Today if you look across Africa there are not many countries where the job market is booming. In fact among the top 10 countries in the world in terms of unemployment, an astonishing 6 are in Africa. This is unacceptable. And indeed sitting on top of this shameful list of the top 10 in the world is Zimbabwe with an unemployment rate of 95 percent, according to the CIA. The unemployment rate as we all know is the percent of the labor force without work and looking for work. The labor force as we also know consists of only two kinds of people, those working and those that are unemployed. But what is equally frightening is that many people not classified as unemployed are also without a job, and have stopped looking because they are discouraged. If you add this number to the unemployed, the unemployment rate would be unbelievable across Africa, and especially so if there is a recession. Across Africa, the real question is not whether a country is in outright recession. It is about how to create jobs and keep jobs. Many people are starting to wonder whether Africa is still rising. And even when there was serious optimism and perhaps euphoria about Africa rising, why didn't Africa create jobs. What we essentially had was massive jobless growth. Africans are wondering whether their leaders have handed them an un-cashable promissory note. Certainly, the promise in the freedom from colonialism and the enthronement of democracy from military rule are but foul play if the people can't find decent well paying jobs. Across Africa and in Nigeria at this time, it appears governments have simply neglected their constituent local communities in infrastructure development and policy arrangements. And this has led to ineffective economic participation and weak job creation. As we have repeatedly stressed, a refined economic development in Africa model is one that emphasizes the need for the development of economically stronger African communities where the people are actively involved in determining their own fate, thereby making national economic development the product of a network of competitive communities. The RED in Africa philosophy holds the believe that national governments, in developing policy, should establish value chains that link up with state and local governments and their communities. If we don't do this we are likely sowing the seeds for frequent recessions. I am Magnus Kpakol and that's my view.
Posted: Nov 2nd, 2016 @ 09:02:09 AM