GILBERT MANIRAKIZA: Let's champion Africa's rise in the global manufacturing

By Gilbert Manirakiza

For the past twenty years, the "Made in China" label has dominated the global marketplace. This dominance, however, has brought both prosperity and controversy.

Imagine a world where a new label emerges—"Made in Africa"—signifying a shift in the global economic landscape.

This is the story of how Africa, with its rich resources and burgeoning youth population, stands on the cusp of becoming the next manufacturing powerhouse in the era of the 6th Industrial Revolution.

Africa, the protagonist of our story, is a continent brimming with untapped potential. It is home to the youngest population in the world, with over 60 per cent under the age of 25.

This youthful energy is Africa's greatest asset, waiting to be harnessed. Coupled with its vast natural resources—minerals, oil, and agricultural produce—Africa has the raw materials and the manpower needed to fuel a new industrial age.

A Tale of Two Continents

Our story begins with a global conflict: overcapacity and economic disruptions caused by China's rapid industrial growth. The global market is flooded with Chinese goods, causing prices to plummet and local industries to struggle.

Europe and the United States, among others, have raised alarms over this economic imbalance, fearing for their domestic industries and jobs. This overcapacity, particularly in sectors like steel, EVs, solar panels, and lithium-ion batteries, has sparked intense international debates.

As the world grapples with these challenges, a new era dawns—the 6th Industrial Revolution. Advancements in automation, artificial intelligence, and clean technology characterise this era. It promises unprecedented productivity and efficiency but also poses risks to traditional manufacturing jobs.

Herein lies a critical turning point: how can Africa seize the opportunities of this new industrial age to create jobs and drive economic growth?

Africa can learn from China's and other superpowers’ industrial trajectory to navigate this turning point. China, like India, Malaysia, Singapore and even Europe, have demonstrated how strategic state support, innovation, and infrastructure development can transform a nation into a global manufacturing leader.

However, Africa must adapt these lessons to its unique context, ensuring that job creation remains at the forefront of its industrial strategy.

The Quest to Being the Next Global Factory

Africa's quest to become the next global factory involves several key steps. Firstly, harnessing the demographic dividend by investing in its youthful workforce's education and vocational training equips them for roles in advanced manufacturing and clean technology sectors.

Secondly, by leveraging its resource wealth, Africa can utilise its rich deposits of critical minerals and raw materials essential for the 6th Industrial Revolution through strategic partnerships and investments.

Thirdly, building robust infrastructure in transportation, energy, and digital connectivity is crucial to support industrial activities and attract further investment.

Finally, implementing favourable policies is necessary to create a conducive business environment, protect local industries, incentivise investments, promote industrialisation and ensure regulatory stability.

Africa's journey has challenges. Infrastructure deficits, political instability, and trade complexities must be addressed. However, with determination and strategic planning, these obstacles can be overcome.

Africa must also navigate the global trade landscape, balancing the need for open markets with the protection of nascent industries.

The Resolution: A Vision for Africa's Future

In resolving our story, we envision a future where Africa has successfully transitioned into a global manufacturing hub. The label "Made in Africa" becomes synonymous with quality and innovation.

Job creation drives economic growth, lifting millions out of poverty and improving livelihoods across the continent. Africa's success in this endeavour contributes to global economic stability and sets a precedent for sustainable and inclusive growth.

At the dawn of the 6th Industrial Revolution, job creation is more than an economic necessity—it is a political imperative. With its demographic and resource advantages, Africa has the potential to lead this new industrial age.

By learning from the past and embracing the future, Africa can become the world's next factory, heralding a new era of prosperity and innovation.

In this story of transformation, Africa is not just a participant but a leader, shaping the future of global manufacturing and setting the stage for the next chapter in the world's economic history.

This is why Kasi Afrique, an organisation dedicated to fostering accelerated job growth in Africa, is fostering knowledge generation, skills development and experience sharing with the aim of empowering governments and stakeholders to create the conditions that entrepreneurs need to scale-ups their ventures.

Gilbert Manirakiza, CEO of the Newmark Group