Friday July 7, 2017
Money transfer company Dahabshiil has pledged to work with global public bodies to increase the working population in Africa to fast track economic growth.
CEO Abdulrashid Duale said they are is ready to work with the Africa Union and the United Nations in implementation of the African Union goal to harness the demographic dividend through investments in youth.
He was speaking in Addis Ababa, Ethiopia during the AU summit on Friday.
The plan was endorsed by the Heads of State and government in January, and formed the main discussion during the AU summit.
Duale said Africa’s growth can only be sustained through empowering of women and youth who form a large portion of the continent’s work force.
“Women and youth play a vital role in the building of our economies in Africa. I am happy the African Union has made a serious statement in their summit by putting these two groups first,” he said.
“For the economy to grow, the youth must play a big role because they are the majority. But women too are vital as they are very entrepreneurial in nature,” Duale added.
According to Duale, global financial institutions such as the World bank, Africa Development bank, International Monetary Fund, and regional development banks which provide loans, grants and technical assistance to governments as well as loans to private businesses investing in developing countries; need to join the AU and UN to actualize this plan.
“Harnessing the demographic dividend through investments in youth is the key to achieving the bold aspirations of Agenda 2063.
"We need to implement the key deliverables in the roadmap and transform education and skills development, health and wellbeing, empowerment as well as employment and entrepreneurship as we march towards inclusive economic growth and sustainable development,” said Amira El Fadil, the Commissioner for Social Affairs at the AU Commission.