Authors: World Economic Forum, World Bank, African Development Bank

 

Abstract

 

Without urgent action to address low levels of competitiveness, Africa’s economies will not create enough jobs for the young people entering the job market. If current policies remain unchanged, fewer than one-quarter of the 450 million new jobs needed in Africa in the next 20 years will be created. These are among the key findings of the Africa Competitiveness Report 2017, a biennial publication jointly produced by the World Economic Forum, the African Development Bank, and the World Bank Group. Priorities to meet the changing demographics include policy reform to improve the quality of institutions, infrastructure, skills and adoption of new technology. House construction and better urban planning present opportunities for short-term competitiveness gains.
 
The report finds that the ability of Africa’s economies to generate enough jobs for its young and growing population rests on the successful implementation of urgent structural reforms to boost productivity. Competitiveness is defined as the set of institutions, policies and factors that determine the level of productivity, and hence future prosperity, of a country. The report, which covers North Africa and Sub-Saharan Africa, comes at a time when growth in most of the region’s economies has been slowing after a decade of sustained growth. Further stagnation is likely in the absence of improvements in the core conditions for competitiveness. Compounding the challenge to Africa’s leaders is a rapidly expanding population.  
 
This report is published under License: CC BY-NC-ND 3.0 IGO.
 

Cover of the report "The Africa Competitiveness Report 2017 : Addressing Africa’s Demographic Dividend" (Credits: World Economic Forum, World Bank, African Development Bank)

Comments

No comments to display.

Adalidda, Online Community dedicated to International Development, Innovation and Sustainability
Email: info@adalidda.com  Skype: adalidda  WhatsApp/Telegram: +85577778919
 Adalidda is published by Smart International Consulting, an international consulting firm specialized in the management of foreign direct investment in the Southeast Asia and West Africa.

Website version 3.5.0 Copyright 2017-2016 Adalidda/Smart International Consulting