Connect with us

News

African Economic Conference: The do’s and don’ts of youth employment

Published

on

business

African governments, working with civil society and the private sector, should formulate deliberate policies to boost employability, particularly of the continent’s youth, according to regional surveys presented at this year’s African Economic Conference (AEC) in Sharm El Sheikh, Egypt.

Researchers Abou Kane from Senegal, Joachim Tindo from Cameroon and Togo’s Mawussi Djahini-Afawoubo administered the survey to analyze the labor market in their respective countries.

The survey results on Wednesday dominated discussions at the three-day conference, hosted by the African Development Bank in partnership with the United Nations Development Program and the United Nations Economic Commission for Africa. The theme of the conference is: “Jobs, entrepreneurship and capacity development for African youth.”

Kane’s study, which sampled 2,755 people in Dakar, assessed the impact of state-run support programs. “The support programs improved the employability of the beneficiaries, but they did not sufficiently boost self-employment.”

According to him, Senegalese men have easier access to employment and are more likely to be in permanent jobs than women.

“The government and the private sector should encourage and sustain these programs. Moreover, women and young people should be taken into consideration to improve their situation,” he said.

“The programs proposed have a positive overall effect on confidence (86% of respondents), the judgment of capacities (87%) and bringing young people closer to the labor market (61%).”

Tindo explored the participation of young people in public employment in Cameroon, Congo, Côte d’Ivoire, Chad and Senegal. His study found that the economic crisis of the mid-1980s in sub-Saharan Africa had severe consequences for Francophone economies.

“These countries had high unemployment rates during this period. For Cameroon, the unemployment rate exceeded 20% between 1993 and 1994,” Tindo said.

Togolese researcher Djahini-Afawoubo examined how labor market policies affect the transition from training to working life. He called on governments to aid the formalization of small businesses in a bid to ensure stable and decent jobs for young people.

“Governments should also ensure that fixed-term jobs are deliberately created as part of state labor market policies. This could include measures to reduce the cost of labor for formal businesses and reduce the tax burden,” he added.

Continue Reading
Comments

Development

Report Underlines Reforms to Support Fiscal Federalism, Green Growth in Nepal

Published

on

Nepal has made significant strides in implementing fiscal federalism while key reforms are needed to support fiscal sustainability and Nepal’s transition towards green, resilient, and inclusive development states the World Bank’s Public Expenditure Review (PER) Report on Fiscal Policy for Sustainable Development launched today.

With the country’s transition to federalism, expenditure responsibilities have been devolved to subnational governments that are predominantly financed through intergovernmental transfers and revenue sharing. These now account for between 8 and 9 percent of GDP per year (or close to 30 percent of the annual budget). While federalism is helping bring policymaking closer to the people, it has also increased fiscal spending and (exacerbated by the COVID-19 pandemic) led to a sharp rise in fiscal deficits and public debt, states the report.

“This report provides an analytical basis to inform our reform efforts to strengthen federalism and create fiscal space to support our new focus on a green, resilient, and inclusive development (GRID) model,” statedMr. Madhu Kumar Marasini, Finance Secretary. “This complements our ongoing efforts to refine the fiscal transfer system put in place the systems for monitoring and reporting for a more results oriented and accountable delivery of local services.”

The PER identifies key reforms to help Nepal strengthen fiscal sustainability and initiate a shift to a GRID pathway. It identifies the following five top priority reforms: (i) Encouraging the update of subnational spending responsibilities through the intergovernmental grants system; (ii) supporting exports and job creation through reforms to import duties; (iii) strengthening domestic revenue, for example by reviewing VAT exemptions; (iv) enhancing public capital spending by rolling out the National Project Bank; and (v) providing fiscal incentives for a green growth transition.

“The World Bank will continue to support government reforms to improve fiscal sustainability and the implementation of fiscal federalism, drawing on the recommendations of the PER Report,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka. “This report complements our human development PER, both of which will help inform the design of World Bank support to Nepal, including through our ongoing support through our various Development Policy Credits.”

The report also stresses the importance of strengthening investment processes and fiscal policies for green growth, and fiscal policy reforms to enable Nepal to use its green electricity surplus to mitigate air pollution to protect the health of people and the economy.

Continue Reading

Development

Philippines: Boosting Private Sector Growth Can Strengthen Recovery, Create More Jobs

Published

on

Rebounding from a deep contraction in 2020, the Philippine economy is forecast to grow 5.3 percent this year before accelerating to an average of 5.8 percent in 2022-23 on the road to recovery, according to the Philippines Economic Update (PEU) titled Regaining Lost Ground, Revitalizing the Filipino Workforce, released today by the World Bank.

Government spending on infrastructure is expected to buoy growth, aided by the steady progress in vaccination leading to greater people mobility and the revival of businesses. Barring a new uptick in COVID-19 cases, household consumption is projected to recover, anchored on rising remittances and improving incomes as more people regain or find new jobs.

“The new variant has added a layer of uncertainty but economic reopening, along with progress in vaccination, is clearly strengthening domestic dynamism and market confidence,” said Ndiame Diop, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand. “As the recovery gains traction, it will be important to enhance private sector participation in the recovery by deepening current efforts to make the country’s business environment favorable to job creation while upskilling the workers so that they can benefit from new or emerging job opportunities.”

Reforms that open more sectors to foreign investments, streamline administrative procedures to facilitate market entry and encourage firms to adopt new technology are measures that can boost private sector growth, create more jobs, and strengthen recovery, Diop added.

The nearly two-year long pandemic, however, has forced the closures of many firms, leading to losses of jobs and incomes, alongside health insecurities and disruptions in children’s education.

The Philippines underwent two surges of COVID-19 infections this year, first in March-April and in August-September due to the more infectious Delta variant. In both instances, the authorities reinstated strict mobility restrictions in Metro Manila and nearby provinces, and key metropolitan areas.

Nonetheless, the recent surge and mobility restrictions have not severely hampered economic activity. As a result, the economy expanded by 4.9 percent in the first three quarters of 2021, rebounding from a 10.1 percent contraction over the same period in 2020.

In 2022, the phased economic reopening is expected to benefit the services sector especially transportation, domestic tourism, and wholesale and retail trade. Sustained public investment will continue to support construction activities.

The PEU flags that despite encouraging trends, the COVID-19 pandemic remains a major risk to the country’s growth prospects.

The report notes that even in countries with high vaccination rates, infections have continued to spread, albeit with greatly reduced severity of illness, hospitalization, and mortality. Variants of concern, breakthrough cases, and waning vaccine efficacy have highlighted the complexity of economic reopening.

“Speeding up vaccination especially in areas outside the National Capital Region and sustaining the observance of health protocols including masking and maintaining social distancing are measures that remain important as the country navigates the challenges of reviving the economy,” said Kevin Chua, Senior World Bank Economist.

Social protection measures, Chua added, including the country’s cash transfer programs remain important measures to mitigate the adverse impact of the pandemic on livelihoods, health, and education, especially among poor families.

Continue Reading

Africa Today

United States COVID-19 vaccine delivery to Mozambique

Published

on

In an effective effort to make tremendous and recognizable contributions to help fight the spread of coronavirus, the United States Embassy in Mozambique has announced the arrival of more than two million doses of the Johnson & Johnson coordinated through COVAX in Maputo, Mozambique.

This is the United States’ fourth and largest bi-lateral COVID-19 vaccine delivery to Mozambique, bringing the total number of U.S.-donated vaccines to nearly 3.5 million, and maintaining the United States as Mozambique’s largest bi-lateral vaccine donor.

“The United States remains committed to sharing vaccines equitably, around the world,” U.S. Ambassador to Mozambique Dennis W. Hearne said. “No one is protected from COVID-19 until everyone is vaccinated. As more vaccines become available to all nations around the world, we have a shared interest in getting everyone who is eligible vaccinated.”

The U.S. Government has provided early and ongoing support for the response to the COVID-19 pandemic in Mozambique, including assistance valued at $62.5 million. This assistance includes the recent donation of 60 oxygen cylinders and a PSA oxygen plant, 50 ventilators, personal protective equipment for healthcare workers, laboratory and oxygen equipment, training, and funding for increased medical staff, among other initiatives.

In close collaboration with the Government of the Republic of Mozambique, the U.S. Government provides more than $500 million in annual assistance to improve the quality of education and healthcare, promote economic prosperity, and support the overall development of the nation.

The Mozambican government’s target is to vaccinate about 16.8 million people. Excluded from the vaccination are pregnant women and children under 15 years of age. According to the latest figures from the Health Ministry, the number of people fully vaccinated against the disease now stands at 3,324,849, and 6,158,360 have received at least one dose of the vaccine.

Mozambique shares borders with South Africa where a new COVID variant (B.1.1.529), renamed Omicron, is currently spreading. Travellers from the region are monitored. The United States, Europe and Asian States have restricted flights from southern African region, and that include Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi.

Continue Reading

Publications

Latest

modi bangladesh modi bangladesh
South Asia41 mins ago

Fifty Years OF India-Bangladesh Ties: Sky’s The Limit

Bangladesh and India are two neighboring countries of South Asia and these two countries have historically had very close relations....

South Asia5 hours ago

Pakistan slips on a slippery slope of religious militancy

Pakistani political and military leaders have vowed to eradicate ultra-conservative religious extremism that drove a mob to torture, brutally lynch...

Development7 hours ago

Report Underlines Reforms to Support Fiscal Federalism, Green Growth in Nepal

Nepal has made significant strides in implementing fiscal federalism while key reforms are needed to support fiscal sustainability and Nepal’s...

Africa9 hours ago

The UK’s travel ban: Why Nigerians must look towards their leaders

Once again Nigeria’s image problem rears its ugly head, only this time, it has to do with how little care...

Development11 hours ago

Philippines: Boosting Private Sector Growth Can Strengthen Recovery, Create More Jobs

Rebounding from a deep contraction in 2020, the Philippine economy is forecast to grow 5.3 percent this year before accelerating...

International Law13 hours ago

The crisis of international law

The idea of promoting the human rights agenda in the image and likeness of the Western countries’ principles – as...

Eastern Europe15 hours ago

Lithuania: pensioners get ready for death

Main attention of the Lithuanian media has been focused on migrant crises and security issues for several weeks. This problem...

Trending