South Africa 2017 - Press Conference Launch of the Africa Competitiveness Report

TL;DR

Key insights from the launch of the Africa Competitiveness Report 2017 focusing on job creation and economic growth.

Transcript

good morning ladies and gentlemen welcome to the first press conference of today day two World Economic Forum on Africa 2017 or 27th meeting in Africa one of the longer running periods of intellectual research we put performing at the monocle reform is global competitiveness it's it's one of our core research products we launched it every year we l... Read More

Key Insights

• 👶 Africa needs 450 million new jobs in the next two decades to meet workforce demands.
• 🔒 Private sector investment crucial for job creation, with 90% of new jobs expected to come from the private sector.
• 🤩 Infrastructure development, education reforms, and governance improvements are key for enhancing competitiveness in Africa.
• 👳 Importance of urban planning, affordable housing, and special economic zones for creating competitive cities in Africa.
• 🌍 Collaboration between international organizations and financial institutions essential for implementing development programs.
• 🫒 Tunisia's success in repositioning its olive industry as an example of creating value in agricultural sectors.
• 🎓 Focus on skills training and vocational education to address skills shortages in the labor market.

Questions & Answers

Q: How many new jobs does Africa need in the next 20 years?

Africa requires around 450 million new jobs in the next two decades to meet the growing workforce demand.

Q: What are some key suggestions for improving competitiveness in Africa?

Recommendations include infrastructure development, education reforms, good governance practices, and reducing bureaucratic hurdles to enhance competitiveness.

Q: What role does the private sector play in job creation in Africa?

Approximately 90% of new jobs in Africa are expected to be created by the private sector, highlighting the importance of private investment in job creation.

Q: How is the African Development Bank supporting housing programs in Africa?

The African Development Bank is collaborating with stakeholders to implement housing programs and address housing backlog in Africa to create jobs and improve living standards.

Summary & Key Takeaways

• Launch of Africa Competitiveness Report by World Economic Forum, World Bank, and African Development Bank.

• Emphasis on job creation in Africa, requiring 450 million new jobs in the next 20 years.

• Suggestions include infrastructure development, education, governance improvements, and cutting red tape for competitiveness.