IFC Says Nigeria, Others Need At Least 20.4 Million New Jobs Yearly
Nigeria and other African countries need to create at least 20.4 million jobs every year if it must address unemployment challenges.
This is according to the International Finance Corporation, IFC a member of the World Bank Group.
“Africa needs 1.7 million new jobs every month. The only way to do it is to develop a striving and competitive sector enabled by free trade and opportunities across the continent.
“We, therefore, need visionaries, new markets and pragmatists,” the Chief Executive Officer, IFC, Philippe Le Houerou, was quoted in a statement as saying at the Africa CEO Forum in Kigali, Rwanda.
The President, Africa CEO Forum, Amir Yahmed also called on governments to enable the private sector to play its role in creating the number of quality jobs needed for Africa’s growing population.
“The African private sector and the investor have to be brought on board. Development cannot happen without them; so ambition has to move towards them and the civil society,” Yahmed said.
According to the statement, at a time when intra-continental trade remains too weak, Africa’s most influential business leaders convened at the forum to bring to the fore the burning issues to address in order to make African economic integration a reality.
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