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Africa’s market share could increase

Nairobi, Aug 16 (Prensa Latina) The United Nations Conference on Trade and Development (UNCTAD) considered today in this city that Africa can increase its participation in global supply chains.

This criterion was based on the continent’s wealth in minerals essential for the technology sector and its growing young population and middle class.

The Secretary General of this UN agency, Rebeca Grynspan of Costa Rica, while presenting a report in Nairobi, indicated that the diversification of resources, the transition to renewable energies and Africa’s demographics are good bases for this to happen.

She insisted that it is not a dream, it is very feasible if the right policies are in place and the continent is integrated.

According to the Africa Economic Development Report 2023, economic uncertainty and trade crises, as well as geopolitical events and natural disasters hit global supply chains, which now need to diversify their sources, which can translate into an opportunity for Africa’s integration.

The continent has an abundance of minerals and metals – cobalt, lithium, aluminum, copper, lithium or manganese – as well as other raw materials that are critical for technology industries, such as the electronics, automotive and energy sectors, he stressed.

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