“Without the guarantee of a market receiving Africa’s industrial products, the structural transformation of the economy is not possible”- Yaovi Attigbé Ihou

Economic governance
Thursday, 22 November 2018 18:13
“Without the guarantee of a market receiving Africa’s industrial products, the structural transformation of the economy is not possible”- Yaovi Attigbé Ihou

(Togo First) - For Africa to industrialize more, it needs to find a market where it can sell its products. This was revealed by Togo’s minister of industry and tourism, Yaové Atigbé Ihou. “Without the guarantee of a market receiving Africa’s industrial products, the structural transformation of the economy is not possible”, the official said on November 20, African Industrialization Day.  

Indeed, presently, the share of African industrial products in international trade is insignificant, the Togolese official indicated.

For all African economies, Togo especially, to undergo a structural transformation producing high added value for their industrialization, they should trade more among themselves, Yaovi Atigbé Ihou recommended.

Let’s recall that Togo, with its 2018-2022 national development plan, under which it plans to build various industrial parks, eyes a growth rate of 8% by 2022. The government also wishes to structurally transform the State for a strong, sustainable, resilient, inclusive growth, inducing the creation of decent jobs.

In this framework, authorities, be it in the sectors of pharmaceutical industry or ICTs, are creating a favorable environment to attract investors, according to Luciano Feou, Director of Industry.

Séna Akoda

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