Africa 2016 - Press Conference with the Co Chairs of the World Economic Forum

TL;DR

The World Economic Forum on Africa 2016 focuses on Africa's participation in the fourth Industrial Revolution, the need for access to electricity, job creation for Africa's youth, the importance of education reform, and gender equality in the private sector.

Transcript

ladies and gentlemen good morning my name is adrian monk from the World Economic Forum my great pleasure to introduce this opening co-chairs press conference for the world economic forum on africa 2016 which is taking place under the theme of connecting Africa's resources through digital transformation before i go on introduce our co-chairs a coupl... Read More

Key Insights

• ☠️ Africa's growth rate of 4.2-4.3% is higher than the global average, demonstrating its resilience despite economic challenges.
• 🤩 Diversification of economies, counter-cyclical support, strong macroeconomic stabilization programs, and regional market-building are key to Africa's economic resilience.
• 🗯️ The fourth Industrial Revolution provides opportunities for Africa, but it is necessary to ensure access to electricity, develop the right skills, and embrace technological advancements.
• 🌍 Job creation for Africa's youth is crucial to avoid a demographic crisis, and initiatives such as the Jobs for Africa's Youth Initiative aim to create 25 million jobs over the next decade.
• 👯 Education reform is needed to meet the skills demands of the future and engage both the public and private sectors to ensure young people are prepared.
• 👨‍💼 Gender equality in the private sector, particularly in boardrooms and top management positions, is necessary for better business performance and economic empowerment.
• 🧔‍♀️ Practical measures to promote gender equality include engaging companies, providing training and mentorship programs, and increasing women's representation in decision-making roles.

Questions & Answers

Q: What is the focus of the World Economic Forum on Africa 2016?

The focus is connecting Africa's resources through digital transformation and ensuring its participation in the fourth Industrial Revolution.

Q: What is the African Development Bank's effort to address the issue of limited access to electricity in Africa?

The African Development Bank has launched a major effort called the New Deal on Energy for Africa, aiming to light up and power Africa within 10 years.

Q: How does the African Development Bank plan to address the job crisis in Africa?

The African Development Bank will announce a new initiative called the Jobs for Africa's Youth Initiative, focusing on creating 25 million jobs for Africa's youth over the next 10 years through skills development and entrepreneurship.

Q: What are the key areas of concern when it comes to education in Africa?

Education reform is needed to anticipate future skills demands and ensure young people are prepared for the 21st-century economy. Engaging the private sector and incorporating best practices from around the world are vital to reinventing education systems in Africa.

Summary & Key Takeaways

• The World Economic Forum on Africa 2016 emphasizes the importance of Africa's participation in the fourth Industrial Revolution and the need for access to electricity.

• It recognizes the job crisis in Africa and the need to create 25 million jobs for Africa's youth over the next 10 years through skills development and entrepreneurship.

• The conference also highlights the need for education reform to anticipate future skills demands and the importance of gender equality in the private sector.