UNIDO Goodwill Ambassador and CEO of the Made in Africa Initiative Helen Hai said today that Africa had a good chance to attract most of the 85 million jobs that will be relocated out of China in the coming years.
Ms. Hai, who was making a presentation during a visit to the Headquarters of the African Export-Import Bank (Afreximbank) in Cairo, said that as China’s economy had grown, labour costs for certain sectors had gone so high that the affected industries were actively looking to relocate their production to areas where wages were lower.
According to her, Africa has the population to absorb these jobs so that the development represents a golden opportunity which the continent must take advantage of.
“If Africa can capture this opportunity, it will reap the same enormous benefits enjoyed by the Asian Tigers,” said Ms. Hai who noted that an industrial movement had already started in Africa.
Afreximbank President Dr. Benedict Oramah (right) with UNIDO Goodwill Ambassador Helen Hai.
Ms. Hai, who runs a shoe factory in Ethiopia and who helped the Ethiopian government to set up an industrial park, said that the lack of infrastructure in Africa should not be an impediment to industrialization, noting that people were very skeptical when she was about to set up her factory in Ethiopia in 2012 but that factory now employs some 3,500 workers and produces and export quality products to major world markets.
Earlier, Afreximbank President Dr. Benedict Oramah expressed satisfaction at the opportunity for the Bank to partner with Ms. Hai for the industrialization of Africa and said that she had proven that Africa could become the next export manufacturing hub for the world.
He said that the Bank was interested in doing industrialization actions that would produce quick results and spur others to join the effort because they see the benefits that could be gained.
Ms. Hai, who doubles as adviser on investment promotion and industrialization to the governments of Ethiopia, Rwanda and Senegal, is also Vice President and General Manager for Overseas Investment for the Huajian Company, one of China’s biggest shoe makers. Her Made in Africa Initiative, aims to assist African countries to capture the opportunity of inclusive sustainable development.
Afreximbank President Dr. Benedict Oramah (3rd right) and with UNIDO Goodwill Ambassador Helen Hai (4th right) with some members of the Afreximbank team.
Cross-section of Afreximbank staff listening to UNIDO Goodwill Ambassador Helen Hai.