The Problems of Africa’s Industrialization Substitution Strategy and Reformation Needs
Simeon Maxime Bikoue *
Advanced School of Economics and Commerce, University of Douala, Cameroon.
*Author to whom correspondence should be addressed.
Abstract
This study showed that industrialisation by substitution of imports has been a failure in Africa and has made industries in this part of the world less competitive on the foreign market. As such, a different industrialisation strategy which in the context of globalisation of economies and the fierce competition of the international market reinforces the competitiveness of African countries. This new strategy was translated amongst others by the appropriation of new technologies, protection of infant industries, cloning of manufactured products imported out of Africa, regional integration and the culture of exporting manufactured products.
Keywords: Industrialisation, strategy, infant industry, integration.