West Africa is facing a worsening youth unemployment crisis, with rates soaring to 24.95%—a figure that places the region among the highest globally. This was disclosed during a session of the ECOWAS Parliament held in Monrovia, Liberia.
A Liberian representative in the Parliament highlighted the gravity of the situation while speaking at a delocalised meeting themed “Assessing the Effectiveness of the ECOWAS Investment Policy as a Panacea for Addressing the Rising Levels of Unemployment in the Sub-region.”
He noted that the youth unemployment rate in Africa stands at 30.43%, compared to the global average of just 5.8%, indicating a troubling disparity. He attributed the region’s high unemployment figures to a lack of an enabling environment for sustainable investment and inclusive growth.
According to him, although ECOWAS member states have adopted a harmonized Investment Policy aimed at promoting job creation and economic development, its impact has yet to be meaningfully felt. The policy is expected to stimulate domestic and foreign investment, enhance regional cooperation, and remove legal and regulatory barriers to doing business in the region.
He pointed out that the challenge is not a lack of potential. With a population exceeding 400 million and rich natural resources, the region has what it takes to drive growth and development. However, poor financial infrastructure, limited access to capital, inadequate workforce development, and low investor confidence continue to hinder progress.
He called for targeted investment in sectors such as agriculture, manufacturing, industry, services, and especially Small and Medium Enterprises (SMEs), which he described as the backbone of economic growth and employment across the region. He emphasized that despite existing strategies, economic growth has not translated into real job opportunities for West Africa’s youth, leading many to migrate illegally in search of better prospects.
He also stressed the importance of harmonizing investment laws across the region and accelerating the full integration of the ECOWAS Common Investment Code into national frameworks by 2030. This, he said, would improve the regional business climate and attract the type of investment needed to tackle youth unemployment.
The Joint Committee meeting, which brought together members focused on administration, finance, macroeconomic policy, public accounts, and the private sector, concluded with a strong call for deeper collaboration and urgent action to tackle unemployment through better policy implementation and regional alignment.
