GO TO SPEAKERS
More than 84% of the world’s workforce lives in developing countries. This share continues to grow. Africa must generate two million jobs each month by 2040 to meet its growing workforce needs. In South Asia, over one million people reach working age every month. Countries have an opportunity to improve both the quantity and quality of jobs. Today, 7 out of 10 workers in developing countries work in jobs that often lack financial and job security.
Investing in human capital means equipping people with knowledge, good health, and skills so they can take on the jobs of today and create the jobs of the future. When countries and communities invest in people, they create a strong workforce that’s able to grow and adapt to global shifts including technological transformation and climate change.
Panelists discussed solutions that can boost job creation & entrepreneurship. All panelists agreed that skilling people and removing barriers for women and young people are critical. Mamta Murthi, World Bank Vice President for Human Development, advised governments to prioritize investments in people because those human capital investments can provide some of the highest returns. Governments can also facilitate international labor mobility, while the private sector can help by engaging in more skills partnerships.
Amal Hassan, Founder and CEO, Outsource Global of Nigeria, spoke of her company’s dedication to intentionally upskilling employees for success. Fellow entrepreneur and job creator Basima Abdulrahman, Founder & CEO of KESK, an Iraqi solar energy company, agreed on the importance of skilling and emphasized employee empowerment. She shared how it was on-the-job experience which allowed her to thrive despite the bias she experienced as a woman leader in a high-tech field.
Axel van Trotsenburg, World Bank Senior Managing Director of Development Policy and Partnerships, stressed how investments across the lifecycle, especially education, but also access to credit, digitalization and reliable infrastructure are critical to solving the jobs challenge. Countries, he emphasized, should give entrepreneurs—women and youth especially—the conditions to succeed.
[Rachelle Akuffo] Hello, and welcome to the 2023 Annual Meetings of the World Bank Group and IMF. I'm Rachelle Akuffo, Anchor for Yahoo Finance, and we are live from Marrakesh, Morocco. Now, before we start, I want to acknowledge the devastating earthquake that took place in Morocco last month. At this very difficult time, we are here to stand by Morocco and its people. Now, over the next hour, we'll be discussing human capital. And more specifically, we'll be talking about the importance of human capital, that is, people's health, education and skills to create jobs. You can share your thoughts on this topic anytime using the hashtag #WBmeetings. Please, send us your questions either online at worldbank.org/peopleandjobs, or in person using the QR codes you see displayed in front of you. Now, before we're joined by our esteemed panel, we have a short video to really help us frame this conversation and really set out the magnitude of the challenge and opportunity ahead.
[Video starts] [Narrator in video] Here's an idea. An idea worth a billion. One that will lead to the best innovations you've ever seen. The most powerful thinking that'll redefine the future, helping you and your country grow by billions. Do we have your attention? One word: people. Your future workforce is already born. One billion of them. People eager to be their best selves. People ready to shape what our world will look like. We, at the World Bank Human Capital Project, a movement that has grown from 28 countries to 90 countries strong, see people as tomorrow's solutions. What they need today is strong human capital. They need quality education, good health, skills. They need you to make sure our future is in her good hands. His good hands. Their good hands. A billion good hands. Are you ready to join us? To enable a billion livelihoods? To create a billion jobs? To build a billion dreams? [Video ends] [Audience applauds]
[Rachelle Akuffo] Now, remember that throughout the program, you can share your thoughts online using the hashtag #WBmeetings. Now, let's dive right into the conversation. Please, join me in welcoming Mamta Murthi, Vice President for Human Development at the World Bank. Amal Hassan, Founder and CEO of Outsource Global based in Nigeria. Basima Abdulrahman, CEO of KESK in Iraq. And Axel van Trotsenburg, Senior Managing Director of Development Policy and Partnerships at the World Bank. Welcome to you all. [Audience applauds]
[Mamta Murthi] Thank you.
[Rachelle Akuffo] Now, our video made clear the scope of the situation that we face. Between now and the year 2050, one billion people, all in developing countries, will be added to the working age population. So, Mamta, I want to first start with you. You just wrapped a closed- door discussion with the Human Capital Network Ministers of Finance on how we can invest in people as job creators and innovators. Can you share your key takeaways from that discussion.
[Mamta Murthi] Thank you so much. I'm absolutely delighted to be here. For those of you who don't know the Human Capital Project, this is our fifth birthday. We have been in existence for five years. I'm absolutely delighted that we have seen the network of countries who are interested in investing in people grow from 28 to 91 today. Now, we just finished a very interesting discussion active, animated, lively, on investing in people for job creation. And the reason for that discussion is that developing countries face a huge challenge in creating jobs, because there will be one billion people entering the labor force in these countries between now and 2050. And what's clear is that while you need a competitive economy, you need access to finance, you need infrastructure, you also need skilled people. Skilled people to engage in productive activity and skilled people to create jobs. So, there was a lot of attention on education, skills and vocational training, but also, on connecting people to jobs. Because many people are simply not able to access the jobs that are available. There was also a lot of emphasis on removing the barriers that women and young people face in accessing the labor market. There were talks about how to access jobs in the international labor market, not just in the domestic labor market, and last but not least, how to support entrepreneurship. It was a very lively and active discussion with Ministers learning from each other on what they can do.
[Rachelle Akuffo] And I think people should also remember that investing in human capital has a compound impact that goes beyond just the person getting this investment, but also across generations. So, I want to bring in an entrepreneur here. Amal, you have a remarkable story as a business leader and entrepreneur. Can you tell us a little bit about your journey in becoming an entrepreneur and how you built the skills that you needed to start your business?
[Amal Hassan] Thank you very much. It's really an honor to be here today talking to all of you. My name is Amal Hassan, as she mentioned, I'm the Founder and CEO of Outsource Global. Outsource is a business process outsourcing company. We provide BPO services and other services like IT services, software development as a service, customer service, and telemarketing to companies in US, UK, Japan, and Africa. I started my career with an IT Training Center in the Northern part of Nigeria, Kano. And after training a lot of IT professionals, I realized that I'm not changing their lives. They come into the centers, they get trained in MCSE, Oracle and all these big IT courses, and they go back into the market without a job. I started researching on what I could do to create employment. And I was dealing with a lot of Indians at the time, and I realized that business process outsourcing provides millions of jobs to Indians. America has been outsourcing their customer service to India since 1980. And I said, “Why not Nigeria?” And I started moving towards establishing the company. It took me eight years to start the company. I started it four times and failed. But we went live in June 2016, and today we are 1500 employees and 50% are women. I need to mention that. [Audience applauds]
[Manta Murthi] One of the things we have done right from day one is that we called our establishment “Establishing Excellence.” How do we compete? How do we compete with India? What are the things that are required for us to be able to serve the international market? Not just America, but we were focused on America, which is a very big market. One of the things we've done from day one is create our training team. What do we have in the market? Nigeria graduates are a million graduate every year with different skill sets, but they have to be upskilled to be employed, to be put on a client's campaign. We put in a structured training, from communication skills to attention to details, to time management, to critical thinking for them to be able to be enrolled into a client specific training. This is just before going live into the training of a client. I'm going to later talk about… Do I still have time? I'm going to talk about the different kinds of trainings. But after one year of operations, I still realized that graduates in Nigeria do not want to come in after studying Accounting, Software, Legal, after being lawyers, to be customer service representative and sales. I changed the business model. We changed the business model to a partnership model. We see ourselves as growth partners to our clients. Whatever skill sets or employees you require to grow, we'll find the right skill sets in Nigeria. So, we started with Legal. We take lawyers in Nigeria. We have a partner that trains people on the gap training to be able to serve the US market. We looked at different kinds of training. It started with paralegals. Today, those lawyers are doing much more than paralegal work. We looked at Accounting also as a service. And we partnered with somebody that has designed a project, a program basically to upskill our accountants in Nigeria to be able to serve the international markets. And we looked at the US again as a market. So, the same thing with Software Development also as a service. So…
[Rachelle Akuffo] Yes.
[Manta Murthi] Okay, you'll come back to me.
[Rachelle Akuffo] Yes, I will definitely come back to you. And it's obviously helpful to get those examples of what's possible. As you mentioned, continuing upskilling is needed to adapt to the current environment. Basima, I want to bring you in here, could you tell us about how human capital has been important to your own journey as an entrepreneur, and also, how you were able to develop the skills that you needed to succeed, especially in a very challenging environment?
[Basima Abdulrahman] Thanks, Rachelle. I will talk from my personal journey. There is a misconception that successful entrepreneurs will have to come from a privileged background. They will usually think that who made it into entrepreneurship, establishing their business, must have had top-tier education and training to get to that level. I personally received education from public schools and universities in Iraq, but I managed to utilize all the resources that are available to advance my skills. Back in 2008, I graduated and I joined the public sector. After one year into working with the government sector, I'd realized that it's was not my calling, so, I applied for a scholarship. I did my Masters in the US, I came back during ISIS time, the country was going through a difficult time, and I decided that I was really passionate about green building and green practices. I started applying for grants multiple times to go abroad and get professional training in green building practices. And at some point, I decided to establish my business. I knew I didn't have that kind of practical experience in establishing and running a business, but I also realized that experience comes from taking action, doing. And I've realized that there would never be the perfect time and I would never be in the perfect situation, professionally and personally, to establish a business. That's why I decided that, “let me start, give it the chance, and I will learn by doing.” And thankfully, it's been wonderful. Four years and a half so far. We have an installation capacity… We're a solar energy company. We synergize solar energy solutions with software solutions for solar energy assets management. We have an installation capacity that reached up to 1 MW annually, and we're expanding. And that's with only 5% of the market share.
[Rachelle Akuffo] And you raise a fantastic point about not waiting for this perfect moment, which essentially doesn't exist, but really starting where you are and seeking out the resources. I'm glad that you brought that up. Now, we know that human capital is critical to economic development, but just how much impact could it actually have? Well, the World Bank estimates that if everyone was able to achieve their potential through knowledge, skills, and good health, and if more people worked in jobs that made the most of their human capital, we could more than triple productivity and income. So, Axel, I want to bring you in here, because given what you've just heard about opportunities at the country level, how is the World Bank investing in human capital for more jobs?
[Axel van Trotsenburg] Well, I think it comes from two sides. And actually, we have had here at the Annual Meetings a lot of talk about the reform of multilateral institutions, about our new mission. And one of the components of the mission is also inclusion, and that is particularly on human development and jobs. And what we see is absolutely essential. We see the potential of human capital, and then jobs. And I just wanted to remind people about this. Fifty or sixty years ago, when we looked at the world, including in Asia, there was sometimes a bit of a doom and gloom, and sometimes you hear that again these days. A famous Nobel Prize winner, a Swedish economist, Gunnar Myrdal, wrote a book about Asian drama, and essentially condemned the whole continent. They said, “Well, they will never develop. India or Southeast Asia couldn't feed themselves; they couldn't pull themselves out of, they couldn't create jobs, there will only be corruption, et cetera.” And now you see where they are today, which is good not always to rely on economists for their advice. But what is actually essential is the systematic investment in human capital, and that is on education, but ultimately in the entire infrastructure. It is not in education that you say, “Well, we start there to think about primary, and then maybe secondary.” You need the entire chain. And maybe, actually, starting from prenatal care to postnatal care, so that these kids get actually fat well. Because, unfortunately, malnutrition is still one of the main obstacles for kids or young people to get good jobs, because sometimes their intellectual development is being retarded because of malnutrition. So, we cannot only say, “You go to school,” they need to be well fed. We need to care for them. Even from pre-K, you need to stimulate these kids, and then you can get is actually fantastic results. One of the things is that, as a society, we need to be totally committed to this, but not only in education, at the beginning, but we have to continue in secondary, tertiary education. Today, it’s continuous learning. Because today, you no longer have a job and you know you will be in the same job forever, you will need to change skills and that value chain needs to be created. But what we just heard is also we need to believe in people, and particularly we need to believe in women. Ajay mentioned that today at his Annual Meeting speech, “It is a bit difficult to deny all the women and girls the same rights and possibilities. Actually, we are foregoing economic welfare, because so many women are denied all the opportunities they should get.” And if we could only complement the entrepreneurship of women and men, we may actually be a lot more successful on this. And also, as societies, there has to be a deliberate move towards empowering more women, and then for the younger people. It is not only for young female entrepreneurs, but also for all the young entrepreneurs. The possibilities are giving access to credit, access to infrastructure, meaning electricity. Keep in mind that in Africa still 600 million people have no access to electricity. So, it’s better access to Internet, digitalization. The younger generations also need the toolkit to succeed. And we cannot only see that on education. We need to see the whole part, and I believe that very often, this is a problem that we see in one dimension, but it's multidimensional. But I think that what both of you are seeing is that there is an incredible potential out there that can transform. And our challenge, not only as an institution, is what we can actually do to stimulate it. This is not only comparing notes on this, but also in our dialogues with governments to see, “Can actually governments change policies that actually are pro?” Use entrepreneurs and provide the necessary conditions so that they could succeed. That doesn't mean that companies will fail. That is okay. But I think what you need to give is also belief. I think sometimes people don't believe enough in their younger generations.
[Rachelle Akuffo] And it's true. And those are the investments that do need to grow as the needs grow to really unlock that potential that people have and meet those needs, instead of them being siloed and not to look at the big picture. Amal, I want to bring you back in here, because entrepreneurs like you not only create jobs, but you also give back by taking what you've learned to build the skills of your team. Can you talk about how you leverage your own human capital to then invest in your company's people?
[Amal Hassan] Thank you very much. I think I touched a little bit on it. So, what we have done after one year of providing customer service and sales, I looked at the different people that graduate in Nigeria every year, one million graduates with different skill sets. We can actually serve the world from Nigeria. And I started partnering with experts in different professions. We started with software development as a service. And we got a partner in Silicon Valley that created a program. We worked together to create a structured learning program that trains our team based on the needs of companies in Silicon Valley. So, there has to be an intentionally setting up of the curriculum based on how they're going to be employable, how they are going to be employed. We structured that learning and we tested it, and we outsourced IT, right? And we added data to it, data analysis. And now we've added AI to those who are going to work with us. So, that's one thing. We have trained them and we have outsourced them. And everybody we have trained in the early days have been outsourced. Right now, we've established Outsourced Global Academy, which is a software academy that is focused on software AI data, and we're adding more courses to it. So, in that way, we have a large pool. Right now, we have about 300 people training. I know there are only 24 people that have not been outsourced yet, after finishing from our academy. So that's one. The same thing we did with software, we did it with accounting. You got a partner in Houston and said, “How do we upskill our people based on your needs? How do you expand your team with us? What is the kind of training that is required for us to do that?” And we structured a training based on the gap that they have. They are already accountants. They've learned at university. After doing our soft skill training, then they go into a training with him. So, that's how we're able to do that. And now they're providing accounting as a service to accounting firms. They expand their teams from our own team. We’re doing the same thing with PMS, professional medical services. After COVID-19, we realized there's a big gap regarding administration in hospitals in the US. The US is not the only market, but we always model things from the US, and then we expand it out. So, we created a training. We got a partner who has already a curriculum regarding training people on professional medical services. And we have now trained 19 people, and gradually we are outsourcing them. That's really what we have done. The same thing, we are adding other program based on the needs of the market. So, we are constantly researching and what can we introduce? We have this massive number of people that graduate in Nigeria. How do we get them? So, now we have three centers across Nigeria and we're expanding to a French location in Africa, and we're also expanding to a Spanish location before the end of the year.
[Rachelle Akuffo] That's a very important point…
[Amal Hassan] Yes…
[Rachelle Akuffo] …about the pipeline, because a lot of times there's training, but then there are no jobs. And you have employers who are saying, “Look, we have a knowledge and skills gap.” So, to be constantly activating that and making that match is very important, especially for the jobs of the future. And, of course, entrepreneurship is another critical component of job creation, especially for women. In fact, over half of women in developing countries see entrepreneurship as a path to a better future. But on average, only a quarter of new business owners globally are women. Basima, I want to bring you in here, what particular barriers do you see women facing as entrepreneurs and what did you find helpful in overcoming those barriers?
[Basima Abdulrahman] A very sensitive question… To be honest, we don't see many women in STEM fields in general, not to mention leading companies in high-tech industries, or in STEM fields, or mainly in male dominated sectors. That's not because women are incapable. It's mostly because women get less opportunities to get into careers in these sectors, and hence, advance and lead these sectors. So, I come from a region, and I think this is not a regional perspective around women, it's more of a global thing, but I understand there is this kind of social biasness towards women working in high-tech engineering sectors. And I've trained myself to understand it and accept it, because I understand most of the social biasness is unconscious. So, I make sure that I'm always equipped with the knowledge, with resources, with innovative ideas to communicate with potential investors, with clients and with partners. I've often been in a situation where I get into a room, I can sense the skepticism for being young, being a female talking to senior level people from high level organizations, but five minutes into the conversation, I can see the room changes and the environment and the dynamic change, because they've realized that I understand what I'm doing. I understand their needs and we're crafting solutions based on their specific needs to meet their economic benefits as well. It's very important to know much better than anyone else what you're doing and knowing also more about their problems than they, themselves, and present the right solutions. It's all about the power of knowledge and resources. And they realize that we have all the resources and expertise to take on these solutions and help them and support their businesses, especially businesses in Iraq that are suffering from shortage of power supply. It's one of the greatest obstacles to growth. We are addressing their needs. And this is something… I usually never take any kind of rejection personal. I always take it as a learning experience, how we can advance better in our approach and the way we present our solutions rather than blame the outside world for this kind of subconscious biasness, whether it was subconscious or unconscious.
[Rachelle Akuffo] And that's very helpful. I'm sure a lot of us have been in rooms where there has been bias presented. You feel that, but as you mentioned, it's that knowledge that is power. And knowing your product and your service and having the resources and the ability to communicate that can really change perceptions. Axel, I want to bring you in here, because we've been talking about partnerships and collaboration, and countries are looking to the World Bank to bring together new partners on investing in people for job solutions. So, can you tell us about how the World Bank is reimagining and deepening its work with the private sector and other partners on jobs as well?
[Axel van Trotsenburg] Well, I think this is again a chance for this whole evolution to think of many of the things and doing this differently. And we need always to keep in mind the challenge that we are facing. We have seen that the world has to create 1.1 billion jobs for young people by 2030. We are not on track on this. So, then, you have to say, “What can we, as organizations, do in order to stimulate the debate?” And there are different interventions that we can do. A: it is certainly through our convening power that we have a private sector arm and a public sector arm. So, we can actually combine that quite well. Then, actually listening to the private sector, what some of the concerns have been. In the past, we have done a lot of surveys on, for example, doing business, but that was also how you create jobs. I think we will have a new generation of this where we are going to look particularly at these areas of creating jobs. So, this is a whole area where we will need to work and you need to actually listen carefully. And then what you will see is that there are different areas where you could develop programs do first deep dives. One is in the whole regulatory one. When we were just talking before, we started with this session about the solar industry. What are the regulatory conditions? What are the feed-in tariffs? What are constraints to financing? And there is a whole range of issues which you would need to address to actually fully exploit the potential, for example, of solar power in Iraq, but also elsewhere. There is, then, the whole area of what the public sector can do in terms of creating the infrastructure that is necessary. We've talked earlier on the whole education challenges and then there is the question on investments. Investments on supporting this that can be from the infrastructure education, but it can also be in working with the private sector. And here, particularly, our private sector arms can be helpful. I think, personally, I would like to see us, and I'm thinking here out loud, we have in IDA, that is our Fund for the poorest countries, we have a private sector window that helps derisk. And often I've been thinking how can you actually create platforms? I've been challenging my colleagues. Can we actually think of bigger platforms that are really supporting young entrepreneurs? And I think that is what we need to do. What I find, actually, and I'm very sympathetic with this, is that if you travel sometimes in Africa, and I saw that in the Sahel zone, you’ll have a lot of young people with a lot of ideas and with old equipment. They need a little helping hand. They don't want to have a handout, but they want to have maybe some risk capital or electricity. There are some of these conditions. And I think we need to listen very carefully. In this continent, where we know, and this is the youngest continent on Earth, it will double its population, in order to make the dream come true that you can reduce poverty even more radically, you will need to create those jobs. And I think, therefore, you need to invest more on this. I, for once, feel that was a good part of the discussions we have been having with our board members on the reforms in the Bank that jobs should be far more prominently. We have to do a lot of work there; Mamta has that in her portfolio and quite a bit of analysis is being done. But we will probably need to up our game on this and see how we can further work. That will require continuous dialogue not only with the officially established private sector, but also with younger entrepreneurs to actually get good feedback on how we can help as an institution. [Rachelle Akuffo] I hope we do see some more of that momentum from your colleagues. I know, especially when we look at global youth unemployment rates, you do see this eagerness for young people. They have the ideas. It is just a question of perhaps accessing the resources. Indeed. Now, of course, throughout I've been reminding you all to use the QR codes to submit your questions or online as well. So now, I'd like to turn to a few of the questions from our audience who have been posting questions online, both before and during the event. Amal, this question is for you. An audience member asks, “What changes are needed in education systems and skills development to better prepare people for jobs, particularly, in a world facing technological and climate change?”
[Amal Hassan] Thank you very much. I think that's a very good question. So, starting from young education, digital literacy is really very important. What are the odds of a young woman growing up, born and brought up in Kano, Northern Nigeria, thinking to serve the world from Nigeria? That digital literacy, that IT training that I have gotten, got me to start thinking what does the world need and how do I serve the world, right? How do I create employment using that? It is really important from early age in Africa. I know that in developing countries and developed countries that is already going on. We need to do more and find a way to bring in digital literacy into our primary school and early education. Another thing that we really need to do is, while we are doing that, is that environmental awareness and the way that children from early stage should be aware of how to protect the environment, what they need to do, should also be part of their curriculum. In that way, both technology and environment are incorporated into the culture of their growing up. So, when you remember the learnings that you've heard as a child, those are practices that you do in an early stage that get inhabited in you and you actually behave like that when you grow up. So that needs to be done. Going into higher institutions, there has to be a collaboration between the industries and the universities. So, the universities are teaching. When people leave universities, there's a gap, especially in Africa. How do we fill that gap? These soft skills are really… Starting with soft skills is really very important. Basic communication skills, critical thinking, how do you analyze information and use that information to make informed decision? All those things are really very important in learning. Then the industries, what do they need, how do we incorporate what you need into the learning? And I think that's very important. Of course, I mentioned STEM is really very important. Our core curriculum should be STEM, especially in Africa. I know the developing countries and developed countries are really doing very well, but we are very way behind. And one of the basic disadvantages that we have in Africa is the lack of resources. So, primary schools do not have power, energy and all that. How do we work with governments to establish that in the university? I think starting with this alone will make a huge difference. But when you're looking at low-hanging fruit right now, how do we create skill development centers? And I think we touched on it earlier. India did that with IT and now they created huge employment in the IT sector around the world. I don't think you can go to any tech companies without seeing a majority, or a very large number, of Indians working there. And this is basically based on the National Skill Development Corporation. So that effort alone, that learning, should be replicated across countries in Africa. I know Nigeria is planning to do the same. In fact, there's going to be a launch by the Digital Economy, the Ministry, of something like that, which will really help in developing university graduates, or people without university degrees, with high school degrees, to achieve learning developments that will get them to be employed.
[Rachelle Akuffo] And you raise a good point there about not just the resources and also that gap that happens after university, but also the soft skills which often aren't the things that are taught in universities as well. I want to move on to our next audience question. Basima, one of our viewers commented that “Skills help people get jobs, but people continue growing through doing their jobs.” So, please, tell us about human capital within your company, and can you tell us how do you support your employees to learn and develop their skills, Basima?
[Basima Abdulrahman] Thanks, Rachelle. It's a very important topic considering that the solar energy sector is not new, it's been there for 25 years, but globally, the development of the sector was very slow. So, I've realized since day one that we are working in a sector, in a region, in a country, where there is scarcity of skilled human capital in the solar energy sector. So, to go out and hire people with all kind of experience in that specific sector is basically not feasible. We realize that with some relevance in educational background, the most important things are the qualities of the individuals. Having the relevance, experience or education is important, but what if there isn't any? In this case, we have to look at other qualities. Individuals with passion, commitment, willingness to learn. These are the most important things we look at, in addition to how relevant their education and experience or past experience in this sector are. So, we try to be as patient as possible when we have new hires. We understand we have to invest in them for some period of time, provide them with the resources, direction, build their capacity, and most importantly, despite providing them with the resources and the tools, we have to let them lead. It's remarkable how people can excel when they are believed in, when they're given the chance to lead and be proactive in their prospective sectors. We have had to, beyond the engineering, the software development and other technical expertise, have heavy capacity building. Also, like Amal said, soft skills are very important. We empower people to speak up at platforms. I've had situations with my teams who were afraid of even sit on the same table with decision makers or senior level professionals from potential clients. But I pushed them, because I know, at some point, they have to lead, they have to be sitting on the same table even with a huge difference of age and expertise. I feel this pleasure of giving them this opportunity. And after two, three years, I see them handling these meetings without me being there. And these are the small wins I always celebrate inside of me, let people lead, let people believe in themselves, give them the chance to prove themselves. And beyond the core teams and the specialties, we did engage in partnerships with a number of UN organizations, including WFP most recently, to develop capacity of technicians, laborers, to handle solar energy projects across Iraq. These are more like the skilled force that we need to handle projects across the country, because we do have core teams in two locations. But to take on the installation of projects across the country, we do focus on developing the capacity of local communities and hire, provide them with even temporary, but yet long-lasting skills for these communities to excel in the energy solar energy sector.
[Rachelle Akuffo] I appreciate that, especially because a lot of people sometimes do have that impostor syndrome If they're not in a position of either been in leadership or being around some of these high-level to trust their own voices in those spaces. But they're there because they belong there. So, I appreciate that. Mamta. Of course. This has been a very engaging panel. So, how can we take momentum forward to deliver more jobs by investing in people? I know it can be tough, especially a lot of fiscal priorities out there. How do we move forward on this?
[Mamta Murthi] So, that's not an easy question to answer, but let me say that I feel very enthused by the fact that there is a lot of interest. We are getting a lot of interest from both, governments and from the private sector on this issue. I think there's a recognition, right, that the challenge of employment is significant. How can we talk about a sustainable planet if people do not have an income to support themselves? So, that's why, as a part of the new mission statement of the World Bank, we talk about sustainability delivered through growth and human development, including jobs. So, I think there's a recognition that, as this planet is threatened, instead of seeing a contradiction between economic growth and environmental sustainability, we have to see these things coming together. You can't really talk about one without talking about the other. And I think we all believe that we have to protect this planet that we are born on, not just for ourselves, but for future generations. And in order to do that, we have to make sure that everybody can sustain themselves. So, I think there is a momentum around this agenda. I also spoke earlier about how we see a lot of interest on the part of governments, the public sector, in terms of what to do about having an environment where there is job creation and people have access to these jobs. So, I think that's also very positive. Now, obviously, there's a budget envelope that governments have and they have to prioritize. There are a number of tools that we make available to governments to use, so that they can prioritize and invest in things which provide the highest return and cut back on things which are harmful. And investing in people provides very high returns and they can find the resources for that by cutting back on the things that don't provide a high return and can even be harmful, like subsidies for fossil fuels, programs that have not been shown to be effective. I think governments have tools and there's a demand from populations that they use those tools. I think on the private sector side, I think the world is changing, right? We are in the midst of a massive demographic change. We know that populations are growing rapidly in sub–Saharan Africa. They're sort of plateauing in Asia, and they're actually declining in the rich world. The only way in which there can be growth potential for companies that are located in rich countries is if they are able to partner with poorer countries in skilling their populations, and if there is international cooperation, so that there can be more labor mobility. We see a lot of interest in this issue as well. We are very happy to see the private sector advocating for more openness to labor mobility and more willingness to partner in skills partnerships, to engage in skills partnerships. I am biased because I work in this area, but I do see a lot of momentum around this issue of investing in people to create jobs and have a sustainable planet.
[Rachelle Akuffo] And you certainly raise a good point about those demographic shifts really changing what the future of work is going to look like. A big thank you to all of our guests for joining us to discuss this important issue. It's clear from today's session that more and better investments in people are critical to build human capital and stimulate job creation, including, importantly, through entrepreneurship. And while countries and the World Bank are working to support and develop human capital, it will take cooperation and collaboration across all sectors, including the private sector and the civil society, to address this challenge and, of course, leverage this opportunity. Well, that brings us to the end of this event. We hope it's been informative and engaging for you. You can watch the replay of this session and our other events at live.worldbank.org/annualmeetings. And, of course, please, continue sharing your comments online with the hashtag #WBmeetings. We'd love to hear from all of you. Thank you so much for joining us today. [Audience applauds]
00:00 Welcome | More Jobs through Investing in Human Capital
03:41 Key takeaways of the Human Capital Network Ministers of Finance
05:52 Voices from entrepreneurs: Building the necessary skills to start a business
13:14 How the World Bank is investing in human capital to create more jobs
19:17 Leveraging own human capital to invest in a company's people
23:34 Barriers that women face as entrepreneurs and how to overcome them
27:20 How the World Bank is working with the private sector and other partners
32:47 Live Q&A | Preparing people for jobs in a world facing technological and climate change
37:42 Live Q&A | Supporting employees to learn and develop their skills
42:18 Taking momentum forward to deliver more jobs by investing in people
46:21 Closure
Lead Economist, Human Capital Project, The World Bank
Lead Economist, Jobs Group, The World Bank
Hello everyone, and welcome to our event “MORE JOBS THROUGH INVESTING IN HUMAN CAPITAL”. We'll start in a few minutes. Please stay tuned and submit your comments and questions using the live chat.
Moderator: Erick Rabemananoro
Human capital is key to job creation. Investments in human capital equip people with good health, education, and skills and enable them to create jobs. This is the theme of this public event that follows the closed-door Human Capital Ministerial Conclave, where Ministers of Finance meet to discuss progress on human capital in their countries.
You can join the conversation on social media using the hashtag #WBMeetings and #InvestinPeople. This event will also be livestreamed on our World Bank X (formerly Twitter), Facebook, and LinkedIn accounts. We remind you that interpretation will be provided in Arabic, French, and Spanish.
While we wait for the event to begin, learn more about Human Capital:
www.worldbank.org/humancapital
Moderator: Erick Rabemananoro
Welcome everyone! I’m Erick Rabemananoro, and I will be moderating the online discussion today. I'll be providing updates and highlights from the event, and sharing resources on the topic at hand.
Moderator: Erick Rabemananoro
I’m joined by our expert live bloggers who will answer questions during the event. Our expert bloggers are Wendy Cunningham, Lead Economist, Human Capital Project, and Elizabeth Ruppert Bulmer, Lead Economist, Jobs Group. They are assisted by Daisy Demirag, Economist at the Human Capital Project.
If you'd like to watch the event and participate in the chat using a different language such as French, Spanish, or Arabic, please use the language menu located in the top right corner of the page.
Moderator: Erick Rabemananoro
Today’s event is being moderated by Rachelle Akuffo, Anchor, Yahoo Finance. There will be two rounds of moderated questions, followed by one or two audience questions. Listed on this page you can see the speakers participating in today’s discussion.
Moderator: Erick Rabemananoro
Greetings to all
HASSAN ALHATTAB
Hassan, thank you for joining the session. We hope you will enjoy and learn something new.
Moderator: Erick Rabemananoro
Before starting, let’s watch a stage-setter video highlighting around the concept of 1 billon - noting that people empowered with human capital are the solution to take on and create jobs.
Moderator: Erick Rabemananoro
The planet will be home to one billion more working-age people by 2040. From 5.1 billion people today to 6.1 billion people.
Moderator: Erick Rabemananoro
Our event moderator, Rachelle Akuffo, kicks off the panel discussion by inviting Mamta Murthi, Vice President for Human Development at the World Bank, to provide reflections from the closed-door Human Capital Conclave.
Moderator: Erick Rabemananoro
In addition to Mamta Murthi, panelists include Axel van Trotsenburg, the World Bank’s Senior Managing Director, responsible for Development Policy and Partnerships, Basima Abdulrahman, CEO & Founder, Kesk (Iraq), and Amal Hassan, Founder and CEO of Outsource Global in Nigeria.
Moderator: Erick Rabemananoro
The World Bank gives enormous support to governments in most developing countries. What’s the bank doing to ensure that some of amount is used to support the underprivileged for purposes of educating them with employable skill that assist them to be self-reliant and reduce the huge number of unemployment ?
Ebenezer Yeboah Tuffour
We agree that learning job-relevant skills is critical to live a better life. More than 100 countries are working with the World Bank to improve the quality of education and training programs. We also support on the job learning through financing apprenticeships, job intermediation, vouchers for workplace experience, and other interventions to link learners to jobs. We are increasingly brokering partnerships between the education system and private sector employers. Please visit our Education Sector's website: www.worldbank.org/... and new work on skills development
www.worldbank.org/...
Expert: Wendy Cunningham
I am wondering what the WB's thoughts are re. the linking of human capital improvement with economic diversification. I believe that we need to upscale developing countries' economic activities and thereby create new employment opportunities in order to absorb all those workers who gain new skills. I would be interested to hear your views. Thank you!
Anna Wolkenhauer
Ensuring skills development, not only through formal schooling but also as prime-age adults will be imperative to ensuring the workforce remains competitive to adapt to a changing world. Reskilling and upskilling through adult-learning and on-the-job training can equip today's workforce for the transitions to greener jobs and jobs that can adapt to technology. Ensuring that youth have the foundational skills can help foster problem-solving skills to innovate and adapt to changing jobs in the future. The World Bank works with Government and the private sector to help the current and future workforce acquire the skills they need to not only adapt, but to be at the forefront of innovation and job growth.
Expert: Wendy Cunningham
Can you give or offer loan to individual and so as one can educate his children,and for the extremely poor start a business, without checking Bank account balance.Because a poor person cannot save!
Beatrice Odek
The World Bank is a vital source of financial and technical assistance to developing countries around the world. We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. To learn more about how the World Bank works, you can watch this short video: twitter.com/...
Moderator: Erick Rabemananoro
In my country Botswana we have NGOs that teach young people about on how to be employable, but the job demands are way higher than the supply. Is the solution as simple as turning the unemployed into entrepreneurs or there is a system/policy problem that needs to be changed within the leadership of the nation?
Karabo Kopelo
The jobs shortage is a challenge in developing countries across the world. While supporting entrepreneurship is one strategy, it must be accompanied by policies and investments to create the conditions for large firms to start-up and hire workers, foreign firms can invest in developing country economies, and firms can be more productive, innovate, export, and create jobs and wealth.
Expert: Wendy Cunningham
For a country like Uganda, with almost 70% unemployed, currently most of these youths have resorted into moving to Asian countries in search for jobs, how can these youths be helped in a Ugandan economy with no job opportunities by the world bank programs in the upholding youth programs
BONGOLE RAMATHAN
Jobs are the beginning strategy to tackle poverty. A strong foundational education and job-relevant skills are a necessary first step. Job search services connect job-seekers to jobs that match their talents. In economies with few jobs, programs across the world support youth through a combination of cash grants, training, and mentorship to begin their own enterprises and raise earning. Please visit our website: www.peiglobal.org/ and www.s4ye.org/
Expert: Wendy Cunningham
What incentives can be employed by governments in Africa to attract the best in the teaching profession as a way of delivering quality education with its attendant positive outcomes? Without quality teachers, we can not talk of quality human resource.
Elvis Simon Wamuziri
We agree that quality teachers are the key to overcoming learning poverty and preparing today's children and youth to be tomorrow's workers. The World Bank's education team works with country governments to support teacher professional development, design incentive mechanisms and improve managerial practices in the education sector. Please see the link for strategies to support teachers: www.worldbank.org/...
Expert: Wendy Cunningham
What could be done to help youths unemployment rate in sub-sharan africa
Haruna Sinyang
Youth employment in sub-Saharan Africa is challenge. A strong foundational education and job-relevant skills are a necessary first step. Job search services can be enhanced through partnerships with the private sector to connect job-seekers to jobs that match their talents. In economies with few jobs, programs across the world support youth through a combination of cash grants, training, and mentorship to begin their own enterprises and raise earning. Please visit our website: www.peiglobal.org/ and www.s4ye.org/
Expert: Wendy Cunningham
Hello ...my name is Liza from kenya. My question is on the issue if empowering women. In this present days women have proved to be very hard working and take up a lot of family responsibilities. How can they be helped as entrepreneurs due ro lack of capital as well as knowledge as well as skill?. Where is the guideline.?
Liza kim
Gender empowerment plays a critical role in economic growth in many countries. Govenrment programs can help to remove barriers to women's meaningful engagement in the labor fore. The World Bank is working with client governments to support programs to change social norms of decision-makers, which has resulted in a sharing of domestic work and caregiving responsibilities across the household. Other programs aim to support women build enterprises through access to finance, skills training, networking and mentorship. Please see the World Bank's website on Gender for more information on how the World Bank is supporting governments to improve gender empowerment : www.worldbank.org/... and www.ifc.org/...
Expert: Wendy Cunningham
How is the world intervening on Grant for medium and small scale businesses to help cushion the effect of unemployment
Onome Favour
The World Bank works with governments to support good policies and regulations that facilitate SMEs to operate and grow. In many countries, SMEs are the main drivers of job creation. Entrepreneurs - including micro-entrepreneurs - play an important role in innovating and delivering local solutions. Encouraging entrepreneurship requires a multi-dimensional approach, and may include training programs (business, financial or soft skills), mentorship, innovation hubs, accelerator programs, and networks, designed to meet the needs of entrepreneurs at different stages, from start-ups to established SMEs.
Expert: Elizabeth Ruppert Bulmer
Thank you for joining our event. Remember you can send your questions through the live chat on this page. You can submit your questions in English, French, Spanish or Arabic. Our experts will answer your questions in real-time in this chat.
Moderator: Erick Rabemananoro
Structural disparities in access to health care still persist in sub Saharan Africa what is the world bank's role in the spring?
Abdulbashir Sheriff
Healthcare is a crucial aspect of human capital development. Not only does it protect existing human capital from being eroded but economic growth requires a healthy and productive workforce. We are working with governments across regions to increase access to quality healthcare and develop systems that are resilient to shocks or disruptions. We are also working with governments to ensure that vulnerable groups have access to health insurance across a number of countries. Please see our website on our work on universal health coverage for more information: www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
How can the eligible youths who are Keen to better their lives get trained and possibly lay hands on kits to Kick-start a new life.
Eze Chinenye Lydia
We agree that learning job-relevant skills is critical to live a better life. More than 100 countries are working with the World Bank to improve the quality of education and training programs. We also support on the job learning through financing apprenticeships and vouchers for workplace experience. Please visit our Education Sector's website: www.worldbank.org/...
Expert: Wendy Cunningham
With strong human capital - knowledge, skills, and good health - people can increase their productivity & income 3x.
Moderator: Erick Rabemananoro
What has not been done? and what can be done now to achieve desired results in human capital development? Why did formal approaches fail and have those failure factors been addressed? How will it not affect the approaches of today?
Nzubechukwu Martin Okpoko. GCPM
Governments try many strategies to promote human capital development, and not all are as effective as hoped, due to implementation challenges or design challenges, inter alia. A major focus of the World Bank is to assess existing policies and programs to what is not working effectively and why. We do this in every country where we work, and we also take a global perspective. This is the foundation of our engagement with governments. We also scrutinize the impact of previous World Bank projects, in order draw lessons and improve the design of future projects. Please see the work of the World Bank's Development Impact group: www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
Is the first investment needed not to eliminate learning poverty at the basic education level, as well as malnutrition that stunts intellectual development?
- Jean-François Tardif
Yes, in fact early childhood interventions (age 0 to 4) are proving to be extremely impactful to future learning and human capital outcomes. Learn more at: www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
Do we scrutinize the effectiveness of the current development policies and incentives that are on the ground in order to improve on challenges and bringing initiatives that help to improve such cases
Kondwani Chinyama
Yes. In fact, diagnostics are a major focus of the World Bank, including assessing existing policies and identifying the constraints that limit policy effectiveness. We do this in every country where we work, and we also take a global perspective. This is the foundation of our engagement with governments. We also scrutinize the impact of own projects, in order draw lessons and improve the design of future projects. Please see the work of the World Bank's Development Impact group: www.worldbank.org/...
Expert: Wendy Cunningham
Good morning, my question is that,how are you going to help countries which are facing a situation of so many school dropouts of girls and boys,due to so many reasons like pregnancy or cultural reasons? This is so common in Africa. Don't you think its high time that some students from disadvantaged families get assisted financially, and with transport. I think this can motivate them a bit,as most of them lack those, which in most cases hinder their success. This questions are inline with what you are going to disscuss.
ONE EMELDAH LEPODISI
Thank you for your question. We agree that youth face many barriers to jobs. There World Bank is working with several countries to provide support to particuarly disadvantage youth. For example, projects in Kenya, Uganda, Benin and Ghana provide financial resources, skills training, and business skills to youth. Please visit our website to learn more. www.worldbank.org/.... We have special programs, such as SWEDD in the Sahel, to help women who might be pregnant or face cultural barrier, to balance work and home responsibilities. SWEDD: projects.worldbank.org/...
Expert: Wendy Cunningham
How can governments in Africa deal with the issue of Early Childhood Education (ECE) as one way of improving on the quality of inputs in the education system?
Elvis Simon Wamuziri
Thank you for your question. Investing in the early years is one of the best investments that a country can make to help people develop their skills to be successful workers, parents, and community members. Quality ECE can be delivered in different ways in different contexts. Please see the World Bank's early childhood development webpage for some examples of effective ECE programs across the world: www.worldbank.org/...
Expert: Wendy Cunningham
There are many school drop out youths who are having nor continie with studies. Is there any grants or funds to give them independent living skills training with granted employment?
Sonam Deki
The World Bank is a vital source of financial and technical assistance to developing countries around the world. We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. To learn more about how the World Bank works, you can watch this short video: twitter.com/...
Moderator: Erick Rabemananoro
Entrepreneurship to be achieved it needs financial as well as human capital, as world bank what are your strategies to support this entrepreneurship?
willard kuthindi
Thank you for your question. The World Bank is engaging with countries through multi-dimensional approaches to help build human capital and unlock the potential of aspiring entrepreneurs. This includes early investments in childhood on foundational skills such as literacy and numeracy skills . Later investments in youth and prime-aged adults to keep pace with changing markets and technology. This might be through short-term courses in managment, enterpreneurial skills, financial management, digital technology, and socio-behavioral skills to help aspiring entrepreneurs build their business. Mentorship, networking, and innovation hubs also support current entrepreneurs to further build their businesses.
Expert: Wendy Cunningham
What role does education and skills development play in the context of this project, and how are they linked to job opportunities and economic growth?
Saba Naz
We agree that education and skills are crucial inputs to good jobs. Skills development programs supported by the World Bank increasingly include job-search, apprenticeship, job intermediation, and other interventions to link learners to jobs. We are increasingly brokering partnerships between the education system and private sector employers. This is a new agenda, that is growing quickly in collaboration with partners (www.worldbank.org/...)
Expert: Wendy Cunningham
When you talk of investing in human Capital and I relate it to entrepreneurship here in developing countries, it seems to be a dream. You can be equipped with relevant knowledge but systems that could have boosted the spirit are down, how do you overcome it? Thank you
MUHWEZI JONATH
We agree that entrepreneurship is more than a dream or knowledge. Thus, the World Bank works with government to build out enterpreneurship programs to strengthen self-esteem, problem-solving, and other socio-emotional skills. Mentoring and coaching programs allow experienced enterpreneurs to help the new ones. Governments are working to simplify legislation to make it easier to start a small business.
Expert: Wendy Cunningham
How does the World Bank collaborate with governments and other stakeholders to design and implement strategies for investing in human capital?
Saba Naz
The World Bank works with Ministers of Finance alongside Ministers of Education, Health, Labor, Social Protection and several others to implement strategies for investing in human capital. However, developing human capital requires a “Whole-of-Society” approach. This means that it requires a coordinated approach across ministries, non-governmental organizations, civil society and the private sector to help invest, build and use human capital effectively for shared prosperity. For further information, please see our website: The Human Capital Project www.worldbank.org/en/publication/human-capital
Expert: Wendy Cunningham
Can you highlight any innovative approaches or best practices that have emerged from this project in the field of job creation and human capital development?
Saba Naz
The World Bank is proud of our partnerships that provide wrap-around services to help the most vulnerable job-seekers create their own enterprises. Through a combination of grants, skills development, coaching, market research, and the sheer will of our clients, nearly 5 million people - many of who are women - have launched their own micro-enterprises and improved their own lives and those of their families. Please see our link: www.peiglobal.org/
Expert: Wendy Cunningham
Can you share insights into the World Bank's role in advancing women's leadership, empowerment and decision making in political and economic spheres
Elizabeth Mboya
Gender empowerment plays a critical role in economic growth in many countries. Please see the World Bank's website on Gender for more information on how the World Bank is supporting governments to improve gender empowerment : www.worldbank.org/... and www.ifc.org/...
Expert: Wendy Cunningham
What is the World's Bank strategy for promoting education and healthcare access in low-income countries
Elizabeth Mboya
Education and healthcare are crucial aspects of human capital development. More than 100 countries are working with the World Bank to improve the quality of education and training programs. Please visit our Education Sector's website: www.worldbank.org/... Access to healthcare not only protects existing human capital from being eroded, but economic growth requires a healthy and productive workforce. We are working with governements across regions to increase access to quailty healthcare and develop systems that are resilient to shocks or disruptions. We are also working with governments to ensure that vulnerable groups have access to health insurance across a number of countries. Please see our website on our work on universal health coverage for more information: www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
What are the proper strategies a youth can undertake inorder to tackle poverty which has been a severe problem in developing countries
Angelina Kabonaki
Jobs are part of a strategy to tackle poverty. A strong foundational education and job-relevant skills are a necessary first step. Job search services connect job-seekers to jobs that match their talents. In economies with few jobs, programs across the world support youth through a combination of cash grants, training, and mentorship to begin their own enterprises and raise earning. Please visit our website: www.peiglobal.org/
Expert: Wendy Cunningham
Education, Job Training and Skills are key to future workers. What are arrangements for Emerging jobs especially in Greening the planet and Climate change?
Mr. Mohamed Omar Msekeni
The World Bank is committed to helping our clients to transition to a livable planet. Our last Human Capital talk explored this issue, pointing out that climate change will affect human capital development while a population with strong human capital can slow-down climate change. Please visit our website: www.worldbank.org/...
Expert: Wendy Cunningham
What international collaborations and partnerships are needed to support developing countries in their efforts to invest in human capital and create a more prosperou future for their citizens?
Anonymous
Thank you for your question. Partnerships between the international development community, the private sector and country governments are driving human capital investments and better job creation. For example, Africa’s Partnership for Skills in Applied Sciences, Engineering and Technology (PASET), is a regional platform that builds and shares knowledge across 15 African research institutes and academia, as well as the business community. Its support to highly skilled scientists, professionals and innovators is creating transformative technologies and new businesses in Africa.
Expert: Wendy Cunningham
Gender equality is essential for inclusive human capital development. How can we promote gender equality in the workforce, particularly in regions with traditional gender disparities?
Anonymous
Thank you for your question. Gender inequality contributes significantly to the productivity gap, constraining economic growth in many countries, as women are left behind in education and participating in the labor force. Removing barriers to women's meaningful engagement in the labor force requires programs to change social norms of decision-makers, for greater sharing of domestic work and caregiving responsibilities across the household. Programs can ensure safe transport to work places, flexible working arrangements and hours, and specific skills training to women to boost confidence and agency. Supporting fair legislation and enforcement of women’s legal rights, such as non-discriminatory recruitment practices, access to property and the right to work in a safe environment makes work hospitable to women. Equal access to inputs - such as land, access to finance, and education - levels the playing field so that women can maximize their productivity and earnings.
Expert: Wendy Cunningham
With the rapid advancement of technology, how can developing countries ensure that their workforce remains competitive in the global economy?
Anonymous
"Developing countries can take several measures to ensure that their workforce remains competitive:
1. Invest in basic education as these fundamental skills are the base for managing technology . Promote STEM education, digital literacy, and vocational training programs that align with the demands of emerging industries, especially for women, who are often left behind.
2. Foster innovation and entrepreneurship to create new industries and job opportunities. This includes financing and one-stop shops to faciliate startups, establish incubation centers, and facilitate access to financing and mentorship for aspiring entrepreneurs.
3. Enhance digital infrastructure so it is widely accessible and affordable via broadband internet and mobile connectivity andexpanding and improving digital infrastructure.
4. Promote Public-Private Partnerships: Collaboration between the public and private sectors is essential for driving technological advancements and creating job opportunities. Governments can establish partnerships with technology companies and industry associations to foster innovation, provide training programs, and support the development of digital ecosystems.
5. Support Lifelong Learning: Continuous learning and upskilling are essential in a rapidly changing technological landscape. Developing countries should promote a culture of lifelong learning by providing opportunities for reskilling and upskilling programs, both in formal education settings and through online platforms.
6. Address the Digital Divide: Bridging the digital divide is crucial to ensure equal access to technology and opportunities. Developing countries should implement policies and initiatives to increase digital inclusion, such as providing affordable devices, improving internet connectivity in rural areas, and promoting digital literacy programs for marginalized communities.
7. Strengthen Social Protection Systems: As technology disrupts traditional job markets, developing countries should strengthen their social protection systems to provide a safety net for workers. This can include unemployment benefits, income support programs, and retraining assistance to help workers transition to new industries and occupations.
8. Foster International Collaboration: Developing countries can benefit from international collaboration and knowledge sharing. Engaging in partnerships with other countries, international organizations, and global initiatives can provide access to expertise, resources, and best practices in technology adoption and workforce development.
By implementing these strategies, developing countries can position their workforce to adapt to technological advancements, seize new opportunities, and remain competitive in the global economy. It requires a comprehensive approach that combines investments in education, infrastructure, innovation, and social protection to create an enabling environment for inclusive and sustainable growth."
Expert: Wendy Cunningham
What strategies can be implemented to encourage entrepreneurship and foster a culture of innovation in these regions, ultimately leading to more job opportunities?
Anonymous
Job creation is challenging. Governments across the world are developing new strategies to stimulate job creation. For the most disadvantaged groups, so-called economic inclusion programs provide a package of support that includes training, mentorship, small grants, and access to markets (www.peiglobal.org/). Programs to support entrepreneurial development for small and medium firms often include large grants, business mentoring, and on-the-job learning. Ministries of Finance and Planning are adapting legislation to encourage competition, foreign investment, and a healthy business environment.
Expert: Wendy Cunningham
Access to healthcare is a crucial aspect of human capital development. What policies and practices have proven effective in enhancing healthcare accessibility in developing nations?
Anonymous
We agree that healthcare is a crucial aspect of human capital development. Not only does it protect existing human capital from being eroded but economic growth requires a healthy and productive workforce. We are working with governements across regions to increase access to quailty healthcare and develop systems that are resilient to shocks or disruptions. We are also working with governments to ensure that vulnerable groups have access to health insurance across a number of countries. Please see our website on our work on universal health coverage for more information: www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
Could you share examples of successful initiatives that have effectively improved the quality of jobs in developing countries? What lessons can we learn from these examples?
Anonymous
The World Bank is proud of our partnerships that provide wrap-around services to help the most vulnerable job-seekers create their own enterprises. Through a combination of grants, skills development, coaching, market research, and the sheer will of our clients, nearly 5 million people - many of who are women - have launched their own micro-enterprises and improved their own lives and those of their families. Please see our link: www.peiglobal.org/
Expert: Elizabeth Ruppert Bulmer
What role can education and skills development play in equipping the workforce for the jobs of today and the future, especially in the context of technological transformation and climate change?
Anonymous
Reskilling and upskilling through adult-learning and on-the-job training can equip today's workforce for the transitions to greener jobs and jobs that can adapt to technology. Ensuring that youth have the foundational skills can help foster problem-solving skills to innovate and adapt to changing jobs in the future. The World Bank works with Government and the private sector to help the current and future workforce acquire the skills they need to not only adapt, but to be at the forefront of innovation and job growth.
Expert: Wendy Cunningham
How can countries balance the goal of creating more jobs with the imperative to ensure these jobs provide financial and job security for workers?
Anonymous
This is a challenging trade-off that policymakers need to consider when setting labor and other policies. The risk of setting labor rules that are very strict (e.g., a too-high minimum wage or other tight regulations) may reduce the number of jobs created by firms, or may push firms to operate informally, which results in fewer jobs and no job security or social protection for those working informally. One way to reduce this trade-off is through providing universal access to social protection, financed by general tax revenue rather than by a tax on labor. This would provide a degree of security to all workers and reduce the incentive for firms to operate informally.
Expert: Elizabeth Ruppert Bulmer
In light of the need to generate millions of jobs in developing countries, what are some innovative strategies that governments and organizations can adopt to stimulate job creation?
Anonymous
Job creation is challenging. Governments across the world are developing new strategies to stimulate job creation. For the most disadvantaged groups, so-called economic inclusion programs provide a package of support that includes training, mentorship, small grants, and access to markets (www.peiglobal.org/). Programs to support entrepreneurial development for small and medium firms often include large grants, business mentoring, and on-the-job learning. Ministries of Finance and Planning are adapting legislation to encourage competition, foreign investment, and a healthy business environment.
Expert: Wendy Cunningham
What is the best education system for developing human capital in developing countries especially in Africa in order to alleviate lack of employment and poverty increasing tremendously?
Salimu Omari King'oso
Developing countries can take several measures to ensure that their workforce remains competitive: Invest in basic education as these fundamental skills are the base for managing technology. Promote STEM education, digital literacy, and vocational training programs and softskills that encourage problem solving and innovation, curricula that align with the demands of emerging industries. Continuous learning and upskilling are essential in a rapidly changing technological landscape. Developing countries should promote a culture of lifelong learning by providing opportunities for reskilling and upskilling programs, both in formal education settings and through online platforms. By implementing these strategies, developing countries can position their workforce to adapt to technological advancements, seize new opportunities, and remain competitive in the global economy. It requires a comprehensive approach that combines investments in education, infrastructure, innovation, and social protection to create an enabling environment for inclusive and sustainable growth. Learn more at: blogs.worldbank.org/education
Expert: Elizabeth Ruppert Bulmer
What can the best way of empowering the youth in rural and remote areas?
Mackson Munsaka
Job creation is challenging, especially in rural areas. Some government programs focus on rural and/or disadvantaged groups , so-called economic inclusion programs provide a package of support that includes training, mentorship, small grants, and access to markets (www.peiglobal.org/). Other programs to support entrepreneurs and start-ups, some focused on youth, often include digital skills training through instructional videos or simple-to-use applications, financial management training, and connecting to mentors and networking opportunities.
Expert: Elizabeth Ruppert Bulmer
How can we create jobs to meet the demands of the youth and yet remain climate resilience and AI innovative?
Dickson Onen Ocoko
Ensuring skills development, not only through formal schooling but also for out of school youth will be imperative to ensuring the workforce remains competitive to adapt to a changing world. Youth continue to need foundational reading and writing skills as well as technical skills. but they will also need skills to innovate, adapt, and learn as climate change and AI innovations shape labor markets. They need digital skills to utilize technologies in their jobs and firms. And they will use entrepreneurial skills to innovate and creat new firms and jobs as markets change. This broad range of skill development needs to begin in formal schooling, but continue into the worklife through adult-learning and on-the-job training.
Expert: Wendy Cunningham
How does the World Bank support small and medium size business that are being affected by intense economic meltdown in Africa
Mohammed Kofi Boah Ussif
The World Bank works with governments to support good policies and regulations that faciliate SMEs to operate and grow and be resilient to shocks. In many countries, SMEs are the main drivers of job creation. Encouraging entrepreneurship and SMEs requires a multi-dimensional approach, and may include training programs (business, financial or soft skills), mentorship, innovation hubs, accelerator programs, networks, and targeted financial services including insurance instruments and access to credit. See www.ifc.org/...
Expert: Elizabeth Ruppert Bulmer
With advanced technologies don't we see human resources capital being compromised as this may call for more human resources capital being reduced, such that more people are likely to lose their jobs , since technologies should have taken over with few individuals to take control?
Job Chatseka
Human resources can be a complement to, rather than replaced by, technologies. But this is only the case if people have the necessary human capital. This requires (i) a strong foundational education so that workers can read, do math, and manage technologies, (ii) digital literacy so that people can use technology for their own benefit, such as mobile money or AI apps, and (iii) innovation and entrepreneurship to both create new ways of leveraging capital to develop new jobs and to create new technologies to enhance human capabilities. That said, there may be a transition period where technology may replace humans, calling for social assistance to support people who adapt to a human capital rich, technology enhanced future.
Expert: Wendy Cunningham
What are the major hindrances to universal basic income? I ask this because there are dimensions of poverty and unemployment that gets locked in and can't make the statistics.
Joseph Egwabor
Providing universal basic income is challenging not only in developing countries, but also developed countries. Governments have limited fiscal space in the face of a multiple spending priorities and development challenges. Universal basic income is costly, and requires countries to generate enough tax revenue to provide for their entire population. This is difficult in countries with a narrow tax base, either because a large segment of their population is out of the workforce, or much of the labor force works informally. We agree that providing social protection in the form of health insurance, unemployment benefits or safety nets such as cash transfers, can be an important instruments to protect vulnerable groups from shocks and reduce the risk of uncertainty, allowing people to invest and use their human capital in more productive ways such as enterpreneurship or skills training. Please see the following websites for more information: www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
As a student pursuing a degree in Human Resources Management, I'm interested in understanding the essential skills and competencies that individuals must cultivate to maintain a competitive edge in the job market during a period marked by heightened investments in human capital.
-Kawtar Boudalal
In-Person Audience
While fundamental skills acquired in primary and secondary skills - reading, writing maths - are still critical for success in the labor market, jobs increasingly require mastery of other skills: digital skills, social skills, self-efficacy, innovation and entrepreneurial skills, and the ability to learn as new technologies and ideas shape future jobs.
Expert: Wendy Cunningham
Less than a quarter of entrepreneurs today are women. Let's get to equal.
Moderator: Erick Rabemananoro
Well said. Amal Hassan
Nzubechukwu Martin Okpoko. GCPM
In a world of growing uncertainty in climate what are the measures to be taken with keen interest that will at the end of execution lead to the benefit of man and the environment as a whole? Let’s say a win win approach to human and environmental development
Samba Louis
The World Bank is committed to helping countries transition to more sustainable economies on a livable planet. The World Bank prepares Climate Change and Development Reports for each country, assessing climate impacts and identifying priority climate actions. And our last Human Capital talk explored the impact of climate change on human capital development, arguing that a population with strong human capital can slow-down climate change. Please visit our website: www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
Interested in learning more firsthand from our experts about our work on jobs? Visit: www.worldbank.org/...
Moderator: Erick Rabemananoro
What can be done to bridge the gap between the market needs and what being offered in training institutions
Thomas Yebei
We agree that learning job-relevant skills is critical to live a better life. Partnerships between education and training programs and employers can bridge that gap. This is being done through publicly financed apprenticeships, job intermediation to better match job-seekers to the jobs that align with their talents, vouchers for workplace learning, and other interventions to link learners to jobs. The World Bank is working with client governments to broker partnerships between the education system and private sector employers. Please visit our Education Sector's website: www.worldbank.org/... and the International Finance Corporation's education website: www.ifc.org/...
Expert: Wendy Cunningham
We need to invest in vocational training so that can provide a pipeline of skilled force on practical skills that encourages entrepreneurship
Malusi Vatsha
Are there avenues created for grant support systems to cushion young entrepreneurs and start-ups to improve and upscale their businesses
Samba Louis
The World Bank is working with governments in several countries to offer programs to promote youth entrepreneurship, including some targeting disadvantaged youth. For example, projects in Kenya, Uganda, Benin and Ghana provide financial resources, skills training, and business skills to youth. And you may be interested to learn about solutions for Youth Employment with S4YE, a global program that brings together donors, governments, foundations, private sector companies, NGOs and youth to support catalytic programs to increase the number of young people engaged in productive work: www.s4ye.org/ Other sites where you can learn more: www.worldbank.org/... www.peiglobal.org/
Expert: Elizabeth Ruppert Bulmer
Remember you can send your questions through the live chat on this page. You can submit your questions in English, French, Spanish or Arabic. Our experts will answer your questions in real-time in this chat.
Moderator: Erick Rabemananoro
Learn more about solutions for Youth Employment with S4YE. This is a global program that brings together donors, governments, foundations, private sector companies, NGOs and youth to support catalytic programs to increase the number of young people engaged in productive work: www.s4ye.org/
Moderator: Erick Rabemananoro
It is known that vocational education and education in applied sciences cost a lot of money, which makes developing countries refrain from it and replace it with academic education. Therefore, the question is about the ability of international financial institutions to provide sufficient support and funding for this, and is it possible to create support platforms that can deal with local communities directly?
Ahmed Alamin Gassouma
Technical skills and STEM (science, technology, engineering and mathematics) are needed in all jobs and will be increasingly valued as jobs adopt new technologies. In addition to supporting leaning through formal TVET programs, other learning models are being developed. For example, partnerships between education and training programs and employers can provide on the job training in new technologies. This is being done through publicly financed apprenticeships, job intermediation to better match job-seekers to the jobs that align with their talents, vouchers for workplace learning, and other interventions to link learners to jobs. The World Bank is working with client governments to broker partnerships between the education system and private sector employers. Please visit our Education Sector's website: www.worldbank.org/en/topic/education and and the International Finance Corporation's education website www.ifc.org...
Expert: Wendy Cunningham
What are the key challenges and opportunities in addressing the employment needs of developing countries, particularly in Africa and South Asia ?
Alper İhtiyar
Addressing unemployment and inadequate job creation requires a multi-faceted approach. Governments can play a crucial role in implementing policies and strategies to promote job creation by both small and large firms, and by entrepreneurs. This includes investing in infrastructure, fostering an enabling business environment, promoting entrepreneurship training and finance, improving education and skills training programs, and implementing labor market reforms. Specific causes and solutions for unemployment may vary across countries and regions, and a comprehensive understanding of the local context is necessary to develop effective strategies. International organizations like the World Bank can support countries in addressing unemployment by providing financial assistance, technical expertise, and policy advice. They can also facilitate knowledge sharing and promote best practices in policy design to promote employment creation. You can learn more about jobs challenges and diagnostics at www.worldbank.org/... And for information on Solutions for Youth Employment (S4YE), please visit www.s4ye.org/
Expert: Elizabeth Ruppert Bulmer
The Human Capital Project (HCP) is a global effort to accelerate more and better investments in people for greater equity and economic growth. Learn more here:
www.worldbank.org/humancapital
Moderator: Erick Rabemananoro
How can the private sector, public sector, and non-profit organizations work together to maximize the impact of human capital investments on job creation?
-ALMOUTAQI
Thank you for your question. Partnerships between the international development community, the private sector and country governments are driving human capital investments and better job creation. For example, Africa’s Partnership for Skills in Applied Sciences, Engineering and Technology (PASET), is a regional platform that builds and shares knowledge across 15 African research institutes and academia, as well as the business community. Its support to highly skilled scientists, professionals and innovators is creating transformative technologies and new businesses in Africa.
Expert: Wendy Cunningham
Mamta Murthi concludes by providing views on how to take this momentum forward to deliver more jobs by investing in people.
Moderator: Erick Rabemananoro
How can I participate in World Bank meetings and benefit from their programs?
Edilson Yano
We encourage you to follow this website to learn about upcoming and past meetings available online. You can also subscribe to receive updates about upcoming events live.worldbank.org/...
Moderator: Erick Rabemananoro
For young people and human resources in general, what is expected in terms of awareness of the need for continuous development of their skills and qualifications? How can we engage them?
- Fatima-Zahra AZIZ
Ensuring skills development, not only through formal schooling but also as prime-age adults will be imperative to ensuring the workforce remains competitive to adapt to a changing world. Ensuring that youth have the foundational skills can help foster problem-solving skills to innovate and adapt to changing jobs in the future. Reskilling and upskilling through adult-learning and on-the-job training can equip today's workforce for the transitions to greener jobs and jobs that can adapt to technology. Incentivizing the private sector - through financing or tax policies - to upskill their work force brings new learning to the working population.
Expert: Wendy Cunningham
Why world bank does not invest into the private companies?
Evariste
Feel free to explore the International Finance Corporation (IFC) website to learn about how we work with the private sector in developing countries to create opportunities for all. www.ifc.org/en/home
Moderator: Erick Rabemananoro
Now, more than ever as we see war snd the impacts on Human health respecting the human capital of our world, how will the World Bank support lives of those disabled or their families in the realm of Jobs in order that all people can be included in our global economy?
Laura L Dawson
Thank you for drawing attention to this challenge. The World Bank works with governments to strengthen their social protection systems to reach needy populations including those with disabilities or who otherwise struggle to access work. Some social protection measures include job training and support for finding work. Another target is for governments to provide universal health care. The World Bank is aiming to ensure that 75% of its social protection projects are disability-inclusive by 2025. Some websites where you can find more information: www.worldbank.org/..., www.worldbank.org/... www.worldbank.org/...
Expert: Elizabeth Ruppert Bulmer
How can we help less privileged woman and girls in sub Sahara Africa
Julius Ben During
You may be interested to visit the following links that are valuable resources on that topic:
- The Gender website projects.worldbank.org/...
- The Sahel Women’s Empowerment and Demographics Project www.worldbank.org/...
Moderator: Erick Rabemananoro
Since when has the World Bank been investing in poverty reduction in Africa? What is the result obtained? Has poverty fallen or increased? Why? in both cases.
Kiebo Mwanza Floribert
The World Bank Group is committed to delivering results for developing countries and improving life for the poorest and most vulnerable. To access more in-depth information, visit the website www.worldbank.org/...
Moderator: Erick Rabemananoro
What are some of the incentives for youths empowerment and education
Nyenpu Johnson
You can learn more on that topic by visiting this website. Solutions for Youth Employment (S4YE) is a global program that brings together donors, governments, foundations, private sector companies, NGOs and youth to support catalytic programs to increase the number of young people engaged in productive work: www.s4ye.org/
Moderator: Erick Rabemananoro
Illiteracy rate has been a major problem in some of Africa,how can you help to reduce the level of illiteracy rate?
John Bendu
Today, in low-and middle-income countries 53 percent of children in late primary cannot read and understand a simple story. By 2030, we want to reduce, by at least half, the share of children who cannot read and understand a simple story by age 10. To help countries respond to the global crisis and meet the new literacy target, the World Bank has developed:
- Literacy Policy Package consisting of interventions focused specifically on promoting acquisition of reading proficiency in primary school,
- Renewed Education Approach to strengthen entire education systems so that literacy improvements can be sustained and scaled up and all other education outcomes can be achieved,
- Learning Assessment Platform to eliminate the measurement gap—covering measurement of both learning outcomes and their drivers,
- Research and Innovation on how to build foundational skills.
To delve deeper into this topic, we encourage you to browse the website
- www.worldbank.org/...
- www.ifc.org/...
Moderator: Erick Rabemananoro
Isaac from Kenya. Is World Bank keen on working with governments to revise and restructure teaching curriculums right from elementary to high school to tertiary with emphasis on early adoption of wealth creation, financial literacy and entrepreneural knowledge and skills?
Isaac Wafula
Yes, the World Bank recognizes that preparing a productive and competitive workforce starts in school (and even before), by providing the foundation and skills to unlock the potential of future innovators and entrepreneurs. This requires investments in foundational literacy and numeracy skills, problem-solving and other soft skills, digital and business skills, and awareness of sustainability and climate challenges. To learn more, visit:
blogs.worldbank.org/education
Expert: Elizabeth Ruppert Bulmer
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