• Saturday, November 09, 2024
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World Bank seeks educational reform to boost Africa’s inclusive growth

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The World Bank’s latest Africa Pulse report has called for urgent educational reforms across the continent, emphasising the critical need to address systemic issues exacerbated by ongoing economic challenges.

The report highlights how insufficient investment in education and outdated curricula are hindering Africa’s ability to harness its demographic dividend and achieve sustainable economic growth.

“Despite signs of a fragile economic recovery, Sub-Saharan Africa remains “stuck in low gear,” with a significant youth population at risk of being left behind.

The latest edition of the World Bank’s Africa Pulse, released on October 14, underscores the pressing need for educational reform as a critical factor in jumpstarting inclusive growth.

The report, which marks its 30th edition and is themed “Transforming Education for Inclusive Growth,” projects that economic activity in the region will grow by 3 percent in 2024, up from a low of 2.4 percent in 2023.

This growth is primarily driven by an increase in private consumption and investment. Inflation is expected to decrease from 7.1 percent in 2023 to 4.8 percent in 2024, aided by tighter monetary and fiscal policies, more stable currencies, and fewer supply chain disruptions.

Read also: World Bank approves $1.57bn for Nigeria to improve health, education, power

However, this economic recovery is insufficient to lift millions out of poverty. Per capita growth remains sluggish, projected at just 0.5 percent in 2024, compared to an average of 2.4 percent between 2000 and 2014.

The region continues to grapple with significant challenges, including conflict, climate change, and escalating debt service costs. In 2024, it is estimated that 34 percent of government revenues will be allocated to debt servicing, leaving minimal resources for productive investments.

According to Andrew Dabalen, World Bank chief economist for the Africa region, “African governments are making strides to stabilise their finances and close budget gaps.

However, high debt burdens are limiting investments in critical areas like education, health, and infrastructure, which are essential for long-term, inclusive growth.”

The report highlights that Africa’s working-age population is growing faster than in any other region, largely due to improvements in child survival over the past two decades.

Despite this progress, Sub-Saharan Africa invests less per capita in education than any other region. To achieve universal education by 2030, the report estimates that education systems must accommodate an additional 170 million children and adolescents, necessitating around 9 million new classrooms and 11 million new teachers.

While the challenges are daunting, significant progress has already been made. Today, 270 million children are enrolled in primary and secondary schools, and primary school completion rates have improved markedly since 2000.

Looking forward, Dabalen emphasises the importance of equipping Africa’s youth with relevant skills and education to access better jobs and seize opportunities in the digital and green economies.

“Evidence-based planning and smart spending will be crucial to expanding access while improving learning and employment outcomes,” he stated.

Currently, seven in ten children in Sub-Saharan Africa lack access to pre-primary education, and less than 1.5 percent of youth aged 15 to 24 are enrolled in vocational training, compared to 10 percent in high-income countries. Closing these educational gaps is vital for unlocking Sub-Saharan Africa’s economic potential and fostering sustainable, inclusive growth.

Supporting entrepreneurship, facilitating the growth of small businesses, and attracting larger firms are essential measures to ensure that skilled graduates can find meaningful job opportunities as they enter and advance in the workforce.

The findings of the Africa Pulse report serve as a call to action for governments and stakeholders across the region to prioritise educational reform as a foundation for future economic stability and growth.

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