The World Bank has projected that Sub-Saharan Africa will become the world’s biggest source of new workers by 2050, with more than 620 million people expected to join the region’s working-age population.
The forecast was contained in the Bank’s latest regional economic outlook released on Monday. It highlights both the opportunities and challenges that come with Africa’s rapidly growing population.
According to the report, the region, which includes Nigeria and other countries south of the Sahara Desert, is projected to see its population rise from about 1.5 billion in 2024 to 2.5 billion by 2050.
This demographic surge means Sub-Saharan Africa will account for a significant share of the global increase in labour force over the next 25 years. The Bank noted that the region’s youth population will drive the expansion.
To keep pace with the growing workforce, the World Bank said Sub-Saharan African countries will need to create about 25 million jobs annually between now and 2050.
The Bank warned that failure to generate enough decent jobs could worsen unemployment, poverty and migration pressures across the region. It stressed that job creation must outpace population growth to reap the benefits of the demographic dividend.
In its recommendations, the World Bank urged African governments to invest heavily in infrastructure, skills development and private-sector growth. It said these are critical to preparing the workforce for future industries.
The report identified key sectors with high job-creation potential to include agriculture, healthcare, energy, tourism and manufacturing. It noted that value addition in agriculture and expansion of renewable energy could employ millions of youths.
“With the right policies, Sub-Saharan Africa can turn its population growth into economic prosperity,” the Bank stated. It added that improving education quality, expanding digital access and creating an enabling environment for businesses will be essential.
For Nigeria, Africa’s most populous nation, the projection means the country must urgently scale up job creation and human capital investment. Experts say aligning national development plans with the Bank’s recommendations could help absorb the millions of young Nigerians entering the job market yearly.
The World Bank concluded that with deliberate reforms, Sub-Saharan Africa has the potential to transform its large and youthful population into a major driver of global economic growth by mid-century.
