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Africa's report: The development of a labour-intensive manufacturing industry seems to be lacking in Africa according to the World Bank

16/10/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The World Bank published the latest edition of the Africa's report on October 4, 2023. The bank believes that Africa must quickly create jobs to avoid a lost decade.

The World Bank has indicated that the development of a labour-intensive manufacturing industry seems to be lacking in Africa. According to her, this is the reason for the lack of indirect job creation effects in support services and international trade. According to the bank, there is a lack of capital, which continues to hamper the structural transformation necessary to create quality jobs.

The report also identified a series of policies aimed at overcoming barriers and stimulating job creation in sub-Saharan Africa. These include efficient private sector reforms aimed at increasing competition, the uniform application of policies regardless of company size, and the alignment of regulations between regional trading partners

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