Youth empowerment key to growth, says commission

 Slow economic growth and population boom are fuelling youth unemployment in Malawi, with delegates to the ongoing African Population Conference in Lilongwe saying the development threatens to derail the counttry’s development aspirations.

In his remarks during the conference on Wednesday, National Planning Commission director general Thomas Chataghalala Munthali said the country’s economy is growing at a slower rate than envisioned in Malawi 2063 (MW2063), the country’s long-term development plan which seeks to turn the country into a lower middle income economy by 2030.

The MW2063 envisions the local economy growing by an average of six percent between 2021 and 2030, but so far the growth has averaged two percent in the past three years.

To catch up, the economy needs to grow by 10 percent between now and 2030, according to Munthali.

“At the centre of recovering, growing and protecting our economy lies an educated, skilful, healthy and productive population, basically the youth who form the demographic dividend,” he said.

Munthali said the productivity of the local labour force, currently at $2.37 (about K4 149) per hour in Malawi, is lower than the continent’s average of $10 (about K17 510) per hour, calling for more investment in skills development, particularly for the youth.

Speaking at the same event, a youth representative Foster Mafiala said the discrepancy between population and economic growth has affected the country’s youthful population more than any other demographic.

He said: “Most of the country’s poor people are the youth. Employment opportunities for our young people are few and far in between.

“If this is left unchecked, it will undermine efforts to eradicate poverty and inequality.”

To mitigate the challenges, Norwegian Ambassador Ingrid Mikelsen said government needs to provide financial support to create employment and entrepreneurship for youths to complement initiatives to promote skills development

“The Ministry of Finance and Economic Affairs can also lobby with the banks to create low-interest loans to help young people get into business and remain competitive,” she said.

Minister of Finance and Economic Affairs Simplex Chithyola-Banda said government is already connecting the local youths to National Economic Empowerment Fund.

The conference is held under the theme ‘Road to 2030: Leveraging Africa’s human capital to achieve transformation in a world of uncertainty’.