At the backdrop of low contribution of Africa to global GDP and world’s manufacturing value add, the West Africa Industrialisation, Manufacturing & Trade (West Africa – IMT) Summit and Exhibition is scheduled to be held in Lagos this year.
A statement from the organisers said that the landmark edition aims to support the acceleration of industrial development within West Africa by convening key decision makers from across the entire industrialisation ecosystem to collaborate and chart the pathway towards a sustainable and intra-African industrial
Themed, “Accelerating West Africa’s Sustainable Industrial Revolution for Economic Prosperity”, the event will convene market leaders from around the globe to spark innovative discourse on developing partnerships to leverage the resources endowments of African nations and the technological solutions of the developed nations.
“Heads of State across West Africa have set industrialisation as the key priority, acknowledging it as the central catalyst for economic transformation and an avenue to take advantage of its abundance in natural resources including raw materials and human capital.
“With abundant natural resources, a young workforce, renewable energy potential, arable land, a growing middle-class consumer market, and a cost-competitive labour force, Africa has many of the key ingredients for industrial success. However, the region continues to grapple with the impact of climate change on agriculture, geopolitical tensions driving up energy and food prices and political uncertainties.
“Through effective reforms and the right policy measures, nations within the region are set to attract investors and create an enabling environment for business to thrive.
The potential utilisation of advanced technologies for cleaner energy systems and green industrialisation could see African nations leapfrogging for a more rapid and efficient industrial revolution,” the statement added.