https://en.sputniknews.africa/20250318/no-industrialization-diversification-or-integration-means-no-economy-says-auda-nepad-ceo-1071146781.html
No Industrialization, Diversification, or Integration Means No Economy, Says AUDA-NEPAD CEO
No Industrialization, Diversification, or Integration Means No Economy, Says AUDA-NEPAD CEO
Sputnik Africa
The 57th session of the Economic Commission for Africa, including the Conference of Ministers (COM2025), is taking place from March 12 to 18 in Addis Ababa... 18.03.2025, Sputnik Africa
2025-03-18T17:15+0100
2025-03-18T17:15+0100
2025-03-20T12:10+0100
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Africa’s economic future hinges on industrialization, diversification, and integration, Nardos Bekele-Thomas, Chief Executive Officer of the African Union Development Agency (AUDA-NEPAD), told Sputnik Africa.As the continent moves forward with Agenda 2063, Bekele-Thomas emphasized the urgent need for structural transformation to drive sustainable growth and trade.One of the key pillars of this vision is the African Continental Free Trade Area (AfCFTA), a flagship initiative aimed at fostering economic integration and boosting intra-African trade. However, for AfCFTA to succeed, Bekele-Thomas stressed the necessity of industrialization. Beyond industry and trade, inclusive economic participation is crucial for long-term transformation. Bekele-Thomas highlighted the role of women and youth in shaping Africa’s economic trajectory—the “most ingenious and creative society that we need to really empower.”To support this transformation, AUDA-NEPAD is actively implementing programs to ensure their full integration into the economic ecosystem and also prioritizing infrastructure development.Institutional strengthening and policy harmonization are also critical to fostering a seamless trade environment, the CEO concluded.
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women's empowerment, women, youth, africa, economy, sputnik africa, african continental free trade area (afcfta), policy, agenda 2063, infrastructure
No Industrialization, Diversification, or Integration Means No Economy, Says AUDA-NEPAD CEO
17:15 18.03.2025 (Updated: 12:10 20.03.2025) Christina Glazkova
Writer / Editor
The 57th session of the Economic Commission for Africa, including the Conference of Ministers (COM2025), is taking place from March 12 to 18 in Addis Ababa, Ethiopia. It centers on advancing the African Continental Free Trade Area and addresses digitalization, technology, food security, and energy transformation.
Africa’s economic future hinges on industrialization, diversification, and integration, Nardos Bekele-Thomas, Chief Executive Officer of the African Union Development Agency (AUDA-NEPAD), told Sputnik Africa.
As the continent moves forward with Agenda 2063, Bekele-Thomas emphasized the urgent need for structural transformation to drive sustainable growth and trade.
“In realizing and in delivering this vision [Agenda 2063], we are also delivering the Sustainable Development Goals, which are the global development goals, and therefore we are really being the premier; we are really the umbrella body for all development activities on the continent,” she explained, speaking on the sidelines of the COM2025.
One of the key pillars of this vision is the African Continental Free Trade Area (AfCFTA), a flagship initiative aimed at fostering economic integration and boosting intra-African trade. However, for
AfCFTA to succeed, Bekele-Thomas stressed the necessity of industrialization.
“Without industrialization, there is no trade. Without diversification, there will not be trade. Without the expansion of the economy, there will not be trade,” she warned.
Beyond industry and trade, inclusive economic participation is crucial for long-term transformation. Bekele-Thomas highlighted the role of
women and youth in shaping Africa’s economic trajectory—the “most ingenious and creative society that we need to really empower.”
“Without putting as many stakeholders in the economy, like women, like youth, integrated into the economy, there will not be growth and there will not be trade,” she stated.
To support this transformation, AUDA-NEPAD is actively implementing programs to ensure their full integration into the economic ecosystem and also prioritizing infrastructure development.
“When we talk about infrastructure, it's not only the physical infrastructure, like roads, rails, waterways and all this, but also the digital, as well as the infrastructure that we need for industrialization, like the economic zones, like the agriculture parks, and also like the one post-border to make sure that trade is facilitated at the borders,” she explained.
Institutional strengthening and policy harmonization are also critical to fostering a seamless trade environment, the CEO concluded.
