Key messages:

• For resource-based industrialisation to succeed, countries and regions need to optimise the different forms of linkages –fiscal, production and consumption ones– within and outside of the extractive sector.

• There is no one-size-fits-all solution to address the challenges that resource-rich nations face when it comes to optimising their extractive-industry. It requires policy to be implemented step-by-step. There needs to be collective responsibility and efforts at the national, regional and global level. Leadership from the private sector is also vital.

• This paper focuses on how resource-rich African economies can make better use their extractive resources to foster industrial development. Industrialisation is key to Africa’s economic transformation so the question is not whether countries should conduct industrial policies, but rather how to implement policies in an efficient and pragmatic way.

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Authors

Isabelle Ramdoo (Alumna) Deputy Head of Programme Economic Transformation and Trade