The 2015 Economic Report on Africa by the United Nations Economic Commission for Africa (UNECA) put Tanzania’s unemployment rate at 10.3 percent. It also reported that the number of unemployed women in the country is higher than that of unemployed men.
But there are a number of ways in which we can boost job opportunities for youth in Tanzania.
For some time now, public procurement has accounted for a good 20%–25% of Zimbabwe’s annual budget, which currently stands at about US$4 billion. Guided by a law crafted in 1999, the country’s procurement system is centralized, causing bottlenecks and delays.
The remittances sent home every year by the African Diaspora should create a doorway to still greater opportunities, and the key to this door is financial access. While remittances do impact the living standards of beneficiaries directly, the banks that pay out the remittances month after month should offer recipient families a basic financial package including savings accounts, payment services and small loans for microenterprise. This should facilitate growth from current levels of remittances saved and invested. Leveraging of remittances through financial inclusion is certain to increase their development potential.