Africa: ECA and ECCAS join forces to boost industrialisation

The United Nations Economic Commission for Africa (ECA) and the Economic Community of Central African States (ECCAS) have reaffirmed their commitment to promoting industrialization and regional economic integration in Central Africa.

This shared ambition was reiterated during the visit of ECCAS Commission President, Ambassador Gilberto Da Piedade Verissimo, to the ECA Sub-Regional Office in Yaoundé, according to a press release issued on Thursday, June 13, 2024.

Technical teams from both organizations identified the transformation of the sub-region’s abundant natural resources into manufactured goods as a key strategy for economic diversification and integration.

“The Douala Consensus, which we collectively adopted in 2017, remains our roadmap. Together with ECCAS, we aim to enhance the local value addition of raw materials through regional value chains,” emphasized Jean Luc Mastaki Namegabe, Director of the ECA Sub-Regional Office, as quoted in the document.

In line with this vision, the ECA has developed essential tools, including the Master Plan for the Industrialization and Economic Diversification of Central Africa (PDIDE-AC).

This plan highlights New Generation Special Economic Zones (ZESNG) as crucial drivers for creating local added value, enhancing local content, and facilitating the transfer of industrial skills.

The two partners also explored innovative financing opportunities, particularly the mobilization of green financing and the utilization of natural capital for forest-based economies, such as those in the Congo Basin.

By better accounting for ecosystem services, these countries can more effectively advocate for increased resources dedicated to sustainable industrialization.