ADDIS ABABA, July 8 (Xinhua) -- African Integration Day was marked on Friday with the call for African Union (AU) members to accelerate job creation, digital and financial inclusion as they strive to realize the African Continental Free Trade Area (AfCFTA).
Speaking at the celebration of the day which was part of the African Employment Creation Forum at the AU Headquarters in the Ethiopian capital of Addis Ababa, Monique Nsanzabaganwa, deputy chairperson of the AU Commission, urged members to create plenty of jobs through industrialization, technological advancement, and investments.
"Otherwise, it will be very hard for each African Union member state to achieve the middle-income status by 2033," Nsanzabaganwa warned, noting that a significant number of African women and youth are suffering a lot due to exclusion from educational opportunities, work, and access to digital tools.
She said the AU is engaged in mobilizing 100 billion U.S. dollars in a bid to create 10 million small and medium enterprises (SMEs) across the continent as part of its effort to ensure that women and youth are part of the digital and financial world by 2033.
Speaking on the occasion, Albert Muchanga, commissioner for economic development, trade, tourism, industry and minerals of the AU Commission, said the instabilities occurring in almost all parts of Africa have posed a serious challenge to the integration of Africa.
Muchanga stressed the need to successfully implement Africa's integration mechanisms to increase job opportunities, and improve economic welfare, GDP growth, capital inflows, and general living standards across the continent.
"AfCFTA could ease trade and investment flows and shift the composition and direction of foreign direct investment flows into Africa," said Muchanga, noting that the AfCFTA will help defragment African economies, boost their productivity, and enhance market efficiency across the continent.
Hailemariam Desalegn, chairman of AeTrade Group and former prime minister of Ethiopia, said nearly 3 million young African graduates get jobs every year despite the fact that the number of young African graduates leaving schools and colleges each year hits more than 19 million.
The chairman has called for attracting more investment into the continent in a bid to create job opportunities for the African young people labor force which is projected to reach 375 million by 2030. ■