“Africa must stop exporting raw materials. Exporting raw materials is the gateway to poverty. Exporting value-added products is the highway to wealth,” he wrote, underscoring the strategic importance of industrialization in achieving sustainable economic growth.
According to data from the Office of the United States Trade Representative and other global institutions, Africa contributes less than two percent to global manufacturing output—an alarming figure considering the continent’s abundant natural wealth in sectors such as agriculture and mining.
This limited industrial presence has significantly curtailed Africa’s influence in the global economy. Dr. Adesina noted that by investing in industrial capacity and processing its own raw materials, Africa could not only diversify its economies but also generate employment opportunities and boost foreign exchange earnings.
“Developing local industries and adding value to our resources will empower the continent economically and help rewrite Africa’s role in the global value chain,” he concluded.