The low participation rates of women in the workforce in the Middle East and North Africa, lower than any other region in the world, has puzzled analysts for some time. A number of competing causes have been identified, ranging from Islam and geography to natural resource wealth and the character of MENA institutions. Yet what’s missing from the debate so far is an analysis of the microeconomic constraints limiting women from entering the workforce.
Did you ever want to know more about banking regulation and supervision in Middle East and North Africa? It has been possible, for some time now, to get a good sense of MENA's banking regulations and how they compare to other countries and regions in the world. This is thanks in large part to the World Bank’s global Banking Regulation and Supervisory Survey
The political transition in Egypt has gone through many phases, but the ability to deliver on the demand for bread, dignity, opportunity and social justice that epitomized the 2011 revolution will continue to stand as an arbiter of its ultimate success. This will be especially apparent in the distribution of economic opportunities and how they are shaped by public policies.
Although regional economic activity is expected to accelerate in 2012, growth is expected to retreat slightly in 2013. The single biggest risk to this forecast is prolonged political and policy uncertainty, which is a key constraint to private investment and trade, particularly trade in services, while political and social unrest are serious downside risks to the outlook.
After several months of planning and consultations with our partners, which started in May 2011, the Egypt Development Marketplace (DM) was launched on November 8, 2012. As part of the outreach strategy, the Egypt DM team organized a series of information sessions in four of Upper Egypt’s major cities; Asyut, Qena, Aswan and Minya. The sessions were co-organized and co-hosted with Egypt DM partners International Labor Organization, Social Fund for Development, Sawiris Foundation, and others.
Last Thursday I had dinner with my friend Youssef. He told me he was disappointed with the way things were turning out in his country. A young Tunisian educated at the Sorbonne, Youssef took leave from his cushy management consultant job to volunteer for the government after the revolution. Like Youssef many Tunisians feel disillusioned. I replied that now is the time to redouble the efforts.
Similar to their peers around the world, young Palestinians do equate schooling with the prospect of getting good jobs. But what is most striking is that education has become a source of self-worth and social recognition. In the words of one young man from Old City in Hebron, “When you have a degree you have your respect wherever you go.”
The other day I was in a car going to a meeting with Yemen’s Minister of Planning and International Cooperation. A car bomb exploded less than 500 meters from our location, targeting the Minister of Defense. The minister escaped but 12 people were killed and many more were injured. These are only some examples of events that we face in a fragile and conflict-affected state.
Over the next decade, the Middle East and North Africa faces the challenge of creating 40 million jobs for its youth with an estimated 10.7 million new entrants expected to join the labor force. With nearly one in five people between the ages of 15 and 24, the region has one of the youngest populations in the world. Therefore, the employment response must be well above average to employ the current and future jobseekers.
“We are not geniuses. We just use common sense.” For CEO and co-founder Ahmed Zahran of Karm Solar Egypt, a company that aims to commercialize solar technologies, it’s not about being a visionary. It is about good business. Ahmed and other young entrepreneurs and business leaders discussed the challenges and opportunities of doing business in the region.