Browsing: ILO

ILO points out that the informal sector is still arguably responsible for 90 per cent of sub-Saharan Africa's economy and two-thirds in North Africa.   

The sector provides 90 per cent of all new jobs and 70 per cent of all employment across sub-Saharan Africa.  

As the world changes, so as Africa. Due to economic and political setbacks, the region is shadowed by plenty of misconceptions about its role in shaping the world’s technological and education front.  

Above that, Africa is now embracing a new wave of transformation. The continent is adopting and executing new plans as it goes—bringing the digital divide by embracing edutech in schools, innovating social solution tech and startups championing smart farming in Africa’s breadbasket.   …

Africa is great and can be greater if its potential is harnessed strategically. This comes in many forms including placing enough recipes for Africa’s youngest working-age population to exploit different sectors of the economy. 

Numbers paint a rather interesting picture.  Between the year 2015 and 2035, the region’s working-age population will grow by approximately 450 million people, which is about 3 per cent per annum. 

Meanwhile, the African Development Bank (AfDB) one of Africa’s vibrant development financiers noted that “youth are Africa’s greatest asset” and could support increased productivity and stronger, more inclusive economic growth across the continent.  

Meanwhile, the International Labor Organization (ILO) pointed out clearly that unemployment rates have remained acute; the most unfortunate situation is that in sub-Saharan Africa, out of the 38.1 per cent of the estimated total working poor, 23.5 per cent is made up of young people. 

ILO’s Global Employment Trends for Youth 2020

Human Capital Horizon matters? 

The human population comprises of valuable elements necessary for the development of the modern world. As the world keeps to shake off the remnants of the coronavirus, there are some crucial ideas emerging and compelling vital changes in the way humans work. As stability is being restored, it is important also to rethink how to sustain the human capital value over space and time. The future of work is dependent on how human capital is dispersed globally and how it reacts to what we would call the development of the modern world.   

The current global crisis reveals holes in various sections of the workforce, including financial security and health coverage. With respect to Africa, the figures are heightened, and the "holes" as one would look at, in particular the formal employment sector, the numbers are astronomical.  

Africa alone has more than 24 million

The job market is ever dynamic; continuously changing as a result of socio-economic and technological development. In recent months however, the changes experienced are neither as a result of economic nor technological advancement, but rather, the health crisis that has altered the daily lives of people around the world.  

One of the major effects of COVID-19 on the labour market is the loss of jobs for hundreds of millions of people. In big economies, workers are benefiting from unemployment claims, but the same cannot be seen in developing countries in Africa where governments are grappling with means to mitigate the effects of the current pandemic.  

Predictions from the UN’s International Labour Organization (ILO) show that up to “1.6 billion workers in the informal economy – that is nearly half of the global workforce – stand in immediate danger of having their livelihoods destroyed.” 

According to the ILO Monitor