By Charmaine Ndlela
Africa must stop exporting raw materials and buying back expensive finished products if it is to create jobs, retain wealth and secure greater economic sovereignty, Deputy President Paul Mashatile said on Tuesday.
Delivering a virtual keynote address at the 13th Manufacturing Indaba in Sandton, Mashatile told African countries to place manufacturing at the centre of their economic development strategies, saying industrialisation was critical to driving innovation and securing long-term prosperity.
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Speaking later at the same conference, Electricity and Energy Minister Kgosientsho Ramokgopa warned that manufacturing’s contribution to South Africa’s economy had fallen from about 22% in 1994 to around 12%, reflecting the effects of unreliable electricity, weak investment and persistent logistics bottlenecks.
Mashatile said manufacturing remained the backbone of a resilient economy, strengthening national self-reliance while positioning countries to compete in an increasingly technology-driven global
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