Addis Ababa, 22 September 2014 (ECA) - The Economic Commission for Africa is launching the 2014 edition of its Economic Report on Africa (ERA), in collaboration with renowned think-tank Chatham House at Chatham House, 10 St James’s Square, London, on 24 September 2014. The launch forms part of a continental- wide and selected big cities dissemination process following the joint initial publishing of ERA by the Commission and the African Union in March this year.
With its theme, ‘Dynamic Industrial Policy in Africa: Innovative Institutions, Effective Processes and Flexible Mechanism, this year’s report identifies the challenges and pitfalls in designing and implementing industrial policy and how they can be resolved. The report encourages the continent to refocus its economic development strategies on industrialization, particularly on the means for formulating and implementing effective industrial policy, which encompass the vital role of the State in addressing market failures.
The 2014 Economic Report on Africa builds on the previous year’s report on commodity-based industrialization. It underscores the fact that successful industrialization hinges on industrial policy organizations that are dynamic and organic in nature, high-level political support and institutionalized dialogue with the private sector. The timeliness of the report comes at a time where African governments have rejuvenated their efforts in spurring structural transformation on the continent.
Mr. Alex Vines, Research Director, Area Studies and International Law and Head, Africa Programme at Chatham House and Dr Veronica Kalema, Head of Africa Credit Strategy, Nedbank Capital are expected to attend the event. More than 100 people, comprising policy-makers, business representatives, diplomats, civil society representatives, academics and the Diaspora will also gather to discuss and deliberate on the key findings and the policy recommendations of the report.