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Tackling youth unemployment in Egypt through education reform and boosting innovation
- 1. Tackling Youth Unemployment in Egypt Nour El Wassimy 13.1 % (71million) 26% (2.9 million) 25% > ( 9.7 % men) (ILO, 2016)
- 2. Youth Unemployment S D 1950s - 1960s subsidization of education 1970s open door policy 1990s Neoliberal economic reforms (ERSAP) Labour Market
- 3. Supply : 1. Increased Supply of Unqualified Labor: 70% Hold Academic Degrees “Educated Unemployment” - Subsidization of Education - Lowering uni entry requirements (Nasser, Sadat ) Quantity Quality Education Occupation Gap
- 4. Supply : 1. Increased Supply of Unqualified Labor Solution: Education System Reformation 1. Upgrade Curriculums to Meet International Standards - Realign curriculums & teaching methodologies with int. certified benchmarks. - Created & revised annually by Industry representatives. (ensuring relevance of knowledge and skills) 2. Decentralization of Education “Glocal curriculums “ schooling system Operation Federal government governorate. - Management of finc Resources - Accountablity - Localised curriculums 3. Subsidize Elementary Middle School ONLY 4. Community & Service hours 1990s - Merit based scholarships based on performance . - Elementary to high school - Internships - Accumulated practical experience - Informed career choices Align student capabilities with evolving business demands.
- 5. Supply : 2. Proliferation of The Shadow Economy: % of informal activities: = 40-60% = 1.2 - 1.5 T LE = 2/3 formal economy Solution: E-Sharing Apps - Diminishing online transactions barrier - Access to smartphones & internet is not class specific. * Mobile penetration over 100% * Internet penetration 40% Electronic Payment Auto deductible Income tax Domestic worker - Market Accessibility - Geographic vicinity - Protection of rights Customer - Training (Quality) - Security check - Standard wage + bonus performance appraisal. WIN WIN Formalized Domestic informal jobs Integrate with SMS gateways Mobile penetration Banking penetration45% of Kenya’s GDP Is going through M-PESA Formalizing the economy. Kenya
- 6. Demand: A Weak Infrastructure for Innovation & Entrepreneurship Innovation is THE key instrumental factor leading to sustainable economic growth Challenges:
- 7. Demand: A Weak Infrastructure for Innovation & Entrepreneurship Solution: shift towards a knowledge-based economy. National Innovation System Links actors involved in the innovation process Information system Government policies & support systems Financial systems Support of industry associations and NGOs Education system 360 products annually Ministry of Innovation Entrepreneurial ecosystem - technology parks link: connect Ind. , Unis , Gov. - Incubators: provide start-ups with: - Business advisory services, - Mentoring services - Access to funds, labs, resources etc. 10 incubators in Egypt functioning independently Work under a single unit Unified vision strategic goals Avoid duplication of resources Incentivize Innovation - Intellectual property rights - Patent, antimonopoly, competition law - R&D expenditure - Tax breaks to innovation related investments. Focus research efforts & funds on developing local capital intensive industries with a comparative advantage. 1 2 3 Development Diffusion of tec.
- 8. Demand: A Weak Infrastructure for Innovation & Entrepreneurship Solution: shift towards a knowledge-based economy. Ease The Access to Diversified Fund Sources4 Non- Traditional Fund Sources venture capitals, crowd sourcing, angel investors localized version Innovators Investors Technical/ Business know how Traditional Fund Sources Share Profits & loss Offer mentorship Lenders Active business partners Invest in fintech start-ups Create fintech incubators -Remain competitive -Innovative customer oriented solutions
- 10. Thank You
Editor's Notes
- http://communitytimes.me/unravelling-egypts-labor-force-why-cant-the-average-educated-egyptian-find-a-suitable-job/
- Youth unemployment in very basic terms is an imbalance in the labour market where the Supply exceeds and does not match the demand. This imbalance has been increasing because in the past during gamal, sadat, and mubaraks era reformations and efforts where predominantly focused on addressing one side of the equation and not the other. Hence in order to gain pubable and effective results that would mitigate this problem we need to adopts adopt a holistic approach that simultaneously addresses the factors contributing to youth unemployment lying on both the supply and demand side of the labour market equation.
- Where in the case Egypt not only is the supply of labour greater than the demand but there is also a mismatch of skills due to an education occupation gap.
- Where in the case Egypt not only is the supply of labour greater than the demand but there is also a mismatch of skills due to an education occupation gap. build a strong educational base that would increase their chances of success at later stages.
- E-sharing could possibly be a plausible solution that would bring light to the shadow economy. Ripe environoment jobs. This solution is highly plausible in Egypt as illustrated by the success of esharing apps such as uber, careem, OLX, and dubizzle in the past 4 years. Afghanistan, South Africa, India and in 2014 to Romania and]] in 2015 to Albania alternative payment method, that credit card or cash.
- Where in the case Egypt not only is the supply of labour greater than the demand but there is also a mismatch of skills due to an education occupation gap.
- Institutions which jointly and individually contribute to the development and diffusion of new technologies, To overcome these challenges we should shead the light and benefit from Malaysia’s experience where they created a strong NIS which allowed it to launch a new product in the market everyday so they creat 360 new products a year. -Link actors involved in the innovation process
- Institutions which jointly and individually contribute to the development and diffusion of new technologies, To overcome these challenges we should shead the light and benefit from Malaysia’s experience where they created a strong NIS which allowed it to launch a new product in the market everyday so they creat 360 new products a year. -Link actors involved in the innovation process
- Where in the case Egypt not only is the supply of labour greater than the demand but there is also a mismatch of skills due to an education occupation gap.