Wood Processing, catalyst for Africa’s industrialization – report

More investments in the wood processing industries would be conducive to African industrialization and integration, said the African natural Resources Management and Investment Center.

In a report, the center highlighted the transformative potential of wood processing across the continent in terms of boosting growth and offering jobs as well as promoting integrated markets.

Wood processing is an opportunity for construction, furniture, and craft industries leading to more job creation for a rapidly growing African population, said the report.

The authors of the reports advocate local processing of the wood in Africa to reduce reliance on imports and meet domestic needs.

However, it stresses the need for good governance to ensure sustainability and protect forests.

In terms of integration promotion, the report said that the wood processing industry could create synergies between African countries that end up strengthening regional wood trade.

There is a $65.6 billion deficit in the total trade balance for wood and wood products in Africa, the report notes, indicating that African countries are spending a lot more on importing these products than they receive from exporting them.

Regarding trade openness to the forestry sector, Cameroon, the Central African Republic, the Republic of Congo, and Gabon all feature in the top ten.

Developing wood processing industries would also help attract foreign direct investments from sawmills to more sophisticated and innovative investments.

Successfully implementing the African Continental Free Trade Area offers the main opportunity to improve the timber trade.