Embracing The Services Sector as a Key Driver of Africa’s Future Economic Growth
- Date: Thursday, 31 May 2012
- Venue: Arusha International Conference Center
- Time: 2:00 p.m. – 5:00 p.m.
- Guest speaker: Ngozi Okonjo-Iweala, Minister of Finance, Federal Republic of Nigeria
- Moderator: Komla Dumor, BBC
- Arnold Ekpe, CEO Ecobank, Togo
- Thiagarajan Ramamurthy, Regional Director for Strategy & Operations, Nakumatt, Kenya
- L.A. Darga, Chairman, Enterprise Mauritius
- Alhassan Umar, CEO/Director, ITE SGH Secretariat Ministry of Communications,Ghana
- Brian Molefe, CEO Transnet, South Africa
Services today account for 70 percent of global output. The process of upward development often coincides with a growing role of services in the economy. In the USA, the world’s leading services economy, business services alone employ 25 percent of American workers, more than twice as many as the manufacturing sector. The average business-service job pays an average of USD56,000 a year — more than 20 percent higher than the average manufacturing jobs. Employment in the business services sector grew by more than 20 per cent in the past decade, while manufacturing decreased by the same figure.