The African development bank would be releasing another damning report on Thursday full of worrying signs.
The report would argue that as Africa becomes the youngest and most populous continent in the next few decades, its labour force would rise from 620 million in 2013 to nearly 2 billion in 2063.
To accommodate its high rate of population growth, it will have to generate between 12 million and 15 million jobs annually. That means 1.7 million jobs should be added monthly across the continent. Africa is nowhere near that number.
“This report brings together some of the world’s leading labour and development economists to provide specific policy recommendations for creating decent jobs. The report highlights that manufacturing provides more long-term economic benefits than other activities. It generates economies of scale, encourages industrial and technological upgrading, fosters innovation, and has big multiplier effects. The report also sheds light on the role of prudent macroeconomic policies and shows how best to use special economic zones, industrial parks, agro-processing zones, skill enhancement zones, and apprenticeship and incubation programs,” the bank said in a statement on Monday.
The event will feature a presentation of the report, a panel discussion on key themes of the report, and a Q&A session.
Media are invited to attend this event. To confirm your attendance, please contact: