Africa 2016 - Future of Production

TL;DR

African leaders discuss the transformation of production systems in the face of new technologies and global changes, exploring ways to make production more effective, efficient, and inclusive.

Transcript

ladies and gentlemen good afternoon welcome to another session here at the 26th World economic Forum on Africa thank you for joining us whether you're in this room or watching the live stream online I'm Nancy kenira and it's a pleasure to be moderating this discussion this afternoon we're about to have a conversation on the future of production as ... Read More

Key Insights

• 🍓 Africa has significant potential for growth in manufacturing and production, given its large consumer market and proximity to raw materials.
• 😮 African countries need to strike a balance between embracing innovation and ensuring labor-intensive production to address rising unemployment.
• 🌍 Infrastructure development and investment in renewable energy are crucial for driving manufacturing growth in Africa.
• 👨‍💼 Policy-makers should focus on sustainability, job creation, and meeting local demand when choosing businesses to invest in for manufacturing and production.

Questions & Answers

Q: How can Africa find its place in the fourth Industrial Revolution and overcome challenges such as rising inequality and unemployment?

By striking a balance between embracing innovation and ensuring labor-intensive production, Africa can create sustainable and inclusive production systems. This can be achieved through investment in infrastructure, renewable energy, and skills development.

Q: What are the key factors that African policy-makers need to consider when choosing which businesses to invest in for manufacturing and production?

Sustainability, job creation potential, and the ability to meet local demand are crucial factors. Policy-makers should also focus on sectors with potential for growth, such as infrastructure development and renewable energy.

Q: How can Africa take advantage of the shift in manufacturing jobs from China and become the next manufacturing hub?

Africa can leverage its large consumer market and proximity to raw materials to attract manufacturing investments. By improving vocational training, infrastructure, and ease of doing business, Africa can position itself as an attractive destination for manufacturing and production.

Q: How can African countries ensure that their manufacturing and production systems are inclusive and benefit the entire population?

By focusing on upskilling and vocational training, African countries can ensure that their populations have the necessary skills to participate in the manufacturing sector. Additionally, policies should aim to reduce inequality and create equal economic opportunities for all.

Summary & Key Takeaways

• Africa currently commands only a 1.5% share of the global manufacturing output.

• Leaders are working to change this by embracing innovation and new technologies while also addressing high unemployment rates and the need for labor-intensive production.

• Infrastructure development and investment in renewable energy are seen as key drivers for manufacturing growth in Africa.