Home / Business / Africa economic report out

Africa economic report out

The United Nations Conference on Trade and Development (UNCTAD) last week launched the Economic Development in Africa Report 2018 titled: ‘Migration for Structural Transformation.’

The report is aimed at demystify issues surrounding migration in the world.Africa

The report was launched by Dr Robert Nantchouang of the Africa Capacity Building Foundation (ACBF) which produces the report on behalf of the UNCTAD.

Various myths about migration including that it lowers the wages in receiving countries were cleared.

Images of thousands of African youths from Africa drowning in the Mediterranean propelled by poverty or conflict at home and lured by the hope of jobs abroad have fed a misleading narrative that migration from Africa harms than helps the continent.

“The success of the Africa Continental Free Trade Agreement signed in Rwanda earlier this year with the aim of boosting intra-Africa trade will only be made possible by intra-Africa migration,” noted Doctor Nantchouang in the report.

Despite being accused of leading to brain drain in the country, Zimbabwe’s economy has largely benefited from remittances by diasporans with statistics from the Reserve Bank of Zimbabwe (RBZ) showing that close to $1 billion was repatriated into the country in 2017 alone.

Source :

zbc

Check Also

Zimbabwe: Water Shortages Hamper Bulawayo’s Coronavirus Fight

The Bulawayo City Council’s (BCC) capacity to curb the spread of the coronavirus is being …