text: third of GDp, it received only 10 per cent of total investments' The darnaqe to agricutture resulting from these policies was magnified by the serious drought that has affected most of Africa in the early I970s anal again during the pas! several years. Superinposed on these policies and natural disasters was lhe recession in industrial councries. which greatly reduced the denand for agricultural produccs from Afr ica . 337. Yet, developmental problens in Africa have not been confined to agriculture. The process of indust r iali zat ion in Africa has also been beset by serious tlifficulties and stagnagion. Industr ia Ii zat ion has failed to provide the dynanic force reouired for the structural transfornation of the African economies. Today' Africa is the least industrialized region of the world, having to inport practically all investrnent goods and nost tyPes of modern consumer goods' Though Africa has vast resources of iron ore, linestone' phosPhate, and bauxite, it nust still imporE nost of the steel, cenent, fertilizer and aluminum that it needs'A/4O /5I9 EnqlISn laqe f ?5 338. The share of GDp from manufacturing in Africa is only about g per cent and isstagnat.ing (see table 60 above). Manufacturing consists primarlly of lrghti.ndustries, such as cextiles, and they face a nu'ber of problems Ehat nake themouite inefficient by lrorld standards. plants are small, managenenE js inexperienced. the level of gkills is low, maintenance is inadeouate, plants oftenuse cechnologies tbat are too capi tal-inten sive and inappropriate to the rerativeabundance of labour in Africa. Tbe level of capacity utilization is often as lor.'as 30 per cent owing to the lack of forelgn exchange to purchase reouired importedinputs. Public nanufacturing enterprises are often not run efficiently, andsupport for donestic and foreign entrepreneurs is often lacking or inalequate.
analysis: The text discusses the economic development of Africa, highlighting the challenges faced by the agricultural and industrial sectors. It touches on the impact of natural disasters, international trade, and the lack of foreign exchange on the economy. The text also mentions the need for structural transformation and the inefficiencies of manufacturing industries.