The 53rd session of the Conference of African Ministers of Finance, Planning and Economic Development of the Economic Commission for Africa (ECA) scheduled to hold next year in Addis Ababa, Ethiopia, will focus on industrialisation.
ECA in a statement earlier in the week, said the conference, with the theme: ‘The Future of Africa: Industrialisation in the Digital Era’, would hold from March 18-24, 2020.
The commission said the theme was in recognition of the continent’s desire to industrialise and create jobs for the millions of its populace, the youth, in particular.
The commission stated that although, the fourth industrial revolution presents challenges for countries in Africa, it also offers an opportunity for boosting competitiveness and industrial leapfrogging, which cannot be missed.
ECA said to reduce poverty and catch up with other countries, policymakers and businesses in Africa need to adapt to and innovate within the new digital climate.
“The digital economy is transforming value chains, skills development, production and trade globally. Although, the fourth industrial revolution may not yet be in immediate sight for Africa, these changes will have major implications for competitiveness and industrialisation efforts across Africa,” the body stated.
According to the statement, the ministers will discuss how African policymakers can position themselves to effectively assess both the opportunities and challenges that the digital economy presents, to enable nations to industrialise and prosper in the digital era.
According to ECA, advancements in digital technology offer tools for countries in Africa to leapfrog in traditional industries, including manufacturing.
The body listed other sectors and activities that are crucial to industrial development to include logistics, agriculture, communications, services, green growth and smart cities.
It stressed that without investments and capacity-building in these new technologies, many countries in Africa may fall further behind the technology frontier.
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The ECA explained that the fourth industrial revolution must be responded to with new policies. “Both national and continental level strategies for industrial development will need to adapt to the new digital reality.
“This is in order to position countries in Africa to innovate and to catch up with the digital era in a manner that is consistent with the principle of leaving no one behind.
”Positioning countries will require the development of comprehensive digital industrialisation strategies, investments in digital infrastructure and skills, innovation and technology transfer initiatives, and appropriate regulatory frameworks for the digital economy,” it said.
The ECA also stated that the African Continental Free Trade Area (AfCFTA) offers a platform for African governments to establish institutional arrangements for cooperation on the digital economy, and provisions to support digital capacities and industrialisation and connect African businesses.
It added that in that context, the body in partnership with the African Union Commission is promoting the establishment of a common African technical standard for digital identification platforms.
ECA added that it is so because the benefits of the digital economy are accessible in different African countries and regions.
The body said the CoM 2020 theme would raise awareness among African ministers on the need to ensure that digitalisation strategies are integrated into policy and planning frameworks for industrialisation.