(Ecofin Agency) - The African Development Bank (AfDB) just launched the Presidential youth advisory group (PYAG) which is tasked with providing innovative ideas for the creation of more than 25 million decent and sustainable jobs in Africa, over the next ten years. This was made public at the 6^th edition of the EU – Africa business forum, in Abidjan, by the institution’s president, Akinwumi Adesina.

“This is a huge opportunity for Africa. If we fix the youth unemployment challenge, Africa will gain 10-20% annual growth. That means Africa’s GDP will grow by $500 billion per year for the next 30 years. Africa’s per capita income will rise by 55% every year to the year 2050,” Adesina said.

According to AfDB’s president, 13 million African young people arrive each year on the job market. However, only 3 million out of those are able to get a decent job. Meanwhile, the youth population is expected to double to reach 800 million individuals, over the coming decades. According to statistics, 66 million young Africans earn less than $2 a day.

In the long term, the AfDB hopes to get out 50 million youths from non-employment and under-employment.

Let’s note that the PYAG comprises: Ashish Thakkar (president), from Uganda, Uzodinma Iweala (Nigeria), Mamadou Touré (Cameroon), Vanessa Moungar (Chad), Francine Muyumba (DR Congo), Jeremy Johnson (USA), Clarisse Iribagiza (Rwanda), Ada Osakwe (Nigeria) and Monica Musonda (Zambia).

Fiacre E. Kakpo