The Problems of Africa’s Industrialization Substitution Strategy and Reformation Needs
South Asian Journal of Social Studies and Economics · pp. 44–54 · Published 22 Sep 2020
10.9734/sajsse/2020/v7i430199Abstract
This study showed that industrialisation by substitution of imports has been a failure in Africa and has made industries in this part of the world less competitive on the foreign market. As such, a different industrialisation strategy which in the context of globalisation of economies and the fierce competition of the international market reinforces the competitiveness of African countries. This new strategy was translated amongst others by the appropriation of new technologies, protection of infant industries, cloning of manufactured products imported out of Africa, regional integration and the culture of exporting manufactured products.
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