Gross Domestic Product (GDP) increase should indicate availability of job which ensures growth in the nation.
The President of African Development Bank (AfDB), Dr Akinwumi Adesina, disclosed this at a presentation on the African Economic Outlook held on the sidelines of the ongoing 2024 Annual Meetings in Nairobi.
Adesina said we have to ensure that our growth also gives value to the youth and women. We do not need GDP. It does not matter how that GDP is. We have to make sure that it is creating quality jobs for our people.
He identified youth unemployment as a critical issue, pointing out that Africa could not afford to have 477 million young people under the age of 35 without opportunities.
“We must invest in our young people, in their skills, talents, and entrepreneurship, and give them tools.” He expressed enthusiasm for initiatives like the Youth Entrepreneurship Investment Banks and the Special Agricultural Processing Zones, designed to transform agriculture structurally.
“I have said it: Migration to Europe is not Europe’s problem. It is our problem. We cannot have 477 million young people under the age of 35 and have nothing for them.
“Trading among ourselves in a free trade zone must be backed by industrial manufacturing to avoid being competitively poor.
“We need consolidated infrastructure for export-oriented industrial manufacturing to increase our manufacturing share of GDP,” Adesina said.
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