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Online marketplaces could create 3 million new jobs in Africa

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Christian Fernsby | Tuesday March 26, 2019 10:02AM ET
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Africa   Africa needs 1.7 million new jobs every month, according to Philippe Le Houerou

Online marketplaces could create around 3 million new jobs by 2025 across Africa, said a Boston Consulting Group report.


These digital platforms, which match buyers and providers of goods and services, could also raise incomes and boost inclusive economic growth with minimal disruption to existing businesses and workforce norms, said the report issued here.

Around 58 percent of the new jobs created by online marketplaces will be in the consumer goods sector, 18 percent will be in mobility services, and 9 percent in the travel and hospitality sector, according to the report.

The report also said the public and private sectors must work together to build the right digital environment from the outset for online marketplaces to reach their full potential.

Obstacles to industry expansion include underdeveloped infrastructure, a lack of regulatory clarity, and limited market access, according to it.

Africa needs 1.7 million new jobs every month, according to Philippe Le Houerou, the CEO of International Finance Corporation.

Africa's youth population is rapidly growing and expected to double to about 830 million by 2050, while the majority of youths in Africa do not have stable economic opportunities, according to African Development Bank Group.

Of Africa's nearly 420 million youth aged between 15 and 35, about one-third are unemployed and discouraged, and only one in six is in wage employment, said the group.

 

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