According to the World Economic Forum on Africa: “Feedback from business leaders confirms that they are already struggling to find the skills they need, and not just in Africa. In PwC’s 22nd Annual Global CEO Survey, released in January 2019, no less than 79% of global CEOs said they were concerned about the availability of key skills. Among African business leaders, this figure jumped to 87%, with 45% noting that they were “extremely concerned”.
“The current lack of skills is having real consequences. Of the CEOs who were extremely concerned about the availability of key skills, 65% of African CEOs (global: 55%) said the skills shortage was preventing them from innovating effectively, while 59% (global: 47%) conceded that their quality standards and customer experience were being undermined. In addition, 54% (global: 44%) confirmed that they were missing their growth targets because of inadequate skills.”
“Only 3% of African CEOs (global: 4%) we surveyed said skills availability was not impacting on their organisations’ growth and profitability”.
“The message business leaders are sending is clear. We need to act Now. They also appear to be heeding their own advice, with 47% of African respondents (global: 46%) recognising significant retraining and upskilling as the most significant interventions needed to close skills gaps in their organisations. Twenty-two percent of CEOs in Africa (global: 17%) also identified establishing a strong pipeline of skills direct from educational institutions as an important step”.
“To make these initiatives pay off, organizations need to define their current and future workforce needs, taking into account the impact of emerging technologies across their value chain, from strategy to execution, and preparing their workers to be fit for purpose”.
“Businesses also need to adapt to remain sustainable, and the skills gap is a critical barrier to organizations successfully exploiting the promise of new technologies. Recent research suggests that the companies that are innovating the most are also ones that are growing and creating more jobs”.
World Economic Forum on Africa
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