The world has changed a lot since 1987, so this post-colonial mindset might need revisiting. I don't know about cotton mills, but now the biggest steel manufacturer in the world is ArcelorMittal, an Indian company. On the other hand, British Steel was initially acquired by Tata, an Indian conglomerate, and recently "rescued" from insolvency by a Chinese investor. Any productivity advantages in manufacturing that might have existed decades ago are clearly gone by now.

I really hope that in the near future at least some African countries could be in a position to move up the value chain and take control of their own destiny as well.