A decent job is an essential marker of a young person’s success. It provides financial security for his or her future family and contributes to the economic growth of their country. With more than half of Africa’s population under the age of 25, the need for decent jobs is enormous. “In Africa, youth make up 37% of the working-age population, but 60% of that number is unemployed. The youth demographic is very large compared to the available opportunities in the market,” writes Obiageli Ezekwesili, former World Bank Vice President of the Africa division, in her article Youth unemployment: Challenges & Opportunities in Economic Development. In Kenya for example, a recent study by the UN Development Programme put the country’s unemployment rate at a staggering 39%, the highest in the region, compared to 24% in Tanzania and 18% in Uganda. The demand for decent jobs is only expected to grow as the Africa Institute for Development Policy estimates that the continent will account for 29% of all people aged 15 to 24 by 2050. Some organizations have taken on the youth employment challenge through innovative and broad-based public, private and civil society partnerships that have the potential to be more impactful than they could have aspired to working alone. One example is the Young African Leaders Initiative (YALI), a partnership between the U.S. Agency for International Development (USAID) and private sector representatives. Together they create opportunities for African youth by enhancing leadership skills, bolstering entrepreneurship, and connecting young African leaders with one...

One of the key strategies to revamp Zimbabwe’s economy is to ensure adequate value-added export earnings so as to boost foreign currency generation and retain high-value jobs. The weakening of domestic production in the past years and subsequent drop in exports have undoubtedly affected other sectors of the economy in general, along with the unavailability of locally-produced essential commodities and services, which have stoked persistent trade deficits. There is a need to urgently synergise public and private sector efforts in coming up with appropriate steps towards improving the country’s exports as a sustainable path to attaining real economic stability and growing the economy towards the envisaged upper middle-income status by 2030. While the National Development Strategy (NDS1:2021-2025) sets the tone for jump-starting productive capacity in key sectors such as agriculture, mining and manufacturing, economic experts have called for speedy diversification to the exportation of value-added goods and services as opposed to reliance on exportation of primary commodities. Higher value addition and import substitution are at the heart of the NDS1 re-industrialisation focus. However, in a world that is undergoing a shift from typical industrial to information-based economies, developing robust export market intelligence has become a game changer. Big corporates and governments invest more in this thrust so as to attain reliable export data, which forms the bedrock of business management decisions. Competition in the export market is ruthless and Zimbabwe has to be aggressive in order to make it. Local producers, thus, need to be assisted to build adequate export...

MAJOR upgrades in ports in Tanzania are nearing completion to boost the country's prospects of becoming a major regional transport and trading hub. The Prime Minister said in Parliament in Dodoma on Tuesday that upgrades for Dar es Salaam, Tanga and Mtwara ports were on final stages of completion as the country is focused to make optimal use of its strategic geographical location to enhance regional trade, stimulate economic growth and development and ease transportation. The premier said upgrading work on berth no 6 and 7 at the Port of Dar es Salaam had reached 90 per cent and 75 per cent respectively and dredging of 1.75 kilometre entrance channel for Tanga port was complete to allow large vessels to anchor at the port. Construction of 300 metres berth at Mtwara port, renovation of the cargo yard and warehouse number three at Mtwara Port were also complete, he said. "These projects will enable the nation to make the most of the geographical opportunities we have as well as stimulate economic growth and facilitate transportation," said the Prime Minister while tabling in the House his office's budget proposals for the 2021/2022 financial year. Dar Port Last month the fifth berth of the Dar es Salaam port was inaugurated to mark another major step for speeding up loading and unloading of cargo at the port which is a gateway for 90 per cent of domestic trade, as well as the access route to six land-linked countries including Malawi, Zambia, Burundi, Rwanda, Uganda...

For decades, African women have been trapped in poverty cycles due to several underlying factors including unequal access to education, factors of production, and trade facilities; inequitable labour-saving technologies; underpaid or unpaid labour; harmful cultural practices; and limited legal protection from gender inequality practices entrenched in society. To break the cycle of poverty and inequalities, the African Union continues to advocate for the development and implementation of policies and legal; frameworks that will create a wider array of opportunities for women, and which will lead to their economic empowerment at the national and regional levels and ensuring that the development envisaged for Africa is inclusively sustainable. With the launch of trading under the African Continental Free Trade Area (AfCFTA) in January 2021, the expectations are high as relates to the expanded business prospects for women-led business which will unlock the potential for African women to grow their business from micro to macro enterprises. The Agreement establishing the AfCFTA recognises the need to build and improve the export capacity of both formal and informal service suppliers, with particular attention to micro, small and medium-sized enterprises in which women and youth actively participate. Furthermore, the AfCFTA Protocols on Trade in Goods, Trade in Services, Investment, Intellectual Property Rights and Competition Policy provide clear guidelines to ensure emerging enterprises and infant industries are protected thus adding impetus to the Agenda 2063 goals of gender equality, women empowerment and youth development. Through the AfCFTA, informal and micro and small enterprises will be integrated into the continental markets breaking the barriers...

The Ghana Export Promotion Authority (GEPA) has partnered two international bodies to equip exporters and companies in the export trade business with the relevant skills to face emerging challenges. The authority collaborated with the Institute of Export and International Trade (IOE) and the International Trade Centre (ITC) to launch a one-year online diploma programme in export trade aimed at building the requisite human resource for the sector. The programme was launched yesterday as part of efforts by the export trade facilitation and promotion body to prepare businesses to take advantage of the opportunities under the Africa Continental Free Trade Area (AfCFTA). It is also meant to strengthen them in the face of risks emerging from the Covid-19 pandemic. At the launch in Accra, the Chief Executive Officer of GEPA, Dr Afua Asabea Asare, said it was only by empowering Small and Medium Enterprises (SMEs) to be globally competitive that we could talk about building their productive capacity to integrate global value chains and take advantage of trade opportunities externally. “One of the ways we can do this is to encourage participants to sign up for this one-year modular programme. Advances in globalisation and international trade mean career prospects in the industry are both lucrative and abundant,” she said. According to her, the speed at which Covid-19 spread around the world was a reminder of the risks associated with the deepening process of globalisation. “The up-side is that there is a growing demand for persons who understand the management and operational...

The Food and Agriculture Organization of the United Nations (FAO) and the African Union Commission’s Department of Agriculture, Rural Development, Blue Economy and Sustainable Development (AUC-DARBE) have launched a guide to boosting intra-African agricultural trade under the new African Continental Free Trade Area (AfCFTA) agreement. The AfCFTA began trading on 1 January 2021 and is the largest free trade area in the world in terms of the number of countries covered. It represents a market of 1.2 billion consumers. The Framework for Boosting Intra-African Trade in Agricultural Commodities and Services is a blueprint for expanding agricultural trade between African countries and aims to unlock the potential of the agricultural sector to contribute to sustainable and inclusive growth for Africa. Increased trade represents a paradigm shift away from business as usual and is an important part of the collaborative work towards boosting food security and nutrition for all Africans. “The Framework provides a timely catalyst for the transformation to more efficient, inclusive, resilient and sustainable agri-food systems, sustainable development and prosperity in Africa. A key priority is the pursuit of industrial transformation policies and programmes that support the private sector to add value to African exports, compete with imports from outside Africa and expand opportunities for job creation,” FAO Assistant Director-General and Regional Representative for Africa Abebe Haile-Gabriel, African Union Commissioner Josefa Sacko, and AfCFTA Secretary-General Wamkele Mene jointly stated in the publication’s foreword. Africa is a net food-importing region of commodities such as cereals, meat, dairy products, fats, oils and...

ANKARA (AA) – Africa needs to step up productive and infrastructural integration amid COVID-19 economic recovery process, suggested a report. African Regional Integration Index (ARII), a joint publication of the UN Economic Commission for Africa, the African Development Bank and the African Union Commission, provides up-to-date data on the status of regional integration in Africa. The report assessed the regional integration status and efforts of the countries that are members of the eight regional economic communities recognized by the African Union. The report welcomed the recent endorsement of the African Continental Free Trade Area (AfCFTA) by more than 50 African countries. “It is time for quantum leaps. Regional integration is the glue that will make that happen.” AfCFTA is a free trade area founded in 2018, with trade commencing as of Jan. 1 2021. It was created by the African Continental Free Trade Agreement among 54 of the 55 African Union nations. Africa’s economic growth is projected to exceed 4% in 2019-2020, an increase from 3.5% in 2018. The report said for free trade to happen seamlessly, African countries need to implement the Protocol on the Free Movement of People, which will in turn enable traders and investors to operate beyond their national borders. Spurred by AfCFTA, more than 40% of African countries are projected to post growth of at least 5% this year as commodity prices rise and domestic demand and infrastructure investments boost growth, according to the report. Jean-Guy Afrika, the African Development Bank’s Acting Director for the...

What you need to know: Lately, the UK-Africa relationship has been dominated by trade and investment issues. At the same time, the African Continental Free Trade Agreement (AfCFTA) gives hope to millions on the continent. As one of Africa’s leading economic partners, the United Kingdom has played a huge role in shaping policies across the continent over the years. Decades after independence, London still occupies a special place in many African capitals. As Britain explores new trade deals after its formal separation from the European Union, will Africans leverage the changes to their advantages? Will the UK and Africa work together to create opportunities for their people? Lately, the UK-Africa relationship has been dominated by trade and investment issues as London seeks to improve its relationship with countries across the globe. At the same time, the African Continental Free Trade Agreement (AfCFTA) – a pillar in the march towards a border-free Africa – gives hope to millions on the continent despite the Covid-19 pandemic that has ravaged economies the world over. Appreciating the context of what post-pandemic growth looks like will afford the interests stemming from the UK-Africa relationship a fighting chance in seeking a balance between intercontinental and intra-continental trade and investment deals. No longer tethered to the EU’s trade agreements, London’s post-Brexit agenda focuses on manoeuvring its relationship with individual states. Prime Minister Boris Johnson stated at last year’s UK-Africa Summit that Britain had all it took to become Africa’s “obvious partner of choice”. In this vein, the UK...

For decades, African women have been trapped in poverty cycles due to several underlying factors including unequal access to education, factors of production, and trade facilities; inequitable labour saving technologies; underpaid or unpaid labour; harmful cultural practices; and limited legal protection from gender inequality practices entrenched in society. To break the cycle of poverty and inequalities, the African Union continues to advocate for the development and implementation of policies and legal; frameworks that will create a wider array of opportunities for women, and which will lead to their economic empowerment at the national and regional levels, and ensuring that the development envisaged for Africa is inclusive and sustainable. With the launch of trading under the African Continental Free Trade Area (AfCFTA) in January 2021, the expectations are high as relates to the expanded business prospects for women-led businesses, which will unlock the potential for African women to grow their businesses from micro to macro enterprises. The Agreement establishing the AfCFTA recognises the need to build and improve the export capacity of both formal and informal service suppliers, with particular attention to micro, small and medium size enterprises in which women and youth actively participate. Furthermore, the AfCFTA Protocols on Trade in Goods, Trade in Services, Investment, Intellectual Property Rights and Competition Policy, provide clear guidelines to ensure emerging enterprises and infant industries are protected thus adding impetus to the Agenda 2063 goals of gender equality, women empowerment and youth development. Through the AfCFTA, informal and micro and small enterprises will...

Summary Sizeable drop in the number of projects and project value largely blamed on region’s inability to meet financing costs due to the effects of coronavirus. Eastern African countries cut $68.3 billion spending on infrastructure projects last year, the largest decline in number of projects and value of projects in sub-Saharan Africa in a year. This is as a result of the economic fallout from the Covid-19 pandemic sweeping across the region, hitting public finances and pushing governments into massive indebtedness. The Africa Construction Trends Report (2020) by consultancy firm Deloitte released last week shows that the number of infrastructure projects in the region covering Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, Tanzania and Uganda dropped by 35 per cent to 118 in 2020 from 182 in 2019 while the total value of the projects declined by 47 per cent to $77.7 billion from $146 billion in the same period. Infrastructure projects in the transport sector accounted for 51.5 per cent ($40 billion) of the region’s total projects, followed by energy and power (23.5 per cent) and the shipping and ports (21.5 per cent) sectors. According to the report, the sizable drop in the number of projects and project value largely resulted from the region’s inability to meet financing costs due to the effects of Covid-19 pandemic resulting in the suspension of several projects. For instance, the Ethiopian government’s interest in renegotiating payment schedules for the Addis Ababa-Djibouti Railway and Addis Ababa-Sebeta-Mieso-Dewale Road Project, led to thinned financing...