Alternative Africa

Top Menu

  • Home
  • Privacy Policy
  • Terms of Use
  • Contact Us

Main Menu

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • More
    • Health
    • News Now
    • Technology
    • World
Sign in / Join

Login

Welcome! Login in to your account

Lost your password?

Lost Password

Back to login
  • Home
  • Privacy Policy
  • Terms of Use
  • Contact Us

logo

Alternative Africa

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • More
    • Health
    • News Now
    • Technology
    • World
  • 3,800-kilometer underwater electricity cable to connect Morocco, UK

  • Egypt signs agreement to manufacture second coronavirus vaccine in Africa

  • Nigeria Is Bleeding, Defence Minister Magashi Laments

  • France backs military takeover in Chad

  • UK apologises over failure to commemorate black, Asian troops who died fighting for the British Empire

AfricaBusinessNews Now
Home›Africa›Innovation key to creating much-needed jobs in Africa- ECA

Innovation key to creating much-needed jobs in Africa- ECA

By alternativeafrica
March 7, 2019
622
0
Share:

London, March 7, 2019 (AltAfrica)-Africa has to innovate if the continent is to create sufficient decent jobs for its growing youthful population, Economic Commission for Africa’s (ECA) Executive Secretary, Vera Songwe has said.

Speaking in Addis Ababa at a joint ECA-World Bank roundtable on jobs and economic transformation, Ms. Songwe said with Africa’s rising population, estimated to increase to 1.7 billion by 2030, a growth rate of more than 8 per cent per annum is needed to create at least 120 million jobs for the youth entering the labour market between now and 2030.

“The question around jobs and economic transformation is one that almost every African leader is worrying about,” she said, adding immediate action on all fronts was imperative to address the continent’s jobs challenge in a structural way.

Economic Commission for Africa’s (ECA) Executive Secretary, Vera Songwe has said.

“Africa is growing again but we need to do better and more. It is disheartening every day to see that more Africans are falling into poverty. That is why it is imperative that we are having this discussion of creating jobs on the continent,” Ms. Songwe added.

Innovation, she said, is a major force for economic growth and development, which is crucial for the continent to create enough jobs for its youth in particular.

“Digitalization is, now more than ever, playing an important role in Africa’s economic transformation and has the potential to open opportunities to labour markets, moving beyond markets through the free movement of people,” she said, adding digitalization was transforming how businesses operate, moving individuals from the informal sector to the formal sector.

Ms. Songwe also spoke about the need for African economies to stimulate adequate industrialization through increased intra African trade.  

“As digitalization and trade create new opportunities for economic transformation through jobs, it will be important for policy makers to recalibrate policies towards strengthening human capital. Policies geared towards a highly skilled, knowledgeable and healthier population are pertinent in ensuring prosperity and thereby reducing poverty on the continent,” she said.

For his part, Akihiko Nishio, the Vice President for Development Finance at the World Bank, said it was fitting that they were discussing jobs and economic transformation in Ethiopia.

Having visited Ethiopia’s Bole-Lemi Industrial Park the previous day, he said; “It was impressive to see how the Ethiopian experience shows that ambitious, forward-looking and well executed initiatives can have a big impact in supporting transformation and job creation.”

“For most developing countries and development institutions like ours, the need for more and better jobs remains a top development priority. Jobs are a source of income, a means of raising productivity, and for meeting the aspirations of hundreds of millions of people,” said Mr. Nishio.

The challenges are daunting, he said, adding Africa will require that at least 15 million jobs be created each year to keep pace with its demographics.

“Failing to deliver good jobs for the growing youth population not only risks squandering the demographic dividend, but raises significant social risks, contributing to fragility and driving young people to migrate abroad in search of better opportunities,” said Mr. Nishio.

He said tackling the jobs challenge requires economic transformation.

“It means moving workers from lower to higher productivity activities led by a vibrant private sector and supported by public policy actions. This does not happen overnight, but requires committed leadership, sustained investments and efforts, and concerted support from all partners,” added Mr. Nishio. 

This is why since 2017, he said, with support from International Development Association donors and borrowers, the World Bank adopted Jobs and Economic Transformation (JET) as a special theme under IDA18 to make its support for some of the world’s poorest countries more focused and deliberate.

The joint workshop focused on three topical areas: digital transformation, trade and global value chains, and human capital for jobs

SHARE ON:
TagsAfrican YouthsECAJob CreationVera Songwe
Previous Article

Demand for renewable energy in Southern African ...

Next Article

One Year On, Africa Free Trade Deal ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

alternativeafrica

Related articles More from author

  • AfricaNews Now

    ECA-Uruguay partnership to focus on Africa’s agricultural sector

    February 27, 2019
    By alternativeafrica
  • AfricaHealthNews Now

    ECA, Zimbabwe review road safety performance in bid to reduce carnage

    August 6, 2019
    By alternativeafrica
  • AfricaBusinessHealthNews Now

    ECA proposes 7 painless strategies for African countries to exit coronovirus lockdown

    May 11, 2020
    By alternativeafrica
  • AfricaBusinessNews Now

    EU to partner Economic Commission for Africa on implementation of African free trade, AfCFTA

    June 3, 2019
    By alternativeafrica
  • AfricaBusinessNews Now

    African Minerals Development Centre moves from ECA to African Union Commission

    February 18, 2019
    By alternativeafrica
  • AfricaBusinessNews Now

    Nigeria: Lagos leads other states in job creation, adds 740,146 jobs in 12 months-NBS

    April 29, 2019
    By alternativeafrica

Leave a reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You might be interested

  • AfricaHealthNews Now

    Nigerian hospital records 23 free open heart surgeries for children

  • AfricaHealthNews Now

    South Africa to conduct daily conoravirus test for students returning to campus

  • AfricaBusinessNews Now

    African Union, ECA pledge full support to Zimbabwe on AfCFTA implementation

Timeline

  • April 23, 2021

    3,800-kilometer underwater electricity cable to connect Morocco, UK

  • April 23, 2021

    Egypt signs agreement to manufacture second coronavirus vaccine in Africa

  • April 22, 2021

    Nigeria Is Bleeding, Defence Minister Magashi Laments

  • April 22, 2021

    France backs military takeover in Chad

  • April 22, 2021

    UK apologises over failure to commemorate black, Asian troops who died fighting for the British Empire

  • Popular

  • Comments

  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Morocco begins regional integration by connecting Casablanca Airport with High Speed Train

    By alternativeafrica
    January 4, 2020
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • Archbishop of Canterbury hosts Leah Sharibu’s mother in London

    By alternativeafrica
    February 21, 2020
  • Macron in Ivory Coast to launch anti-terrorism academy

    By alternativeafrica
    December 21, 2019
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two | taktik(z) GDI (Government Defense ...
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack fol­lowed a January ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack followed a ...
  • chibueze evarlistus ogbonnaya
    on
    July 22, 2020

    Gambia promotes policewoman who controls traffic despite heavy rain

    This is Awesome
AlternativeAfrica.com is an independent Pan African News Website dedicated primarily to influencing the negative narratives about Africa. We hope to do this by focusing and showcasing the many developmental strides sweeping across the continent.

Read more >>>

Contact Info

  • info@alternativeafrica.com
  • Recent

  • Popular

  • Comments

  • 3,800-kilometer underwater electricity cable to connect Morocco, UK

    By alternativeafrica
    April 23, 2021
  • Egypt signs agreement to manufacture second coronavirus vaccine in Africa

    By alternativeafrica
    April 23, 2021
  • Nigeria Is Bleeding, Defence Minister Magashi Laments

    By alternativeafrica
    April 22, 2021
  • France backs military takeover in Chad

    By alternativeafrica
    April 22, 2021
  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Morocco begins regional integration by connecting Casablanca Airport with High Speed Train

    By alternativeafrica
    January 4, 2020
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • Macron in Ivory Coast to launch anti-terrorism academy

    By alternativeafrica
    December 21, 2019
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two | taktik(z) GDI (Government Defense ...
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack fol­lowed a January ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack followed a ...

Photostream

    "); $('.flicker-popup-link').magnificPopup({ type: 'image', closeOnContentClick: true, closeBtnInside: false, fixedContentPos: true, mainClass: 'mfp-no-margins mfp-with-zoom', // class to remove default margin from left and right side image: { verticalFit: true }, gallery: { enabled: true }, zoom: { enabled: true, duration: 600, // duration of the effect, in milliseconds easing: 'ease', // CSS transition easing function opener: function(element) { return element.find('img'); } } }); }); }); });

    Follow us

    • Home
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © Copyright Alternative Africa 2017 - 2021. All rights reserved.