Minister of Finance and National Planning, Situmbeko Musokotwane has reiterated the need for African countries to harmonize their regulations and standards, to facilitate business operations and investment within the regional blocs if job creation is to be achieved.
Dr. Musokotwane said there is need to place priority on investment in infrastructure projects that create jobs and facilitate business operations, such as roads, ports, energy, and digital infrastructure.
He said this in Lusaka today, during the Chief Economists of Government Annual Forum 2024 being held under the theme, “Job Creation in Africa: Constraints and Policy Options”.
“African countries should strengthen policies that encourage regional trade and economic integration with the sole aim of creating larger markets and enhance job opportunities across borders”, said Dr. Musokotwane.
He said the theme for this year’s forum is well aligned to the aims of the African continent as articulated in the African Continental Free Trade Area agreement, which seeks to among others, contribute to job creation in Africa by fostering economic growth, enhancing trade, and addressing various constraints through various policy options.
Dr. Musokotwane has implored African countries to leverage on advancements in technology and innovation by investing in digital infrastructure and promoting the adoption of digital technologies across various sectors of their economies.
He has also emphasized the need for African countries to support countries that are facing political instability, conflict, and economic volatility, as it deters investment and disrupts economic activities that are much needed to the contribution of job creation on the continent.
By Margaret Mwanza
