What does the future of Africa look like?
In “The Future of Africa: Sustainable Development and Innovation” we will have a closer look at two of the most important trends that will shape the economic future of Africa: sustainable industrialization and digital innovation.
We want to mark with you the Africa Industrialization Day 2020, and to celebrate the extraordinary improvements that have taken place in the African continent in the last years.
But first of all…. What is the Africa Industrialization Day?
Observed for the first time on November 20, 1990, it was proclaimed by the UN General Assembly to raise awareness about the importance of Africa’s industrialization to enhance the socio-economic development of the continent. Since then, each year has focused on a specific topic related to industrialization in Africa.
– On the road to the future of Africa: Sustainable Development & Industrialization
In the past 20 years, the African continent has seen a stark improvement concerning its economic growth. Once associated with poverty and conflict, it is currently home to 5 of the 10 fastest-growing economies in the world. Moreover, it is characterized by rapid urbanization growth. Just imagine that by 2050, 56% of its population will live in cities.
However, economic growth means very little if it does not benefit society as a whole. Now it is the perfect time to impulse an inclusive and sustainable industrialization process. It helps to foster social stability, new economic opportunities, and development for all of its citizens.
Especially with the ongoing climate crisis, the future of industrialization looks green, and several African countries have already understood that.
For example, the world’s largest solar farm is located in Morocco, and many experts agree with the fact that African governments will reach prosperity and establish themselves as a superpower on the global market by becoming climate leaders.
But sustainable development initiatives are not limited to the North of Africa: South Africa, Mauritius, and Seychelles are leading the way to the development of innovative blue economy initiatives, with Nigeria, Ghana, and Kenya following the lead. Moreover, different projects in the area of renewable energy, bio-ethanol production, green agro-industrial value chains, and the creation of eco-industrial parks have proliferated in many African countries.
-On the road to the future of Africa: Digital innovation
But the future of Africa is not related only to industrialization. According to an article published by the World Economic Forum, Africa is undergoing an outstanding digital revolution process. In 2019, there were already 442 tech hubs in the continent. South Africa (59), Nigeria (55), and Kenya (30) were leading the Fourth Industrial Revolution.
In particular, with its fast-growing digital ecosystem, Kenya has already conquered a spot on the global map of digital innovation. You can check this article for examples of different projects that will show you that the sky is the limit for the digital revolution of this country. You will find projects as training in technology and entrepreneurship for women from a poor economic background.
In this environment characterized by a fast-growing use of digital innovation, top African start-ups will play a crucial role in creating some of the 18 million jobs needed by 2035 to absorb the youth force entering the job market every year.
To sum up
There is still a long road ahead, but the future of the African continent looks promising. Only a sustainable and innovative approach to industrialization will make sure African countries can reach their full potential.
We hope you found our new article “The Future of Africa: Sustainable Development and Innovation” interesting. You can join us in celebrating the #AfricaIndustrializationDay by checking all the initiatives we have planned for today. We have invited one of our students to share his opinion on the future of Africa. For more info, check our social media channels Facebook, Instagram, Twitter, and LinkedIn.