A pan-African economic campaign titled “Power, Protect, and Purchase” has officially launched at the CANEX Weekend event in Lagos, seeking to drive continental industrial independence by transforming raw material processing into local manufacturing.
Driven by the broader Africa Made movement, the initiative aims to inject an estimated $34 billion into the continent’s gross domestic product annually. The strategy centres on shifting Africa’s economic model away from exporting raw cotton toward processing textiles and manufacturing finished garments domestically, capturing value and creating jobs within regional supply chains.
Organisers outlined a three-pillar framework to support continental industrialisation by securing competitive energy rates for factories, enacting policy protections for domestic manufacturers against unfair foreign imports and encouraging African consumers to buy locally produced goods to keep capital within the continent.
–ChannelAfrica–
