H.E. Mr. Demeke Mekonnen, Deputy Prime Minister of Ethiopia participated in a round table discussion organized by the African Growth Platform at the ongoing World Economic Forum.
The Platform was launched last September in Cape Town with the objective of bringing all stakeholders together to address the Continent’s timely challenges, particularly youth unemployment through the development of 100 million SMEs (Small and medium scale enterprises) and startups by 2025.
At the meeting it was reported that Africa has the largest youth population in the world with SMEs contributing only 33 percent to the Continent’s GDP.
Participants underlined the need to change the narrative through the development of the SMEs and startups to generate the necessary capital and further propel Africa’s economy.
The Africa Growth Platform therefore is an important initiative in which governments and business communities work together tapping available opportunities, particularly digital economy in nurturing SMEs and startups to create jobs for the growing youth population and contribute to the growth and development of the Continent said participants.
Participants also stressed the need to develop the private sector and tap the resources of African Diaspora through creating an enabling environment to promote investment in the Continent.
It was also mentioned that Africa which is the least beneficiary of the 4th Industrial Revolution must enhance its efforts to leapfrog in developing modern economy and compete effectively in international markets.
Mr. Demeke highlighted the emphasis given to the home-grown economic reform and strategic efforts to tackle the challenges of youth unemployment in Ethiopia.
At the round table Mr. Demeke had also a discussion with the Presidents of Ghana and Senegal and they agreed to work closely and exchange best practices on improving quality of works, entrepreneurship and skill development.
Heads of Government, ministers, businesses and civil society representatives attended the round table discussion.
