(Ecofin Agency) - By 2040, 50 million out of 773 million people on the job market in Africa may lose their job. This is according to a study conducted by the Tony Blair Institute based on a World Bank report on demographic dividends in Africa.

“Unless action is taken, Africa is facing a shortfall of 50 million jobs by 2040. This should serve as a serious wake up call for all. This daunting figure will not only have profound consequences for the whole of Africa and its people, but the impact on the global economy could be catastrophic”, said Jim Murphy, former leader of the ScottishLabour party and actually adviser at the institute.

Entitled "Market-based sector development is essential to inclusive growth in Africa", the report points at disastrous policies of some countries. It also suspects a bad coordination of development aids not in accordance with the realities of the continent, particularly those of beneficiaries.

“International donors need to take a more coordinated approach, taking into account each countries individual needs, helping them to grow their economies and create jobs”, Murphy added

The institute however lauded efforts made by nations such as Botswana, Ethiopia and Mauritius over the past years, in regards to support from political authorities to private sector and development partners.

Fiacre E. Kakpo