Eight point new agenda for Africa’s Competitiveness launched

Eight point new agenda for Africa’s Competitiveness launched

As the continent struggles through shocks of falling commodity prices and decline of oil prices, the close of the world Economic Forum on Africa in Kigali has seen the launch of an eight point agenda.

The agenda World Economic Forum, African Development Bank, OECD and World Bank is expected to raise levels of economic competitiveness as well as addressing the low levels of diversification across the region.

“This action agenda is from citizens for citizens: it is the hope of the four partner organizations that leaders from the region will use it as a reference to inform their policies and as a tool for collaboration,” said Caroline Galvan, Economist, Global Competitiveness and Risks, World Economic Forum.

Eight point new agenda for Africa’s Competitiveness launched

The three day forum that closed on Friday may 13, 2016 was attended by over 1,200 participants under the theme, ‘Connecting Africa’s Resources through Digital Transformation’.

The agenda, experts say comes at the time the continent is faced with no option but diversify after growth decline to 3.5 percent from of 6 percent, according to International Monetary fund-IMF as most of the economies rely on commodities.

“African economies’ low levels of competitiveness make them vulnerable to external shocks such as low commodity prices and a strengthened US dollar, and add to the urgent need for economic diversification,” she noted.

The action agenda mainly focuses on regional integration and the role of the private sector for informing policy-making and advancing implementation are key enablers in making Africa more competitive.

Also, the action agenda provides set of priorities to help diversification such as leveraging technologies promoting technical vocational training, promoting entrepreneurship for education, investing in SME capacity building.

Moreover the agenda builds on the earlier series of high-level competitiveness workshops across Africa’s regional economic communities between October 2015 and April 2016 with the aim of prioritizing actions available to leaders.
Eight point new agenda for Africa’s Competitiveness launched

Reforming curricula to meet future demands, harmonizing curricula and qualifications within RECs, , creating better public-private linkages and creating regional labour markets for high-skilled professional.

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