Current policies not sufficient to absorb Africa’s youth into economy – report
Less than a quarter of the 450-million new jobs needed for Africa’s youth over the next two decades will be created unless urgent reforms to boost productivity and competitiveness are undertaken.
The ‘Africa Competitiveness Report 2017’ reveals that Africa’s working-age population is growing faster than jobs are being created and, with the current policies in place, only 100-million new jobs will be created, leaving many youth trying to enter the job market out in the cold on a continent with stagnating levels of competitiveness.
“To meet the aspirations of their growing youth populations, African governments are well advised to enact polices that improve levels of productivity and the business environment for trade and investment,” says World Bank Group trade and competitiveness global practice director Klaus Tilmes.
The report, released at the World Economic Forum (WEF) for Africa 2017, in Durban earlier this month and, jointly compiled by the WEF, the World Bank and the African Development Bank (AfDB), said the reforms included prioritising policy reforms to improve the quality of institutions, infrastructure and skills, as well as the adoption of new technology.
“African cities have to update their urban plans, taking into account demographic and economic developments in the last decades. This is crucial to address the shortage of urban infrastructure and availability of land for residential housing,” added AfDB macroeconomic policy, forecasting and research department acting director Abebe Shimeles.
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