EVENT: Africa Day 2018: Sustainable Industrialization in Africa
DATE: November 22, 2018
VENUE: Sheraton Addis Hotel, Addis Ababa, Ethiopia
ADDIS ABABA (Semonegna)–Africa Day, a conference on Sustainable Industrialization in Africa, hosted by the European Investment Bank (EIB) in partnership with the United Nations’ Industrial Development Organization (UNIDO), is taking place on 22 November in Addis Ababa, Ethiopia. The topic at the top of the list will be sustainable industrialization, an important step in the development of diverse economic growth in Africa.
Africa Day will examine why sustainable industrialization is increasingly topping the policy and business agenda in African countries. It will explore how industry in Africa can become more appealing for European and African companies. Where are the opportunities for private investment in sustainable industrialization? How can sustainable industrialization help young entrepreneurs and women?
UNIDO’s Director General Li Yong and EIB’s President Werner Hoyer were present at Africa Day event in Addis Ababa to debate how international, EU and African partners can break down barriers and support Africa’s sustainable Industrialization.
◌ IMF’s Sub-Saharan Africa Economic Outlook : Ethiopia’s recent policy changes will help GDP growth
President Werner Hoyer of EIB, on his Africa Day opening speech stresses the the undeniable need of shift from aid to investment for Africa’s development as well as job creation in the continent. Mr. Hoyer said that support projects from EIB and UNIDO have strong impacts for Africa’s population as well as future generations of the continent. he said, ‘we invest in people and universities. Africa needs more investment in human capital to thrive.’
Director General Li Yong, on his part, highlighted some facts related to manufacturing sector and industrialization in Africa, and said that Africa’s growth in manufacturing significantly higher than the world average and more should be done to make this growth inclusive and share prosperity. Further, he stressed that Africa needs accelerated industrialization to increase its economic resilience.
Mrs. Sahle-Work Zewde, President of Ethiopia, also made an opening speech, said Africa Day ill bring positive changes for men and women entrepreneurs in Africa. The President informed the attendees and audiences of the conference said Ethiopia is changing, welcoming new and strong collaboration with private sector and promotion of good governance and sustainable growth. According to the President, Ethiopia is on the right track to become Africa’s leading manufacturing hub in 2025 in the areas of textile & leather industry, agro-processing industry, pharmaceutical industry and renewable energy.