The future of manufacturing in Africa holds potential for growth and development. With increasing investments, technological advancements, and a focus on sustainable practices, African countries aim to boost local production, create jobs, and enhance economic resilience. Efforts in skill development, infrastructure, and regional collaboration play key roles in shaping a more robust manufacturing sector across the continent.
Manufacturing, when looking at the history of economic development, has typically been the cornerstone of the economic transformation of countries. It’s a bedrock of a growing economy. It boosts productivity, unlocks economic growth, and creates jobs. And when you look at the demographics in Africa, you see that the growing labor force will need something like 18 million new jobs a year to absorb that growth up until 2035. And so, manufacturing will have to be a core part of ensuring that we have sustainable economies in Africa, and that will be a core part of ensuring that we have prosperity in Africa.
At the same time, business models allow access to financing; they allow expertise to come in and be leveraged in existing businesses, etcetera. It’s an important part of any economy’s transition, particularly in Africa.
Leading companies are embracing innovation and technology rapidly across manufacturing and supply chains to drive change and efficiency. They are revisiting their revenue models, enabling agile systems and re-aligning strategies with the new consumption models of customers to differentiate and win in the market.
Multi-dimensional marketplaces and ecosystems can help faster and better innovation, allowing companies to collaborate with a broader set of partners. With circular and well-integrated structures, companies can generate value in the longer run with active recycling and reuse of the same resources, accelerating their journey to net-zero emissions. Tech-enabled ecosystems can also provide greater insight into customer choices and buying behaviors for organizations to understand and respond to fast-changing consumer demands.
Improved collaboration between buyers, sellers and enablers through remote interaction helps learning and increases participation by players within a defined business ecosystem. Many organizations globally are experimenting with marketplaces to bring together fragmented, complex and non-transparent value chains. Further, reworking on revenue models through evolved relationships and shared responsibilities can enhance the performance of all stakeholders. New revenue models can offer more flexibility, recurring cashflows, engagement with customers and transform suppliers into long term partners for enduring success.
