All you need to know about Africa Industrialization Day 2022

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All you need to know about Africa Industrialization Day 2022
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Africa Industrialization Day (AID) is observed annually on November 20 to raise global awareness of the challenges the continent faces in industrialization. The day aims to mobilize both African leaders and international organizations to focus on the accelerated and sustainable industrialization of Africa. Africa Industrialization Day is an opportunity for the continent to reflect on current economic conditions and the tools it has to promote socio-economic development. Industrialization will help African countries achieve high growth rates, diversify the economy and even reduce their exposure to external economic shocks. This would ultimately lead to the eradication of poverty through the creation of jobs and wealth.

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The day was founded within the framework of the second Industrial Development Decade for Africa (1991-2000). The United Nations General Assembly in 1989 proclaimed November 20 as “Africa Industrialization Day”. Since then, events have been held around the world to raise awareness of the importance of Africa’s industrialization and the challenges facing the continent.

Importance

One of the main objectives of Africa Industrialization Day is to engage in dialogue with global stakeholders and policy makers to focus on Africa’s development and financial resources. It also helps to provide adequate opportunities for the economic advancement of its people. This day focuses on boosting intra-African trade through better harmonization and increased competitiveness in doing business. It promotes African industrialization and progress in manufacturing, as this would in turn provide great employment opportunities.

How is the day celebrated?

Various events are organized to celebrate Africa Industrialization Day. The occasion sees the presence of national leaders and representatives of different non-governmental organizations at various summits. A particular effort is made to ensure that the event provides a platform for as many African leaders as possible, stimulates discussion on the industrialization of the continent and assesses the progress made over the past year.

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