Aliko Dangote, Africa’s richest man has described the high unemployment rate in Africa as a time-bomb.
According to him, although the continent continued to witness progress in member states, its economic progress is dangerously being threatened by the unemployment time bomb.
“We have seen this (time bomb exploding) in north Africa. The time bomb we have is these youth not having jobs” he said, and urged governments to prevent an unemployment disaster by facilitating sustainable job creation.
Mr Dangote made the observation in a panel conversation with Mo Ibrahim at the 2019 Ibrahim Forum in Abidjan, Cote d’Ivoire at the weekend, on the theme, “Africa’s youth: jobs or migration?”
The iconic African businessman said it was sad that Africa’s integration, which was needed to create a sustained market for individual economies to expand and create more jobs, was not happening as expected.
According to him, although there were free trade agreements in the AU and regional blocs, they seem to be working only on paper.
He cited an instance where Benin would not allow in his Dangote cement from neigbouring Nigeria, but imports cement from China.
“We cannot progress and create jobs for the job when there is no political will to tear down the trade barriers,” he said.
By ADR Daily Newsdesk