Abstract

Thanks to the rise in global value chains and tradable services and the drop in the cost of transport and communication, the 21st century have opened up new industries as engines of growth, called 'industries without smokestacks'(IWOSS). In Africa, three major sectors have benefited from these global changes: agro-industry, tourism and business services. These activities are among the most rapidly growing sectors of the global economy and are increasingly important across a wide range of African countries. The agro-industry sector, as one of the main drivers of the Moroccan economy, contributes about 11% to the export of processed products. In South Africa, tourism sector constitutes around 3% of GDP and has been growing at the same rate as the economy as a whole. In fact, 'industries without smokestacks' are beginning to play a role analogous to the role that manufacturing played in East Asia. The lesson for Africa is to follow the same path but to adapt to the new industries of the 21st century. Through a win-win strategy that supports both manufacturing as well as 'industries without smokestacks', by means of four drivers of industrialization.