At a World Bank conference in Rome, President Tharman Shanmugaratnam urges urgent investment in education, infrastructure, and job-rich sectors to tackle Africa鈥檚 youth employment challenge.
President Tharman Shanmugaratnam delivered opening remarks at the World Bank Group Conference on 鈥淟aying the Groundwork for Jobs in Africa: Core Infrastructure and Business Environments鈥 held at Banca d鈥橧talia in Rome, Italy, on 4 March 2026. The event was attended by Banca d鈥橧talia Governor Fabio Panetta, Italian Minister of Economy and Finance Giancarlo Giorgetti, World Bank President Ajay Banga, and European Central Bank President Christine Lagarde.
President Tharman highlighted the steep challenges facing large-scale job creation in Africa, citing shifts in global trade rules, disruptive technologies such as AI, and rapid demographic growth. He emphasized that 1.2 billion young people are expected to enter Africa鈥檚 workforce in the next decade, making employment a global priority.
To overcome these challenges, President Tharman outlined four critical steps:
- Strengthen Education: He stressed investing in schooling and skills-based training, keeping girls in school, and preparing youth for future employment.
- Expand Infrastructure: He called for urgent investment in broadband and electricity to close Africa鈥檚 largest infrastructure gaps.
- Boost Regional Trade: He urged acceleration of the African Continental Free Trade Area (AfCFTA) to create cross-border economic opportunities and scale regional markets.
- Focus on Job-Rich Sectors: He highlighted renewable energy and agri-food as sectors with high job-creation potential, noting that investment in these areas can generate more employment than traditional manufacturing or fossil fuel sectors.
President Tharman noted that Africa鈥檚 natural advantages鈥攊ts solar and wind resources, hydro potential, and 70% of the world鈥檚 arable land鈥攃an drive sustainable employment growth. He called for mobilizing public policy, private finance, and international collaboration to realize this opportunity, describing job creation in Africa as a 鈥済lobal common good.鈥
He concluded by expressing optimism about the initiative launched by Italy鈥檚 Mattei Plan and the World Bank Group, with active support from Banca d鈥橧talia, emphasizing that bold and timely action can overcome the steep odds against large-scale employment creation in Africa.
Source: Istana
