Business Leaders Series: North Africa

Africa Regional Webinar Series

African economies are expected to rebound in 2021. According to the African Development Bank, real GDP on the continent is projected to grow by 3.4% after shrinking by 2.1% last year, a recovery driven by the effective deployment of therapeutics and vaccines, continued implementation of the Africa Continental Free Trade Agreement (AfCFTA) and increased private sector investment and participation in the economy.

Boosting local manufacturing is a key determinant for a strong economic recovery in Africa. Business-to-business spending in manufacturing in Africa is projected to reach $666.3 billion by 2030, $201.28 billion more than that it did in 2015, thus showing the high potential of the sector. 

North Africa is already benefiting from an increase in investments in the sector and boosts strong industries that are already shaping the future of Africa’s industrial landscape. 

Morocco is a leading aerospace manufacturing hub with roughly 140 aeronautical suppliers employing more than 17,000 people, and the government still plans to increase the number of firms operating to 220 by 2030, employing 40,000 people. 

Tunisia is home to 39 drug manufacturing companies and the sector has experienced steady double-digit growth at between 10% and 15% a year as a result of increased domestic demand for drugs, emerging export markets and the implementation of a favourable business environment.

The North Africa series deep-dived into the booming manufacturing ecosystem in the region and invited leading industrialists and investors for a dynamic discussion and debate on the future of the sub-region. You can view the recordings below:

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