3RD MEETING COPENHAGEN MAY 2009

On 6 May in Copenhagen, the Africa Commission launched its recommendations and initiatives. The Commission proposes refocusing development co-operation towards private sector-led growth, which creates jobs. The Commission also decided to let action follow words and launched five ambitious initiatives aimed at creating job opportunities for Africa’s youth:

1. The creation of an African Guarantee Fund in partnership with the African Development Bank aimed mobilizing loans for three billion USD for investments and reducing the cost of access to finance for small and medium-sized enterprises, SME’s. Africa’s SME’s provide 80 percent of output and jobs in Africa;

2. Ensuring access to energy at the local level through a new initiative in partnership with the EU and the African Development Bank that will promote private sector production of sustainable energy. More than three-quarters of Africans lack access to electricity – a major constraint to private sector development, job creation and standards of living;

3. Benchmarking African countries competitiveness through a partnership with the Africa Union and the World Economic Forum. More than that, the Commission will work with a range of Africa-based entities to facilitate that the findings of this benchmarking process is followed-up by the development of detailed policy responses and concrete reforms;

4. Unleashing the power of African entrepreneurship, both in start-ups and existing enterprises, by providing advisory services and access to finance in order to allow young people to translate their good ideas into practical plans. The initiative will be implemented in partnership with the ILO and Youth Employment Network (a partnership between the UN, ILO and World Bank).

5. Post primary education and research in two tracks. The first track on technical, vocational training and skills development will increase the quantity and quality of artisans through apprenticeships and promote training in rural communities based on private sector demands. The second track will support improved links between research, higher education and business in sustainable agriculture, especially linking up to agricultural value chains in partnership with Forum for Agricultural Research in Africa under AU/NEPAD.




Read more about the initiatives and the recommendations of the Africa Commission in the report and the Copenhagen Statement.

The report of the Africa Commission can be downloaded here.
The Copenhagen Statement can be downloaded here.

Further Information
For further information please do not hesitate to contact the Secretariat of the Africa Commission.