The New African Industrial Champions: Building Regional Value Chains Beyond Import Substitution
Africa's industrialisation story is entering a more consequential phase. For decades, industrial policy across much of the continent focused primarily on import substitution—reducing dependence on imported goods through domestic production. While that objective remains important, a new generation of African manufacturers is increasingly competing on a larger stage: supplying regional markets under the African Continental Free Trade Area (AfCFTA), integrating into global supply chains, and producing higher-value manufactured exports.
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