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Last updateSam, 31 Jan 2015 7pm

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Employment: 'Africa can create 4.5 million jobs annually'

Infrastructural development - The Congolese Country Planning and Works Minister, Jean-Jacques Bouya, said here Thursday that Africa can create 4.5 million jobs annually with infrastructural development, PANA reported from here.

Speaking here at the first international business and investment forum, 'Build Africa', Bouya said in addition to impacting positively on growth, infrastructure can also help to create jobs.

'If the continent can satisfy its infrastructural needs, this can help create 4.5 million jobs annually, two million of which is direct and another 2.5 million indirectly,' he observed.

The minister said he was aware that such ideas needed huge financial investments, adding:

'We are also aware that Africa’s needs are estimated at US$ 93 billion every year and this is enormous. Currently, the continent can only mobilize about US$ 45 billion and there is the need to solve the deficit of US$ 48 billion urgently.'

Bouya said the African Development Bank (ADB) is offering more than 30% of its funding portfolio to infrastructure development through its Africa 50 programme.

The bank collects US$ 100 billion annually for funding infrastructural development.

Some 1,000 participants are attending the forum.

Pana 07/02/2014