Reporter
The African Economic Research Consortium (AERC) is holding its twenty fifth Senior Policy Seminar (SPS) from March 29-30 at the Radisson Blu Hotel in Nairobi, Kenya.
The event is led led by Hon. Eliud Owalo, Cabinet Secretary, Ministry of Information Communications & Digital Economy, Kenya.
The event will see a mix of policymakers, paper presenters, non-state, and private sector actors from Africa and beyond meet to discuss findings and policies for Africa.
Hon. Prof. Njuguna Ndung’u, Cabinet Secretary, National Treasury & Economic Planning, Kenya, will chair this session.
Guests listen to presentations at the AERC event at Radisson Blu Hotel, Nairobi. The event will run from March 29-30. Photo/Courtesy
The welcoming remarks will be by Prof. Théophile Azomahou, Ag. Executive Director, AERC, and Hon. Prof. Mthuli Ncube, Minister for Finance & Economic Development, Zimbabwe, will deliver the Keynote Address.
The conference will feature four presentations by thought leaders on the subject of human capital development.
We all know
“We all know that low investments in human capital impinges on growth rates of income. Such interrelations consequently imply a vicious circle of development. Poor countries have considerable discretion over how much to invest in education and health. Since independence, Africa has achieved a rapid growth of some aspects of human capital – particularly in the expansion of education – despite starting from a low level of income. The expansion of the human capital stock has not been matched by a commensurate rise in physical capital. The result has been low growth of incomes and low returns to the educational investment,” says Prof. Théophile Azomahou, Ag. Executive Director, AERC.
Hon. Eliud Owalo, Cabinet Secretary, Ministry of Information Communications & Digital Economy, Kenya with other guests at the AERC event. Photo/Courtesy
Leading researchers will also share their ideas with distinguished senior policy makers, including Prof. Lant Pritchett, Harvard University, USA titled “A Life Cycle, Economy-Wide Framework for Human Capital in Africa.”
Prof. Jere R. Behrman, Department of Economics, University of Pennsylvania, USA will present a paper on “Human Capital Investments and Economic Growth in Africa“.
Prof. Germano Mwabu, Department of Economics, University of Nairobi, Kenya will focus on “Human Capital Accumulation in Africa: Drivers, Consequences, and Way forward“.
The last paper
The last paper will be on”Education in Africa: Career Progressions, Gaps in Learning Outcomes and Responding to the Learning Crisis” by Prof. Adrienne Lucas & Dr. Gerald Ipapa, Lerner College of Business & Economics, University of Delaware, USA.
Human capital is critical for inclusive growth and shared prosperity in Africa.
Hon. Eliud Owalo, Cabinet Secretary, Ministry of Information Communications & Digital Economy, Kenya. Photo/Courtesy
Investment in human beings for improved social and economic outcomes in future – through education and training, learning and experience, or health interventions – is vital in shaping future income and productivity.
Developing human capital in Africa, therefore, requires a massive and coordinated effort to strengthen the quantity, efficiency, and impact of investments in people.
Action plans
There is need to facilitate regional and country-owned policy reforms, action plans and cross-country learning in four key areas namely: expanding effective government investment in social services; introducing reforms and innovation to improve service delivery; committing to equity and inclusiveness and addressing fertility and gender issues to harness a demographic dividend.
AERC senior policy seminars are forums designed specifically to bring together senior policy makers from sub-Saharan African countries to exchange experiences and deliberate on topical issues pertaining to sustainable development of their economies.
Participants in these seminars are drawn from the highest levels of government, including the presidency, ministers, governors of central banks, heads of civil services, permanent secretaries and heads of government agencies and parastatals.