Cocoa, coffee, tea, horticulture, tropical wood and other commodities can all be grown and processed at lower costs in Africa. Africa has the competitive edge in agro-industries. Most African countries have positive, comparative cost advantage in food manufacturing, leather products and footwear, textiles, wood products and furniture. Africa has large, unused quotas for preferential exports to European Union and the United States. The continent is now ready for industrial partnerships - both for institutional aid and private investment.
Aid remains important for improving the enabling environment for private investment.
Technical assistance increasingly helps to nurture the emergence of a stronger, indigenous class of industrial entrepreneurs who can forge stronger partnerships with investors from across their borders. Africa is ready for new partnerships between large and medium multi-nationals and small and medium African industrial firms. Africa is the last great frontier for investment. Here is the last opportunity in this century to prosper with the economic power-house of the next century. Africa's time has come.