Africa Development Bank has stated that the solution to poverty in Africa is through employment within the framework of learning vocational skills.
In a statement, AFDB, disclosed that Employment is the cornerstone of economic and social development in Africa and the world at large.
The development bank which is currently having its 2019 African Economic Conference in Egypt, has more than 350 stakeholders at the Sharm El Sheikh, Egypt, to participate in this year’s focus on jobs, skills and capacity development for Africa’s youth.
The African Development Bank’s Acting Vice-President for Economic Governance and Knowledge Management and Chief Economist, Charles Lufumpa, who is leading the Bank’s delegation to the Conference, also noted that the route out of poverty for Africa’s youth is through employment within the framework of well-tailored vocational training. Job creation is thus a generator of economic transformation and inclusive growth.
“It is no surprise that youth employment is one of the highest development priorities. A concerted effort of government policies as well as a stout involvement of the Private sector are required to spark such changes,” he said.
The three-day conference, which started from 2-4 December, brings together researchers, youth representatives, business leaders, policymakers and media representatives from Africa and around the globe – to hammer out policies and strategies for successful inclusive growth and job creation in the region.
The recommendations will guide commitments of partners – the African Development Bank the United Nations Development Programme (UNDP) and the United Nations Economic Commission for Africa (UNECA) – to invest in youth skills and entrepreneurial development for more inclusive African development.
“We need all stakeholders and in particular, we need solid linkages with the private sector, as drivers of innovation, providers of essential capital, job creators and employers,” a 24-year-old Sudanese participant said.
The keynote address will be delivered by Professor Hilmar Schneider, Chief Executive Officer, the Institute of Labor Economics (IZA), Germany; Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation, makes the opening remarks.