge and Africa’s Industrialization : Protecting African indigenous knowledge with Intellectual Property Rights to integrate into Africa’s industrialization
- Medical product industries in post COVID-19 area : with a special focus on Pharmaceutical industries.
- Several Areas of Discussions will feature at the summit .
Upon the conclusion of the Summit, there will be a Declaration by Heads of State and Government. The Summit will also be an opportunity for;
- Renewed high level political resolve and commitment to accelerate Africa’s Industrialization alongside advances on the AfCFTA provisions
- Policy decision for an AU-led broad-based, cross-sector consultation to develop an up-to-date, implementable and results-based Africa-Industrialisation Policy Framework, embracing gains and lessons from the continent’s experiences, taking cognizance of current and emerging global trends, with particular attention to the continent’s inclusive social and economic development priorities; and
- Agreement on a Compact between governments and Africa’s private sector, academia and the civil society to bring about desired and aligned policy decisions, investment financing, institutional and human capital dedicated towards Africa-Industrialisation, to boost prospects for the AfCFTA implementation.
- The Summit on Africa’s Industrialization and Economic Diversification will bring together the African Union Commission and the organs; Heads of State and Government; African Ministers responsible for industry, trade, mining and investment and other relevant ministries; Heads of international development institutions including the UN agencies; Chief Executives of Regional Economic Communities; Regional and International Development Finance Institutions; representatives of the private sector, civil society, youth, women and other stakeholders involved in the industrialization of the continent.
For more information, visit https://au.int/en/summit-africa-industrialization-economic