‘70% of workers in Nigeria, sub-Saharan Africa in vulnerable employment’

About 70 per cent of workers in sub-Saharan Africa, including Nigeria, are in vulnerable employment, compared to a global average of 46 per cent. A report, released by the World Economic Forum (WEF), indicated that unemployment and underemployment ranked in first place in sub-Saharan Africa as the top risk for doing business. The forum stated […]

About 70 per cent of workers in sub-Saharan Africa, including Nigeria, are in vulnerable employment, compared to a global average of 46 per cent.

A report, released by the World Economic Forum (WEF), indicated that unemployment and underemployment ranked in first place in sub-Saharan Africa as the top risk for doing business.

The forum stated in the recent report that 22 of the 34 economies surveyed cited it as the top risk for doing business in the region.

“In sub-Saharan Africa, countries face the profound challenge of creating sufficient jobs to meet the needs of the working-age population,” the report stated.

The forum predicted that the working age population of sub-Saharan Africa is expected to more than double to 1.6 billion by 2050 and that this must be matched with quality of employment.

It is the view of more than 12,000 business people across 140 economies, according to findings that the World Economic Forum published in the first edition of a new Regional Risks for Doing Business report that  unemployment and underemployment represent the biggest risk for doing business around the world.