Processing of raw materials is the solution to African economies in the wake of the global financial crisis, says UN Secretary General Ban Ki-Moon.

"A slowdown in the global economy will hit exporters of primary products hard," warns Ki-Moon.

The secretary general said the continent is especially vulnerable to global economic shocks because primary products account for more than 50% of the value of exports.

"It is essential for Africa to be able to process its raw materials into higher-value products, both for domestic consumption and for exports. More than half of Africa's people are employed in the agricultural sector. This makes it essential to develop the agri-business and agro-processing industries."

Presently, Africa contributes only 1% to global manufacturing. It has relied heavily on trade in commodities thereby failing to transform its industrial landscape.

But the road for the continent has been smooth other times, especially in recent years where improved economic growth averaging 5.5% per annum has been witnessed.