African leaders from 43 countries have pledged to increasing investments in human capital development by signing the Dar es Salaam Declaration in early August. The aim is to accelerate economic growth and the quality of life for the African population by maximizing investment in skills development and economic opportunities.
According to the Declaration – facilitated by the World Bank and the government of Tanzania – people are Africa’s most important and valuable assets, and are key enablers of innovation, productivity, resilience and growth on the continent.
African leaders have committed to increasing investments in quality education and skills development, access to affordable and quality healthcare systems, women and girl’s empowerment and in job creation.
They also pledged to develop comprehensive social protection and inclusion programs, strengthening research and development initiatives to ensure scientific breakthroughs and boosting public and private sector partnerships.
Africa’s productivity potential has only reached 40% due to a low human capital index resulting from factors such as low access to critical health and education services, the COVID-19 pandemic, climate change and conflicts, according to the World Bank.