Economy

UNECA tasks policymakers on policies, infrastructure to spur innovation, economic growth

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UNECA tasks policymakers on policies, infrastructure to spur innovation, economic growth

By Temitope Ponle The United Nations Economic Commission for Africa (UNECA) said African policymakers should ensure that the continent has the right policies and infrastructure in various sectors, especially in information and digital technologies , and tourism. The Secretary-General said it was about ensuring job creation and enabling young people to be innovative and to become entrepreneurs for the economic development of the continent. “Empowering Women and Youth to Drive Africa’s Transformation Agenda” in Lagos. protection. “For all of this to happen, we need our policy makers to make sure that for all sectors we have the right infrastructure, we have the right policy framework, to ensure that we can create jobs and enable young people to ” be innovative and become entrepreneurs themselves. , saying UNECA was looking for ways to support small and medium-sized enterprises in the agriculture and energy sectors, to continue their activities amid the COVID-19 pandemic. companies fall under and focus a lot on retention. Africa, particularly the West African region, has the demographic dynamics working there. every year, but only 3.1 million of them find a job. “We need to make sure that we have the perfect match between the jobs that young people are looking for and the training they are receiving, because many young people in West Africa, and in Africa in general, are not receiving the right training. they need. The Executive Secretary stressed the importance of the ratification of the African Continental Free Trade Area (AfCFTA) by governments, as this would further support entrepreneurship and innovation among women and youth. Do more; we need to do better because West African women are known to be the engine of our growth and our economies, they are the ones who trade across borders. allowing them to do their business and the strength to drive this environment creates the right regulatory framework and the most effective framework our leaders have tried to put in place is the African Continental Free Trade Area (AfCFTA). an additional trillion dollars to meet the needs: first unlock our borders, create value chains and ensure that African women all work together to create the supply chain for textiles, fashion and agro -industry. products and earn more of that and they can also become larger sub-regional and continental and international businesses and not limited to the geographic areas in which we exist today, ”she said. UNECA, in 2017, noted that nearly 60% of Africa’s population was under 25, making Africa the youngest continent in the world. The adoption of the AfCFTA in 2018 and its entry into force in January 2020, have opened up opportunities for women and young people on the continent, particularly in West Africa. The opportunities of the agreement include: a common market of combined gross domestic product estimated at $ 3.4 trillion; trade in goods, services, investments, intellectual property rights; and intra-African trade up to $ 35 billion per year. Other opportunities were also a decrease in imports from outside the continent of $ 10 billion and an increase in agricultural and industrial exports. The forum, which started on Tuesday and was scheduled to end on Thursday. , brings together women and young people from 15 West African countries, business leaders, the private sector and small and medium-sized enterprises, among others. The objective of the meeting is to support the socio-economic empowerment of women and youth to harness the dynamic demography for development and accelerate the structural transformation of West Africa, using the AfCFTA as a focal point. anchoring.

Source: NAN

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