The third National Development Plan identifies human capital development as one of the fundamentals to accelerate the country’s transformation and harness the Demographic Dividend. The Demographic Dividend is the benefit that may arise from a change in the population age structure when the working (and productive) population is more than the dependents.
Industrialization is fundamental to Africa’s development. According to the Africa Industrialization Index 2022 report, Africa’s rapid growing internal markets and large labour force are an impetus for industrial development. However, industrial development has grown at a slow pace. The Africa Industrialization Index (AII) is a flagship initiative by the African Development Bank (AfDB) aimed at strengthening data on Africa’s industrial development.
