The 2014 International Monetary Fund world economic outlook
report shows a continent that, though recording impressive growth, needs
several things fixed to improve the livelihood of its population.
According to the report, six out of the 10 fastest growing economies in the world are from Africa.
The
recent discovery of natural resources in a number of Africa countries
has led to increased flows of foreign direct investment.
However,
despite this tremendous growth story, poverty levels still remain high
and affect about 45 per cent of the region’s households.
Inequality
in access to education, health services, and jobs has remained a
nightmare to the continent, most of whose countries have an average
economic growth rate of five per cent.
Although the
continent has, in recent years successfully sought integration on a
number of issues, with infrastructure leading the pack, very little has
been achieved in improving the social wellbeing of its population.
Seventy
per cent of the continent’s 1.1 billion residents are young people aged
less than 25 years. However, seven out of 10 jobless people in the
continent fall in this category.
The challenge
confronting Africa is inequality and exclusion. The much-touted economic
growth that is being witnessed in Africa today is not sustainable
unless governments promote inclusiveness in all sectors.
African
governments must ensure that the benefits of growth reach more people,
especially the poorest, thereby aiding poverty reduction.
It is naïve to ignore mounting evidence that inequality is a threat to economic growth in the continent.
There is a need for a joint strategy and policy changes to target integration of all citizens in the growth of the continent.
YOUTH UNDERUTILISED
It
is tragic that the most productive constituent of the continent’s
population is underutilised. With many young people unemployed, the
threat of disruption to growth has always been real in the continent.
We must not forget that the poor cannot sleep because they are hungry and that the rich cannot sleep because the poor are awake.
Most
economies in Africa are based on agriculture. There is a need to invest
in agriculture and make it more attractive to the youth. More young
people need to be given support through knowledge, skills, capital, and
technology to venture into agri-business.
An estimated
60 per cent of the world’s uncultivated arable land is in Africa. The
arable land offers an ideal opportunity for the public and the private
sector investors to produce and market agricultural products.
Also,
Africa is predicted to be the new demographic powerhouse of the world.
Half of the world’s future population growth will be driven by Africa.
This
creates a rising rapidly potential work force. There were 460 million
workers in 2010 and the number is expected to increase to almost 800
million by 2030.
As Africa’s economies move more to
service and knowledge-based sectors and with increasing advancements in
technology, this trend will influence the sourcing of talent and demand
for skills.
Ultimately, Africa must prepare for the
development of its work force, focusing on models that aim to integrate
the youth and marginalised communities into employment.
Mr Obonyo is the external adviser on the UN Habitat’s Youth Advisory Board. (raphojuma@hotmail.com)
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