• EDITORIAL POLICY
  • ABOUT US
PML Daily
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home BUSINESS

Nobody eats GDP! AfDB President takes on African leaders for signing GDP without meeting citizens’ needs

JAVIRA SSEBWAMI | PML Daily Staff Writer by JAVIRA SSEBWAMI | PML Daily Staff Writer
February 4, 2020
in BUSINESS
0 0
5
SHARES
179
VIEWS
FacebookWhatsAppTwitter
Akinwumi A. Adesina, African Development Bank President presided over 2020 African Economic Outlook conference (PHOTO/File)

ABIDJAN — Africa’s economies are growing strongly, but growth alone cannot meet the needs of the continent’s poorest citizens, because “nobody eats GDP,” the African Development Bank’s President, Akinwumi Adesina, said as he unveiled the Bank’s flagship economic report on Thursday.

The 2020 African Economic Outlook showed that the continent’s economies are growing well, higher than the global average. The report projected a steady rise in growth in Africa from 3.4% in 2019 to 3.9% in 2020 and 4.1% in 2021.

According to the report, these figures do not tell the whole story. Across the continent, the poor are not seeing enough of the benefits of robust growth. Relatively few African countries posted significant declines in extreme poverty and inequality, which remain higher than in other regions of the world.

Africa is blessed with resources, but its future lies in its people…education is the great equaliser
Inclusive growth occurred in only 18 of 48 African countries with data, the report revealed.

According to Adesina “Growth must be visible. Growth must be equitable. Growth must be felt in the lives of people.”

The theme of the 2020 Africa Economic Outlook report, Developing Africa’s workforce for the future, calls for swift action to address human capital development in African countries, where inclusive growth has been held back by a mismatch between young workers’ skills and the needs of employers.

The Bank’s flagship report states that increased investments in education is key as well as progressive universalism in education spending—setting high priorities for the poor and disadvantaged and focusing on basic education first where social returns are highest. Its recommendations include improving access to education in remote areas, incentives such as free uniforms and text books, banning child labour and improving teaching standards.

To better match skills with job opportunities, the report recommends that governments need to develop a demand-driven education system in tune with rapidly emerging jobs in the private sector, including software engineers, marketing specialists and data analysts, the report says.

“Africa is blessed with resources, but its future lies in its people…education is the great equaliser. Only by developing our workforce will we make a dent in poverty, close the income gap between rich and poor, and adopt new technologies to create jobs in knowledge-intensive sectors,” said Hanan Morsy, Director of the Macroeconomic Policy, Forecasting and Research Department at the Bank.

Comments

Tags: African Development Bank

Related Posts

Tororo main market side view (PHOTO/Courtesy).
BUSINESS

Commissioned Tororo main market to accommodate over 1700 vendors

November 28, 2020
291
African Development Bank (AfDB) Vice President Solomon Quaynor made a powerful case for strategic investment opportunities in Africa (PHOTO/File).
BUSINESS

AfDB makes pitch for strategic partnerships with nordic businesses

October 9, 2020
353
Dr Rabah Arezki, a citizen of Algeria, is currently the Chief Economist for Middle East and North Africa Region at the World Bank, a role he has held since 2017 (PHOTO/Courtesy).
BUSINESS

AfDB Group appoints Dr. Rabah Arezki as Chief Economist

July 13, 2020
250
Nafissatou, a Senegalese national, is currently a Division Manager in the Communications and External Relations Department of the African Development Bank Group (PHOTO/Courtesy).
BUSINESS

AfDB appoints Nafissatou Acting Director for Communications and External Relations

April 7, 2020
365
African Development Bank (AfDB) president, Akinwumi Adesina has urged Power giants to utilize women's capacities to grow the sector (FILE PHOTO)
NEWS

COVID-19 CRISIS: AfDB approves $2M emergency assistance for WHO-led measures to curb coronavirus in Africa

April 7, 2020
246
Leaders acknowledged the scope of the challenge but sounded a note of optimism (PHOTO/PPU)
NEWS

African leaders vow to end malnutrition by 2025

February 10, 2020
113






 

 

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us

KIU

  • EDITORIAL POLICY
  • ABOUT US

© 2020 PMLDAILY.COM

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2020 PMLDAILY.COM

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In