All over the world and for a long time, Much of the discussion on finding solutions to the unemployment problem has centered on the pivotal role of faster economic growth and cuts in real wages. Faster economic growth is viewed as a means of generating more jobs. Cuts in real wages are a reaction to the view that through their demands for higher wages, many groups of workers have priced themselves out of a job. How much growth and how large a fall in real wages would be required to reduce the size of the unemployment problem both remain matters for debate.
In the western world, many countries have different approaches to help reduce their unemployment rates. Methods of accumulation and dissemination of information on available jobs and workers are being improved. Unemployment agencies are tightening their job search and job acceptance requirements. Improvements to the education and training provided to young people, with a greater focus on vocational skills are being made. Several other solutions to the unemployment problem have been advanced in the literature. For example, work sharing, early retirement, and reduced migration have been discussed. These policies affect the labor market by reducing the supply of labor. However, they have not won a great deal of support among economists. And as a matter of consequence, for underdeveloped countries looking for the aforementioned solutions, there is no guarantee that those ideas would fit their job markets.
Talking about job markets in developing countries, where does Africa stand and where can it go? Whilst international trade is recognised as an important factor for fostering economic growth, lack of supply-side capacity along with western market access barriers have reduced development opportunities for a large number of poor and most vulnerable countries, threatening the objective of achieving a number of their own development goals. The current global recession is not helpful either. In addition to that, the principal ways through which the North interacts with Africa are mainly decided in the North and from now on, in China. Yet, those decisions have profound impact on african societies.
Therefore, there is a question I am starting to ask myself: Why shouldn’t Africans, in general, put in place policies and economic solutions closer to their cultural identity? The main characteristic of african cultural identities is solidarity. Many Africans are of the view that as their expectations are quite low from western relief and solidarity, an emphasis must be put on their self-reliance. Therefore, why couldn’t Africans imagine and set a system of solidarity to solve their own economic and social emergency situations instead of waiting for an hypothetical external relief that will never come their way?
Let’s take the job markets in Africa, data are desastrous in every sector of the population. Unemployment has become a way of life in African societies. Along with it, faith in God has also become a tool for African people to look for a betterment of their conditions. Since local governments are not that interested or engaged enough to find out ways to dig their people out of that hole, and since archbishops, priests and other kinds of pastors are such faithful partners, let’s sketch out a plan.
First, let’s set up a company and let’s call it a fund-raising company or an investment capital venture. within the company, there are shareholders. In order to become a shareholder of this company, there are some requirements to satisfy: The applicant should be a national (citizen) of the given country and be unemployed. He or she should be able to contribute to the company capital a minimum of CFA Francs 1000 (1.53 Euro or 2.10$US)) every month during one year. Given the fact that a country like Cameroon has an unemployed population which is about 50% of its 18 Millions population, so let’s be modest and target a 20% portion of those 9 Millions umemployed. Knowing that all the 50% of unemployed are not going to be able to contribute or some will not simply adhere to this concept. That makes a workable situation of about 1.8 Millions unemployed people to talk to and a substantial amount of 21.5 Billions CFA Francs or 33 Millions Euro or 40 Millions $US.
Since African societies are commonly tainted by suspicions of corruption, here is why the archbishops, priests and other pastors are going to be helpful. If they really are willing to alleviate the poverty conditions of their flocks, clerics must be active partners in this venture. While most of actual curates and clerics don’t have any economic or business background and therefore could not master neither with talent nor method those huge amounts of money, they will be provided with specific assistance. And their presence will ensure the fair and balanced character of the endeavor.
With those basics put in place, small and medium seize of companies active in green energies, agriculture, health care and manufacture sectors could be set up very easilly, without any government intervention, with targeted objectives and most importantly, with a great return on investment for every single shareholder involved in this venture. Benefits yielded from those companies would be a huge step forward for the african economy.
Fellow Africans, think about it. This could usher in a whole new economic era for this tortured continent.