However, some African countries are growing by more than 6 percent per annum and foreign direct investment inflow still increases.
I agree with the WEF that the different African economies call for all of us to address the accompanying challenges, such as a growing unemployed young population and climate change.
Zambia and Mozambique, two African countries that used to be a backstop for the continent, were hit especially hard by the dip in commodity prices. Foreign investors have left and many people in these countries are left with nothing. People in Mozambique were upskilled, but there is no work for them.
The upside is that Africa needs infrastructure worth at least $94 billion (R1.25 trillion) and if this is handled correctly, 70 percent of the people who are jobless can be helped, but there are some challenges that must be overcome. Legislation is a problem. In many cases withholding of work permits prevents skilled people from foreign countries working in African countries, which blocks skills transfer.