Africa Industrialization Day

WE, the African Union (“AU”) Heads of State and Government, Ministers of Finance, Central Bank Governors, representatives of the Ministries of Finance, African Multilateral Financial Institutions, Regional Economic Communities and Civil Society Organisations, meeting from 12th to 14th May 2025, for the African Union Conference on Debt in Lome, Republic of Togo; HAVING deliberated on the theme of “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability”; ACKNOWLEDGING that public debt in Africa has increased significantly over the last decade, resulting in over 25 countries being either at high risk of debt distress or in debt distress, which has created a huge challenge as the rising debt service costs are draining vital public resources needed for development and achievement of the Sustainable Development Goals (“SDGs”) and the AU Agenda 2063; RECOGNISING that besides the heightened debt service payments, the continent has an enormous development financi...

Note: The map shows potential providers of inputs that have comparative advantage or an export potential of more than $10 million Significant intraregional export potential to untap Africa has the potential to export €5.8 billion of cotton garments by 2026. Almost 15% of these exports would be on the African continent. Two-thirds of intraregional export potential in the sector have yet to be unlocked. Despite high exports and export potential, import demand is also high. This is reflected in an import value of €3.6 billion, projected to increase by 84% as of 2026 to €6.6 billion Africa is on the low steps of this value chain ladder   The continent is an important producer and exporter of raw cotton and is involved in the final assembly of certain textiles. However, Africa exports 90% of its raw cotton to Asia and is a net importer of cotton fabrics and yarn. African cotton apparel manufacturers import a mere 7% of cotton yarn and 6% of cotton fabric from elsewhere on the continent....

  1.1. Background. The 25th Ordinary Session of the Assembly of Heads of State and Government of the African Union which was held in Johannesburg, South Africa, in June 2015 launched the negotiations for the establishment of the African Continental Free Trade Area (AfCFTA). The launch of the negotiations marked a major milestone in the implementation of the Summit Decision to establish a Continental Free Trade Area by 2017. The main objective of the AfCFTA negotiations was to achieve a comprehensive and mutually beneficial trade agreement among the Member States of the African Union. The inaugural session of the AfCFTA Negotiating Forum (AfCFTA-NF) was held in February 2016. The AfCFTA-NF established Technical Working Groups (TWGs), which supported the negotiations one of which was on Rules of Origin (TWG on RoO). The AU Heads of State and Government at an Extra Ordinary Summit on 21st March 2018 in Kigali, Rwanda, signed the AfCFTA Agreement and its Protocols. Further, the AU Head...