According to the organisers of the upcoming Manufacturing Indaba Conference and Exhibition, running from 22-23 October 2024 in Johannesburg, Africa is rapidly positioning itself as a key player in the global manufacturing landscape
The continent, is offering unrivalled opportunities for growth and investment with manufacturing contributing more than 10.5% to Africa’s GDP. Led by nations such as South Africa, Nigeria and Egypt, there are significant strides being made in industries such as automotive, textiles and consumer goods. Moreover, the organisers noted that the increasing focus on industrialisation (prioritised by most nations), coupled with favourable policies and emerging trade agreement such as the African Continental Free Trade Area (AfCFTA) is creating an “ideal” environment for businesses seeking to expand their global footprint.
A manufacturing revolution
These market dynamics are spurring interest and excitement for the industry so that it now sits on the cusp of a manufacturing revolution.
Another facet at the forefront of this change are the emergence of special economic zones (SEZs). The Hawassa Industiral Park in Ethiopia, for instance, has become “a magnet” for foreign direct investment the organisers have noted. Specifically, the textiles and apparel industries have flourished around the zone.
This is a familiar theme across the continent, with other success stories including the growth of the automotive sectors, particularly in Morocco and South Africa. These two countries now nearly produce a combined one million vehicles a year.
There is also a general shift towards sustainable practices, in line with the global appetite for reducing emissions. The organisers have expressed that investments in renewable energy and green manufacturing are gaining momentum across the continent with a number of leading initiatives to reduce the industry’s carbon footprint. This is further making the continent an attractive destination for investors alongside the readily available workforce emerging from Africa’s rapidly growing population.
With the continent on the right road to become the next global manufacturing powerhouse, stakeholders are being encouraged to participate in the Manufacturing Indaba Conference and Exhibition in South Africa. Gathering industry leaders, policymakers and investors to discuss the future of manufacturing, it will serve as a platform for attendees to be part of the industrial renaissance currently underway.
Is Africa set to become the new global manufacturing powerhouse?
At the show in Johannesburg, companies and investors are encouraged to be part of Africa’s industrial renaissance. (Image source: Manufacturing Indaba)
