African industrialisation has received a $200 Million boost through the African Development Bank (AfDB), which has approved a private sector multi-currency line of credit of $ 100 million and R1.3 billion to the Industrial Development Corporation. The IDC will be using the funds for industrialisation projects in South Africa as well as other Regional Member Countries (RMCs).

African Development Bank and IDC to fund new projects50% of the funding will be used for projects in South Africa and the balance will be directed to regional projects in Mozambique, Malawi, Ghana, Kenya, Namibia, Mauritius, Swaziland and Sudan. The AfDB has partnered with the African Union Commission, the governments of the RMCs, key United Nations agencies and development finance institutions for the projects.

The projects will be based in specific sectors, including priority industrial value chains such as chemical and pharmaceuticals, metals and mining, agro-processing and agriculture; industrial infrastructure, including energy, logistics, water, and telecommunications; and new industries that derive from innovation, science and technology. The money has also been earmarked for opportunities in high impact labour intensive sectors and assistance for businesses in distress.

The commitments were made at the “Third Industrial Development Decade for Africa (2016-2025): From political commitment to actions on the ground” event, held on the sidelines of the United Nations General Assembly in New York.

In 2016, the United Nations General Assembly unanimously adopted a resolution proclaiming 2016-2025 as the Third Industrial Development Decade for Africa (IDDA III). By the terms of the resolution, the General Assembly called on the African Union Commission, NEPAD, the UN Economic Commission for Africa (ECA) and the United Nations Industrial Development Organization (UNIDO) “to develop, operationalise and lead the implementation of the programme for the Third Decade, in accordance with its mandate and through voluntary contributions”.

As a result, the AfDB, UNIDO and the ECA developed an ambitious “Industrialise Africa” strategy that aims at more than doubling the continent’s industrial GDP. The latest credit issued to the IDC is intended to support this strategy.

“These new lines of credit offer a great opportunity to improve industrialisation, leading ultimately to poverty reduction. Africa needs to industrialise more, and at a faster rate. Industrialisation is critical to Africa’s realisation of the UN Sustainable Development Goals,” says Miroslav Lajcák, President of the UN General Assembly.

Image credit: http://www.un.org/apps/news/story.asp?NewsID=57498


African Fusion

AfricanFusionAfrican Fusion, the official publication of the Southern African Institute of Welding (SAIW), aims to provide up-to-date insight into welding technology and the welding industry.

Capital Equipment News

Capital Equipment News is dedicated to the application of equipment and modes of transport that are used in the mining, construction, quarrying, and transport industries.

Construction World

ConstructionWorldConstruction World was first published in 1982 and has grown to become a leader in its field, offering a unique mix of editorial coverage to satisfy the diverse needs of its readers.

Electricity + Control

ElectricityandControlE + C publishes innovative, technical articles that provide solutions to engineering challenges in measurement, automation, control, and energy management.

Lighting in Design

LightingandDesignLighting in Design is a glossy, upmarket publication aimed at lighting professionals. It is the only B2B magazine in SA that is dedicated solely to the subject of lighting.

MechChem Africa

MechChemJanuary2017cover MechChem Africa supports African engineering and technical managers across the full spectrum of chemical and mechanical disciplines.

Modern Mining

ModernMiningEstablished in 2005, Modern Mining is one of SA's leading monthly mining magazines, noted for the quality and accuracy of its writing and the breadth of its coverage.

Modern Quarrying

ModernQuarryingModern Quarrying is firmly entrenched as a leading industry-specific magazine. It focuses on promoting the science and practice of quarrying and processing in southern Africa.

Sparks Electrical News

SparksElectricalNewsReadable and informative, Sparks Electrical News is the newspaper for those involved in installing and maintaining electrical supplies and equipment.

Full Name*
Invalid Input

Company Name*
Invalid Input

Your Email*
Invalid Input

Invalid Input

Postal Address 1*
Invalid Input

Postal Address 2*
Invalid Input

Postal Code*
Invalid Input

Street Address 1
Invalid Input

Street Address 2
Invalid Input

Postal Code
Invalid Input

Town / City*
Invalid Input

Invalid Input


Invalid Input

Invalid Input