Prime Highlights-
- Africa Business Forum advanced a delivery-focused agenda to mobilise capital and partnerships aimed at generating large-scale employment, particularly for the continent’s fast-growing youth population.
- Leaders emphasised industrialisation, regional integration and innovation-driven sectors as catalysts to transform Africa into a competitive production and value-adding hub.
Key Facts-
- Between 10 and 12 million young Africans enter the workforce each year, reinforcing the urgency and scale of job-creation initiatives discussed at the forum.
- The forum spotlighted blended finance, unlocking over $1 trillion in domestic institutional assets, and regulatory reforms to strengthen investment climates and deepen capital markets.
Background-
Africa Business Forum conducted an event focusing on the continent’s Financial, Jobs and Innovation field. This event concluded in Addis Ababa this Tuesday.
Financing the Future of Africa was the theme of the event, focusing on jobs and new innovations. This event brought together governments and investors, and upcoming development institutions.
The event’s total focus was on the job creation on a large scale and expanding the youth population in growth fields. The event also talked about the three important priorities. AfCFTA thinking for Industrialisation and value addition, Employment sectors like agro-processing, electricity manufacturing, and digital services, also mentioned green industries.
The event spoke about the Financial solutions for Africa’s $1 trillion+ in pension and insurance, ending the talk about sovereign wealth assets. Digital tax systems and investment climates are also clarified in the event, aiming for deeper financial topics in the event.
“The Forum is designed to move ahead from dialogue to delivery-focused this year”, said Aboubakri Diaw.
It’s been noted that 10 to 12 million young people are entering the workplace every year, the formal job situations only allow a quarter of them, which seems to be a problem.
Africa can no longer rely on external attachments as there’s a tighter global financial condition. The rise in job rates strongly impacts the youth generation. This decision creates a strong step towards strengthening Africa’s financial future.
