AFRICA TO SUPPLY MOST NEW WORKERS BY 2050

Sub-Saharan Africa is expected to become the world’s biggest source of new workers over the next 25 years, with more than 620 million people projected to join the region’s working-age population by 2050, according to the World Bank.

The projection highlights Africa’s rapidly growing population and the opportunities and challenges that will come with having a much larger workforce.

The World Bank said the region’s working-age population is expected to grow faster than that of any other developing region between 2025 and 2050. However, the growth in the labour force will require significant expansion in job opportunities to prevent rising unemployment and underemployment.

The bank noted that up to 12 million young people could enter Africa’s labour market each year, while only about three million new formal wage jobs are currently being created annually.

It said African countries would need to support private businesses, improve productivity, invest in skills and create conditions that allow firms to expand and employ more people.

The World Bank also stressed the importance of industrial development and investments in areas such as energy, infrastructure and human capital.

The demographic shift could strengthen Africa’s economic position if countries successfully turn the growing workforce into productive employment.

However, failure to create enough quality jobs could increase economic pressure and limit the benefits of the continent’s expanding working-age population.