24 November 2015: Africa Industrialization Day 2015 took place on the theme, ‘SMEs for Poverty Eradication and Job Creation for Women and Youth,’ with events at UN Industrial Development Organization (UNIDO) headquarters in Vienna, Austria, and around the world.

The private sector in Africa supports 90% of all jobs and contributes 80% of the region’s gross domestic product (GDP), according to the UN, which stresses the “pivotal role” small and medium enterprises (SMEs) can play in Africa’s industrialization.

Despite significant economic growth and progress in human development, “inclusive and sustainable industrial development (ISID) remains elusive,” in many countries in Africa, UN Secretary-General Ban Ki-moon observed in his message for the Day. He elaborated that youth unemployment and gender inequity jeopardize efforts to eradicate poverty, and limit SME opportunities for women and youth. Thus, Africa’s “full entrepreneurial potential” is not being harnessed, and its potential for transformative development and innovation is restricted, said Ban. He called for Africa to “invest in training and education for women and youth to industrialize, grow the private sector and achieve sustainable development,” stressing that SMEs can provide a “foundation for sustained economic growth, job creation and poverty eradication.”

UNIDO Director General Li Yong described ISID as a critical tool to help African agricultural economies achieve food security and reinforce trade capacity. He said ISID can provide the basis of strong agro-industrial and agro-business sectors, and catalyze the structural, economic and social changes needed to “lift vulnerable communities from their precarious conditions.”

UNIDO showcased actions to promote Africa’s industrial development at a symposium in Vienna, Austria, on 24 November. The symposium, titled ‘ISID: African agro industry for food security,’ brought together representatives from UN agencies, the private sector, civil society and other stakeholders to discuss agriculture and food security within the context of ISID.

Also on Africa’s industrial development, the African Development Bank (AfDB), African Union Commission (AUC) and the New Partnership for Africa’s Development (NEPAD) hosted the Progamme for Infrastructure Development in Africa (PIDA) Week, which focused on the role of African governments in ensuring consistent policies and reforms to attract private sector investment in infrastructure. Participants recommended that the AUC work with Regional Economic Communities to harmonize implementation of all infrastructure projects and road design standards. [UN Press Release] [UNIDO Press Release] [UN Secretary-General Message] [UNIDO Director General Statement] [AfDB Press Release on PIDA]