Africa Industrialization Day

Industrialisation is social and economic change that transforms a human group from an agrarian to an industrial society through economic reorganisation for the purpose of manufacturing. The key factors for industrialisation are: (1) natural resources and raw materials that can become goods; (2) capital to pay for the production of goods and stable currency; (3) labour supply to make the goods and a good birth rate; (4) technology to make more and better goods and utilities; (5) consumers; (6) transportation and logistics; and (7) government support. The reorganization of the economy has many knock-on economic and social effects. With rising incomes of industrial worker, markets for consumer goods and services of all kinds expand and provide further stimulus for investment and economic growth.Though the second most-populated continent in the world (1.2 billion people), Africa represented 1.4 % of the world manufacturing value added in the first quarter of 2020. Africa Industrialization Day is thus to raise awareness about the importance of Africa’s industrialization and the challenges faced by the continent. Becoming operational 1 January 2021, the African Continental Free Trade Area (AfCFTA) creates a single African market for goods and services and the world’s largest free trade area by number of countries.