German’s industrial machine exports to Africa hit 580m euro
German exported industrial machines worth 580 million euro to Africa in 2013, representing 7.5 per cent of the country’s total export, Mr Richards Clemens, Managing Director, Packaging Machinery Association of Germany told journalists in Lagos on Monday.He said there was an increase in the global demand for German technology, adding that Nigeria was top on the list of countries making such demands.
Nigeria To Construct Africa’s First Gas Industrial Park
In furtherance of its commitment to boosting gas processing in the country, Nigeria is set to construct the first and largest gas industrial park in Africa, Petroleum Resources Minister, Diezani Allison-Madueke Monday disclosed.
According to the minister, the West African country plans to build the first and largest gas industrial park in Africa.
Allison-Madueke made this known in Abuja, the capital of Africa’s largest economy, at the opening of a three-day Gas Resources Conference and Exhibition organized by Nigeria’s Senate Committee on Gas.
AfDB institutes $100bn for industrial development
African Development Bank has instituted a 100 billion dollars infrastructure fund to fast track the continent’s industrial development.
 Dr Ousmane Dore, Nigeria Country Director of AfDB, disclosed this to the News Agency of Nigeria on Wednesday in Abuja.
He said that the fund, called “Africa50 Fund”, would be derived from Africa’s resources.
Dore said the idea of the fund was to mobilise domestic savings that already existed in the continent through equity participation from member states and the private sector.
For growth to count, Africa must industrialise
By Carlos Lopes of the United Nations Economic Commission for Africa
In an era of high volatility and deep crisis, Africa has been an economic success story. A combination of high commodity prices, increased domestic demand, improved economic governance and management and stronger trade and investment ties with other developing economies has helped African countries record on average an impressive 5 per cent annual GDP growth over the past ten years. It is a performance which more developed and wealthier regions simply cannot match.
But while this record should be reason for celebration and confidence, progress on social development has been far slower. Africa’s growth, contrary to the headline figures, has not been sufficiently inclusive or provided the new jobs the continent and its people desperately need.
