Could Investment in Machine Tools Reduce Africa’s Reliance on Imported Finished Goods and Save Foreign Exchange?
Africa has often been described as a continent rich in resources but poor in manufactured wealth. Despite possessing abundant minerals, energy, and agricultural resources, African economies remain heavily dependent on imports of finished goods—from cars and industrial machinery to household appliances and medical equipment. This dependence drains foreign exchange reserves, worsens trade deficits, and keeps Africa in a subordinate position within the global economy. At the heart of this problem lies the absence of a strong machine tool industry . Machine tools—the lathes, milling machines, grinders, presses, and computer-controlled machining systems that produce parts for all other machines—are often called the “mother industry” because they enable the production of nearly every manufactured item. Without them, Africa remains dependent on external suppliers for industrial goods. The central question is: Can investment in machine tools help Africa reduce its reliance on imported f...