The Role of Technical and Vocational Training
The African Development Bank will be organizing a regional workshop on "The Role of Technical and Vocational Training," in Ouagadougou, Burkina Faso, from November 28-30, 2007.
Africa has, since 2000, recorded significant economic growth. The continent has recorded its longest period of economic growth in two decades with a 4.7% annual GDP growth rate. At 5.5%, 2006 in particular registered the largest growth rate. The overall volume of external debt dropped from 51.4% of GDP in 2000 to 25.3% in 2006. As the business climate continued to improve, so too were private capital inflows in the form of foreign direct investments (FDI) and remittances from African migrants. Direct foreign investments accounted for about US$ 8.125 billion while migrant remittances accounted for about US$ 40 billion over the same period. Within the context of globalization and relatively to other growing regions of the world, the continent still lags behind despite these gains. To fully benefit from the global growth, the continent has to respond swiftly and must put itself on the right track. It however has an important advantage: currently, more than half of the continent’s population is less than 25 years old. Its demographic situation offers a strong economic growth potential. But this potential can only be attained if the continent’s youths are properly trained to meet the needs of the labor market. This therefore brings into play the relevance of a good technical and vocational training.
The workshop titled "Stimulating Economic Growth in Africa: Catering for the Intermediate Level Skills Gap. The Role of Technical and Vocation Training" will be organized by the Chief Economist’s Office, the Tertiary Education, Sciences and Technical and Professional Division of the Bank Group, the Francophonie and the West African Economic and Monetary Union. The workshop’s main objective is to offer a platform for reflections with a view to improving skills necessary for the continent’s socio-economic development.