Monday, July 7, 2014

AFRICA IN FOCUS>>Coming up on 8 July, 2014: "The Informal Economy in Africa"

                                        The Informal Economy in Africa

The informal sector dominates much of Africa. The so-called “Africa Rising” tag comes with hidden statistics that have heretofore been unrevealed. The exception that has proved the rule has been Nigeria, since it rebased its economy in April. But the story is not over. Rebasing the economy has not meant that the informal economy therefore makes Nigeria any less rich. What we can surmise it to mean is that a lot more African countries can begin to consider ways of doing same to include the much-patronised informal sector.

In the difficult prevailing economic conditions, it is likely that more people are operating in a so-called shadow economy where they have a 9-to-5 job, and couple it with one in the informal economy.

A general discussion needs to be had so Africans can begin to reflect on the trajectory of the sector, and how it can be modernized. And a specific discussion is found wanting because countries, such as Rwanda, do not necessarily have an informal sector in the traditional way that people in West Africa understand it.

So, what is it, for example, that they have been doing to upset the apple cart on modernizing the economy? Is there something that other African countries can, yet again, learn from this small, landlocked country in East Africa that has been getting things right after the country died 20 years ago? If the informal sector is to remain an important part of regions like West Africa, what needs to be modernized about it to ensure it remains equitable for those who are in it, and what are the linkages to the formal economy that can be explored to maximize efficient development of Africa’s global economy?

Guests include:

Ø  Ibrahim Akalbila, Coordinator at Ghana Trade Livelihood Coalition (GTLC)
Ø  Eunice Marfo, Executive Secretary at Ghana Association of Savings and Loans Companies (GHASALC)
Ø  Janet Faden, a freelance Online journalist based in Jos, Nigeria, who practices under her media enterprise called JfadenMultimedia
Ø  Edmund Benjamin-Addy, who has worked in advisory service for the past five years for individual clients in the Small and Medium-scale Enterprises (SME's) and works as Head of Monitoring and Evaluation at the Ghana Susu Collector’s Association
Ø  A representative from Network for Women’s Rights (NETRIGHT)

Tune in at 13h10 GMT (1:00pm Ghana Time). We’re also streaming live

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