Industrialization crucial for structural transformation in Africa

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Economic Development

Industrialization crucial for structural transformation in Africa

13 October 2014

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2014-10-13

Maged Abdelaziz. UN Photo/Rick Bajornas

Maged Abdelaziz. UN Photo/Rick Bajornas

Industrialization crucial for structural transformation in Africa

Industrialization is crucial for Africa to grow, according to the United Nations Special Advisor on Africa who is presenting the2014 Economic Report on Africa at UN Headquarters on Friday.

Maged Abdelaziz feels strongly that Africa isn't maximizing its potential because not all industries in a particular country are developing concurrently.

He says it's shameful that trade between African countries is only 11.2 per cent of the overall trade of Africa—but this could change with the plan to have an overall economic zone in Africa by 2023.

Stephanie Coutrix asked Mr. Abdelaziz to highlight the most important lessons of the new report.

Duration: 3'22''

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