https://www.africa-agri-market.com/ 🌍🏭 Africa Must Industrialize Commodities to Capture Greater Value — Afreximbank

The African Export-Import Bank (Afreximbank) has called on African countries to priorities the industrialization of their commodities in order to unlock greater economic value and drive sustainable growth across the continent. According to Afreximbank, Africa continues to lose significant revenue by exporting raw materials with little or no processing, while developed economies benefit from value-added manufacturing. The bank stressed that transforming commodities locally would create jobs, strengthen supply chains, boost intra-African trade, and improve foreign exchange earnings. Afreximbank officials noted that industrialization is critical to achieving the goals of the African Continental Free Trade Area (AfCFTA), as value-added products are more competitive in regional and global markets. They highlighted sectors such as agriculture, mining, and energy as key opportunities for processing and manufacturing within Africa.

The bank also emphasized the need for supportive policies, infrastructure development, access to finance, and regional collaboration to accelerate industrial growth. By investing in processing facilities and technology, African nations can move up global value chains and reduce dependence on commodity exports.Afreximbank reaffirmed its commitment to supporting industrial projects across the continent through trade finance, investment facilitation, and capacity-building initiatives aimed at strengthening Africa’s manufacturing base.