By TF News Reporter
Creating quality jobs for millions of Africa’s youth will boost economic growth and significantly cut poverty, says a new report released by the World Bank.
The report says with more than half of Sub-Saharan Africa’s population now under the age of 25, and as many as 11 million young Africans expected to join the labor market every year for the next decade, creating millions of productive, well-paying jobs will be vital to create shared prosperity in Africa.
The Bank report on youth employment in Africa says while many African economies have registered impressive economic growth in recent years, poverty levels across the region have not fallen as much as expected and young people looking for better-paying work have been at a great disadvantage.
“This is partly because many African countries rely heavily on oil, gas, and mineral extraction which boosts economic growth but does little to create new jobs for the region’s fast-growing youth population or reduce overall rates of poverty,” says the report.
In a new comprehensive regional report on the subject, ‘Youth Employment in Sub-Saharan Africa’ notes that close to80 per cent of the workforce will continue to work on small farms and in household businesses in the near future.