Accra: The Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, has urged African countries to accelerate industrial transformation by shifting from the export of raw materials to value addition and local production. He emphasized the need for Africa to take deliberate steps towards industrialisation to improve living standards and fully harness the opportunities presented by continental integration initiatives.
According to Ghana Web, Africa is at a critical stage in the implementation of Agenda 2063, and Madjie noted that the African Continental Free Trade Area (AfCFTA) remains a key instrument for driving industrial development and economic transformation across the continent. He stressed the importance of moving away from historical dependence on exporting raw materials and instead focusing on processing and adding value to natural resources to support sustainable growth.
Madjie made these remarks at the Africa Trade Summit 2026, held in Accra, under the theme 'Financing Africa's Industrialization: Developing Industrial Value Chains, Beneficiation, and Market Integration.' The summit focused on accelerating trade integration, industrialisation, and investment across Africa, with discussions centred on value addition, standardisation, infrastructure development, financing, and private sector participation under the AfCFTA framework. It also provided a platform for African governments, policymakers, and business leaders to share experiences, align policies, and promote sustainable and inclusive economic growth.
Madjie emphasised that conversations on Africa's development must prioritise industrial transformation, including the need to extract greater value from local resources and build competitive African industrial champions. While acknowledging Africa's participation in global trade, he said the immediate priority should be to deepen industrial development and strengthen intra-African value chains.
In her remarks, the Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, highlighted the importance of standardisation in facilitating trade among African countries. She noted that standards must be established to ensure smooth trade between countries, eliminating the need for standard checks at borders. She added that Ghana, as the host country of the AfCFTA Secretariat, must fully leverage the opportunities offered by the agreement to enhance trade, industrial growth, and economic integration.