The African Economic Conference (AEC) will be bringing together researchers, youth representatives, business leaders, policymakers and media representatives from Africa and around the globe, to discuss policies and strategies for successful inclusive growth and job creation in the region. The three-day conference is hosted in Sharm El Sheikh, Egypt, from 2-4 December 2019 an is expecting more than 350 stakeholders coming together to participate in the conference
The African Development Bank will be making recommendations to guide commitments of partners, this includes United Nations Development Programme (UNDP) and the United Nations Economic Commission for Africa (UNECA) to investing in youth skills and entrepreneurial development for more inclusive African development.
Tarek Amer, Governor of Central Bank of Eygpt kick-started the conference with opening remarks which was followed by a keynote address which will be delivered by Professor Hilmar Schneider, Chief Executive Officer, the Institute of Labor Economics (IZA), and Germany. The programme consists of direct dialogue between Africa’s youth and other stakeholders, and the private sector. 40 young people have been invited to debate the issues relating to their own future and voice their own solutions to job creation. According to a 24-year-old Sudanese participant “We need all stakeholders and in particular, we need solid linkages with the private sector, as drivers of innovation, providers of essential capital, job creators and employers,” said.
A new World Bank Report shows that poverty in Africa may be lower than current estimates suggest and no systematic increase in inequality , given the available data. The route out of poverty for Africa’s youth is through employment within the framework of well-tailored vocational training. Job creation is thus a generator of economic transformation and inclusive growth.“It is no surprise that youth employment is one of the highest development priorities. A concerted effort of government policies, as well as a stout involvement of the Private sector, are required to spark such changes,” said the African Development Bank’s Acting Vice-President for Economic Governance and Knowledge Management and Chief Economist, Charles Lufumpa, who is leading the Bank’s delegation to the Conference.