Three decades of implementation of the Structural Adjustments Programmes failed to either bring structural changes to African economies or address key structural constraints. The SAPs have rather deepened the primary commodity export-dependence that Africa inherited from colonialism and increased vulnerabilities to volatile world primary commodities prices. Moreover, the open trade, investment and financial regimes and policies have had little impact on wealth creation and led to substantial accumulation of wealth in the hands of the few outside the continent. Trade liberalization has exposed indigenous industries to unfair competition from abroad leading to deindustrialization and loss of high quality manufacturing sector jobs and degradation of domestic productive capacity. Together with extensive retrenchment of public sector workers, this has increased the rate of informalization and joblessness.