Since the Edelman company began tracking trust with its Trust Barometer, never has the world seen such an “implosion of trust.” In 2017, two-thirds of countries fell into “distruster” territory with trust levels of below 50 percent. Governments are now distrusted by investors in 75 percent of countries, and the same is the case for business in 46 percent.
During my years in college, the number of unemployed graduates in my city made me want to study harder, and seek the skills required in the workplace while I was still a student. Luckily, in my fourth year, I began volunteering for a local NGO. That volunteerism really scaled up my skills and later helped me get a fulltime job.
The general lack of vocational training and a still-nascent volunteerism culture remain the main reasons why the majority of Somali youth are unemployed. We can boost youth employment opportunities by not only building up their skills, but also by encouraging volunteerism as a pathway to employment.
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.
These are some of the views and reports relevant to our readers that caught our attention this week.
Want a Better, Safer World? Build a Finance Facility for Education
Stanford Social Innovation Review
The global education crisis can seem overwhelming. Today, there are 263 million children and young people throughout the world who are not in school, and 60 million of them live in dangerous emergencies. Fast forward to 2030, and our world could be one where more than half of all children—800 million out of 1.6 billion—will lack basic secondary-level skills. Almost all of them will live in low- and middle-income countries. What’s more, many of those children will never have the chance for an education at all; others who do attend school will drop out after only a few years. Their job prospects will be poor—their likelihood of becoming the entrepreneurs who will drive the next stage of global growth even more uncertain. This is a prediction of course—not a done deal by any means—and yet many low- and middle-income country leaders fear that this grim possibility will become their reality. They understand that lack of quality education will leave their countries unable to gain economic ground or improve the well-being of their citizens. And they realize that large numbers of young people—who should be a huge asset to their countries—can easily shift to the liability column and become sources of instability if they are deprived of their fundamental right to an education.
Business, Human Rights, and the Sustainable Development Goals
Business and Sustainable Development Commission.
Companies’ single greatest opportunity to contribute to human development lies in advancing respect for the human rights of workers and communities touched by their value chains, according to the new paper, Business, Human Rights, and the Sustainable Development Goals, authored by Shift and commissioned by the Business and Sustainable Development Commission. People around the world are affected by business activities every day, many very positively. Roughly 2 billion people are touched by the value chains of multinational companies. Yet these same people are exposed to the harms that can also result when their human rights are not respected by business, cutting them off from the benefits of development.
Ugandan’s access to financial services has improved dramatically in recent years. More than half of Uganda’s adult population now has access to an account at a formal financial institution. This is almost twice as many as in 2009. The entry and fast penetration of mobile money is the main reason for the increase, having allowed 8 million Ugandans to conduct financial transactions.
Global Internet Report 2016
Today we are at a defining moment in the evolution and growth of the Internet. Large-scale data breaches, uncertainties about the use of our data, cybercrime, surveillance and other online threats are eroding users’ trust and affecting how they use the Internet. Eroding trust is also affecting the way governments view the Internet, and, is shaping the policy environment for the Internet around the world. The 2016 Global Internet Report takes a close look at data breaches through an economic lens and provides five clear recommendations for a path forward.
What Does “Governance” Mean?
The normative goals of governance reform are twofold: more effective public policies, and procedures that are legitimate and accountable to the citizenry. Often the phrase “good governance” is intertwined with the anticorruption agenda. Drawing on the author's experience as a visiting researcher at the World Bank and as a scholar of both corruption and comparative politics, this essay unpacks the concept of governance and relates it to debates over ways to balance technical expertise and public participation to achieve better functioning governments.
Countries in which firms were surveyed for initial round of “Future of Business Survey”
The shared goal of this work is to help policymakers, researchers, and businesses to better understand business sentiment, and to leverage a digital platform to provide a unique source of information.
While Hillary Clinton is cracking the glass ceiling, if not yet shattering it entirely, in the United States by becoming the first female presidential nominee of a major political party, recent analysis on U.S. women in the workforce presents a more sobering finding.
Sunny skies and beautiful beaches come to mind when you think about the Caribbean. But beyond the turquoise water lies a history of underage marriage, a practice that still lingers throughout the region.
My Nani (the Hindi word for maternal grandmother), came from a low-income family from the island of Trinidad. Growing up, she worked on a sugar plantation with her siblings. But poverty and manual labor didn’t compare with what she experienced after her mother died.
When I speak about big data with government leaders in our client countries around the world, I often find that many have some awareness of big data, but for many, that's where the story ends. Most are not sure how it is going to affect them or what they should do. Most leaders are largely unaware that the impact of big data is likely to be broad and deep. What governments do (or fail to do) will likely shape up the competitiveness of their countries' businesses for the next generation.
In countries further along on its adoption curve, big data has already started to transform not only the information technology sector but almost every business in every industry. Incorporation of big data today is analogous in many ways to the transformative effect of electricity on industries in the 19th century. While electricity production and distribution became an industry in itself, it also led businesses in all sectors to redesign their processes to take advantage of this new resource, leading to unprecedented productivity gains of the Second Industrial Revolution. It isn't surprising therefore that at the recent World Economic Forum in Davos, there was much talk about the global economy being on a brink of a Fourth Industrial Revolution, fueled by big data enabled innovations. Governments in emerging economies cannot afford to be left out of this conversation.
In this blog I hope to show how big data, as a new resource – one that is abundant and rapidly growing – is transforming the business environment and changing the way companies compete with each other. I will also offer suggestions for actions and policies that governments can initiate to position their economies for the advent of the so-called Big Data Revolution, and show that if they don't, they risk losing market share to more digital data-savvy competitors. Finally, I will share a new tool: Open Data for Business (OD4B) Assessment and Engagement Tool, that the World Bank has launched to help governments lay the foundation for the use of one type of big data – open government data – by the private sector.