By SMU Singapore Management University (SMU) following a roundtable discussion which took place during the 2024 3i Africa Summit
May 2024
Africa’s youth, with over 60% of the population under 25, represent a crucial resource for driving sustainable economic development. According to the World Economic Forum, young Africans are expected to constitute 42% of the global youth population by 2030. This demographic shift presents an unprecedented opportunity for the region, with it being poised to expand its workforce by more than the rest of the world combined. As this young population enters the labour market, it is imperative to harness their potential effectively.
This report presents insights from a roundtable session that convened business leaders, academics from top universities, and tech entrepreneurs during the 3i Africa Summit 2024. The session focused on developing strategies to unlock Africa’s youthful potential by equipping young Africans with essential digital skills. It highlighted the importance of academia-industry collaborations to address skills gaps and prepare the workforce for the digital economy.
Participants at the roundtable explored the facilitation of such partnerships through several key themes:
Theme 1: Leveraging Africa’s youthful demographic for future growth.
Theme 2: Transforming Africa’s workforce for the digital economy through academia-industry collaboration.
Theme 3: Harmonising regulations across the region to foster a conducive environment for digital advancements and sustainable economic growth.
These themes provide relevant new insights, bringing together the efforts of different businesses to address future-oriented skill development. It supports constructive public-private dialogue aimed at urgent and fundamental reforms of educational systems and business regulations. These efforts are crucial to preparing Africa’s workforce for the jobs of the future, fostering technological advancement, and driving sustainable business growth.
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