(3 minutes read)
· The World Economic Forum’s released a study on the impact that COVID-19 on Africa’s supply chains
· Developed by the World Economic Forum’s Regional Action Group for Africa in partnership with Deloitte, the report provides policy advice for accelerating the expansion of regional value chains in emerging manufacturing economies such as the automotive industry
The World Economic Forum’s released a study on the impact that COVID-19 on Africa’s supply chains. Developed by the World Economic Forum’s Regional Action Group for Africa in partnership with Deloitte, the report provides policy advice for accelerating the expansion of regional value chains in emerging manufacturing economies such as the automotive industry.
The paper investigates five ways to drive economic recovery and build resilience in the context of the AfCFTA Agreement. That includes new financing models for rapid recovery; unlocking manufacturing to mitigate global supply chain risks; leveraging integration and regional value chains; revitalizing infrastructure and connectivity; and scaling up digital transformation and inclusive innovation.
Insufficient and inert inter-linkages between African economies have exacerbated the impact of the COVID-19 pandemic on the continent’s supply chains. Yet, from local production of essential products to improving port and customs efficiencies – often flagged as a challenge in Africa. Successfully implemented, current efforts by the African Union will stimulate trade as well as deepen and create new regional value chains in Africa.
The paper places emphasis on the automotive sector as a case study as advances in that industry have the potential to mobilize and create stronger integrated regional value chains.
