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Private sector development and Korea-Africa development cooperation

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Frame of Image urasia
(hyunjupark@kiep.go.kr) (kimyj@kiep.go.kr) (parkyh@kiep.go.kr)
Why Private Sector Development (PSD)? Although Africa has witnessed outstanding
economic performance, poverty remains prevalent throughout the continent since growth has not been translated into job and income creation. Still trapped within the confines of a mono-cultural economy, Africa’s dependency on a limited inventory of primary goods, consequently leading to a shortage of added value and retreat into deindustrialization, hinders it from escaping the poverty trap. Unemployment is a deepseated issue as industries lack the capacity to assimilate the 15 million young people joining the job market every year. Youth unemployment in South Africa, one of the
most developed countries on the continent, exceeds 50 percent. 1 The sustained high level of youth unemployment triggers security risks. History is evidence of its association to political violence and civil unrest, driving youth to join rebel groups in some countries. Projected population growth rates indicate the need to involve youth in innovative and creative activities. Social problems also still loom large, as access to affordable and reliable energy, sanitation and social welfare remains limited.
Analyse Africa, http://www.analyseafrica.com (accessed January 11, 2016).
1
Private Sector Development and Korea-Africa Development Cooperation
2
Neither
have the Millennium Development Goals shown tangible outcomes on poverty reduction and economic growth


Full Text
Title Private sector development and Korea-Africa development cooperation
Similar Titles
Material Type Articles
Author(English)

Prak, Youngho et al.

Publisher

[Sejong]:Korea Institute for International Economic Policy

Date 2016-02
Journal Title; Vol./Issue World Economy Update:vol. 4(no. 4)
Pages 9
Subject Country Africa(Africa)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic System
Holding KIEP; KDI School