African economies must urgently rethink how production and capital are organized if the continent is to create sustainable industrial jobs and globally competitive businesses, Benedicta Lasi, Executive Chair of the Africa Trade Chamber, has said.
Speaking today at the Trade Africa Summit on economic development, Ms. Lasi said Africa continues to face deep-rooted structural challenges, including weak industrial growth, heavy dependence on imports, and policy frameworks that have failed to build strong and sustainable local value chains. These shortcomings, she noted, have constrained industrial expansion and heightened the continent’s vulnerability to external shocks.
Ms. Lasi explained that the Africa Trade Chamber was established to confront these challenges by promoting local production, strengthening domestic industries, and reducing reliance on foreign goods. According to her, the organization seeks to support Africa’s transition from fragmented national markets to integrated production systems, enabling countries to move beyond raw material exports toward industrial manufacturing.
She stressed that industrialization is a complex and demanding process that requires effective coordination across multiple government ministries and agencies. Reliable electricity supply, efficient transport infrastructure, and coherent fiscal and industrial policies, she said, are critical foundations for building a sustainable industrial base.
Beyond government intervention, Ms. Lasi emphasized the central role of the private sector in Africa’s industrial transformation. She called on businesses to invest in skills development, strong governance structures, and efficient management systems, while operating transparently to earn the confidence of financiers and long-term investors.
Ms. Lasi concluded that only through strong institutions, coordinated policymaking, and credible private-sector leadership can Africa build a resilient, competitive, and sustainable industrial economy.
Story by: Ernest Frimpong (+233247220948) | Follow our social media platforms: @uktvghana
