Africa’s Impact on Global GDP: A Look at Industrial Development
Africa’s current contribution to the global GDP is a mere 3%, with manufacturing value add standing at 2% (UNIDO 2024). While resource-rich nations focus on commodity exports, they are only able to capture 30% of the value. A shift towards product valorisation and export could potentially generate returns exceeding 10 times the original value.
Despite these challenges, international investors are increasingly looking at opportunities within the region. Recent agreements such as the $12 billion Petroleum Hub Project in Ghana, the $10 billion investment in the Baleine field in Côte d’Ivoire by ENI, and the $3 billion facility for an industrial park in Nigeria are clear indicators of the growing interest in Africa’s industrial development. Additionally, the African Development Bank Group’s approval of a $75 million loan to support industrial development in Senegal shows a commitment to the region’s growth.
The upcoming West Africa Industrialisation, Manufacturing & Trade (West Africa – IMT) Summit and Exhibition in Lagos, Nigeria from 27 – 29 May 2025, is set to be a game-changer. With the theme “Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity,” the event aims to bring together key decision-makers to collaborate and chart a path towards a sustainable industrial revolution in West Africa.
Heads of State in West Africa have identified industrialisation as a top priority for economic transformation. With abundant natural resources, a young workforce, renewable energy potential, and a growing middle-class consumer market, the region has the key ingredients for industrial success. However, challenges such as climate change, geopolitical tensions, and political uncertainties continue to hinder progress.
By implementing effective reforms and the right policy measures, African nations can create an enabling environment for business to thrive. Leveraging advanced technologies for cleaner energy systems and green industrialisation could propel the region towards a more rapid and efficient industrial revolution.
The West Africa – IMT Summit and Exhibition aims to unlock the region’s full industrial potential by fostering critical discourse and driving business development efforts. With a focus on bringing industry stakeholders together, the event is poised to support regional and international government and private sector stakeholders in spearheading a sustainable industrial revolution.
Governments, private sector players, and international investors will come together to outline priorities for sustainable industrialisation during the event. With an expected attendance of 2,500 from over 25 countries, the Summit and Exhibition will be the first of its kind in the region. The large-scale Exhibition will showcase major international and regional players across various sectors, while the Summit will feature leadership dialogues, investment roundtables, and technical workshops.
The West Africa Industrialisation, Manufacturing & Trade Summit & Exhibition is set to be a pivotal event in driving economic prosperity for the entire region and establishing West Africa as a key player in the global industrial ecosystem.
Don’t miss out on the opportunity to be part of this groundbreaking event:
West Africa Industrialisation, Manufacturing & Trade Summit & Exhibition
27-29 May 2025
Landmark Centre, Lagos, Nigeria
Join us in shaping the future of industrial development in West Africa!
