African Development Bank President calls for inclusive growth warning nobody eats GDP Updated for 2021

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Updated: February 27, 2021

The African Development Bank President Akinwumi Adesina has for inclusive growth, even as the economies in Africa continued to expand with inequalities widening as well.

The 2020 African Economic Outlook (AEO) showed that the continent’s economies are growing well, higher than the global average. The report projected a steady rise in growth in Africa from 3.4% in 2019 to 3.9% in 2020 and 4.1% in 2021.

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According to the report, these figures do not tell the whole story. Across the continent, the poor are not seeing enough of the benefits of robust growth. Relatively few African countries posted significant declines in extreme poverty and inequality, which remain higher than in other regions of the world.

Inclusive growth occurred in only 18 of 48 African countries with data, the report revealed.

According to Adesina “Growth must be visible. Growth must be equitable. Growth must be felt in the lives of people.”

The theme of the 2020 Africa Economic Outlook report, Developing Africa’s workforce for the future, calls for swift action to address human capital development in African countries, where inclusive growth has been held back by a mismatch between young workers’ skills and the needs of employers.

The Bank’s flagship report states that increased investments in education is key as well as progressive universalism in education spending—setting high priorities for the poor and disadvantaged and focusing on basic education first where social returns are highest. Its recommendations include improving access to education in remote areas, incentives such as free uniforms and text books, banning child labour and improving teaching standards.

To better match skills with job opportunities, the report recommends that governments need to develop a demand-driven education system in tune with rapidly emerging jobs in the private sector, including software engineers, marketing specialists and data analysts, the report says.

“Africa is blessed with resources, but its future lies in its people…education is the great equaliser. Only by developing our workforce will we make a dent in poverty, close the income gap between rich and poor, and adopt new technologies to create jobs in knowledge-intensive sectors,” said Hanan Morsy, Director of the Macroeconomic Policy, Forecasting and Research Department at the Bank.

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1 COMMENT

  1. I would like to thank President Akinwumi Adesina for his deep insight in Education. His focus is always at the root of the problem, which is Education. It is a pity that most African children lack good education, while others have no education at all. Children in Africa suffer from multifaceted problems including malnutrition, stunting, disease and early childhood mortality. Most African leaders still have no faith in education as the basis of development. That is why they are not investing in education: building good schools, paying teachers sufficient salaries to stay at school for long time; building laboratories; investing in textbooks; trusting local educators rather than always looking for foreign educators and education systems. Let our leaders undersgtand, please, invest in education if you are thinking of development.
    Thank you presdient!! You are one of the best leaders of Africa.

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