CURRENT AFFAIRS

Detailed explanation-1: -Africa Industrialization Day was announced on November 20 during this session. Within the framework of the Second Industrial Development Decade for Africa (1991-2000), the United Nations General Assembly, in December 1989, proclaimed 20 November “Africa Industrialization Day” (A/RES/44/237).

Detailed explanation-2: -Industrialization, with strong linkages to domestic economies, will help African countries achieve high growth rates, diversify their economies and reduce their exposure to external shocks. This will substantially contribute to poverty eradication through employment and wealth creation.

Detailed explanation-3: -1. South Africa (0.8404) South Africa tops Africa’s industrialization rankings by being the only sub-Saharan country to perform better than the North African countries. With an index score of 0.8404, it is the closest African economy to the global standard.

Detailed explanation-4: -Historically, South African industrialisation has evolved around the dominant capital-intensive industry and associated interests known as the minerals-energy complex. The minerals revolution of the 19th century laid the foundation for the emergence of the modern South African industrial state.