Key points
- ECA says African countries must strengthen domestic resource mobilisation to finance industrialisation.
- The commission warns that dependence on external funding leaves economies vulnerable to global shocks.
- It urges greater investment in manufacturing, regional value chains and sustainable energy systems.
- ECA also advocates stronger continental financial institutions to mobilise long-term investment.
Main story
The Economic Commission for Africa (ECA) has called on African countries to strengthen domestic resource mobilisation to finance industrialisation and reduce reliance on external funding.
The Executive Secretary of the ECA, Claver Gatete, made the call during a joint session of African Union Specialised Technical Committees on finance, trade, industry and minerals.
Gatete said recent geopolitical tensions and global supply chain disruptions had exposed structural weaknesses in many African economies, underscoring the need to build stronger productive capacity.
“Economies that do not produce remain vulnerable,” he said.
He stressed that sustainable development could not continue to depend on external financing, particularly at a time of growing global economic uncertainty.
According to him, African countries should channel more financing into productive sectors, expand manufacturing, increase value addition and deepen intra-African trade under the African Continental Free Trade Area (AfCFTA).
Gatete said stronger domestic resource mobilisation, alongside greater private sector investment, would be critical to driving industrial transformation across the continent.
He also identified the development of regional value chains as a key priority for improving Africa’s industrial competitiveness.
The ECA chief called for increased investment in integrated and sustainable energy systems to support industrial growth and improve productivity.
He further advocated stronger continental financial architecture capable of mobilising long-term investment across Africa.
Gatete warned that fragmented policies would not deliver the integrated economies required for sustainable growth and urged greater policy coordination among African countries.
He reaffirmed the commission’s commitment to supporting member states in strengthening fiscal systems, expanding capital markets and developing innovative financing mechanisms.
He highlighted the African Financing Stability Mechanism and the Pan-African Payment and Settlement System as important initiatives to strengthen Africa’s financial systems and support long-term development financing.
Gatete also pledged continued collaboration with the African Union Commission, the African Development Bank and other partners to translate policy commitments into industrial growth, job creation and inclusive economic development.
The issues
Africa continues to face a significant financing gap for infrastructure and industrial development. Strengthening domestic revenue generation, expanding manufacturing and mobilising private capital are increasingly viewed as essential to reducing dependence on external borrowing while creating more resilient economies.
What’s being said
“Economies that do not produce remain vulnerable.” — Claver Gatete, Executive Secretary, Economic Commission for Africa.
What’s next
The ECA is expected to continue working with African governments and continental institutions to strengthen fiscal systems, deepen regional financial integration and promote financing mechanisms that support industrialisation and long-term economic growth.
Bottom line
The ECA says Africa’s path to sustainable industrialisation will depend less on external financing and more on stronger domestic resource mobilisation, productive investment and closer regional economic integration.
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