- Africa has huge potential to power global supply chains for automobiles, handsets, food, renewable energy, and healthcare.
- The value of the African supply chain finance market rose by 40% between 2021 and 2022, reaching $41 billion.
- Africa has at least a fifth of the world’s reserves in a dozen metals critical for the energy transition.
- African countries need to capitalize on their comparative advantages and bolster technology adoption, improve logistics and leverage trade agreements.
Riding on its key comparative advantage of driving green transition globally, Africa can become a new hub for international supply chain, including for technology intensive industries. However, to realize this ambition, the ball lies principally in the court of policymakers in Africa and businesses to position the continent at an advantage.
These revelations are contained in the new United Nations Conference on Trade and Development (UNCTAD) Economic Development in Africa Report 2023 released on 16th…
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