The African Export-Import Bank (Afreximbank) has urged African countries to increase infrastructure investment in the manufacturing sector as a cornerstone to unlock economic potential for industrial and regional trade integration.
This was disclosed in a post on Afriximbank’s official X page on Friday, stating the urgent need for Africa to transition from being a raw-material-exporting economy to becoming an industrial hub.
“Africa’s prosperity depends on its ability to own its value chains and retain the wealth generated from its resources. By leveraging industrialisation, trade integration, and strategic investments, the continent can rewrite the narrative—one where its wealth works for its people, not just for external beneficiaries,” it said.
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Afreximbank stressed that Africa’s economic sovereignty depends on capturing more value within its borders.
“Instead of exporting raw materials, the continent must focus on value-added production by transforming commodities into finished goods for domestic, regional, and global markets,” the bank said.
According to the bank, African continents can achieve this by investing in the manufacturing and industrial sectors to encourage local processing of goods.
“Africa needs to prioritise investments in manufacturing and industrial sectors to bolster local industries, develop sector-specific value chains in agriculture, mining, and pharmaceuticals and establish robust finance and investment mechanisms to help businesses advance along the value chain for economic growth,” it said.
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Additionally, regional trade integration can be achieved through the African Continental Free Trade Area (AfCFTA) to enhance intra-African trade, strengthen technical expertise and encourage investment in transportation to support industrial activities.
Afreximbank noted that it is at the forefront of Africa’s economic transformation, providing the financial backbone for industrialisation, trade expansion, and value chain development.
The Bank reinstated its commitment to supporting industrial project financing for infrastructural development, helping African businesses transition from raw material suppliers to producers of finished goods, facilitating seamless intra-African trade and fund industries that transform resources into globally competitive products.
