Investment & Regional integration

The impact of renewable energy development on employment is uncertain and depends on a combination of direct effects, within the renewable energy sector, and the wider implications across other sectors of the economy.  In a new DNA blog post Vincent van der Westhuizen highlights the need for further economy-wide studies and continuous monitoring and evaluation to guide South Africa’s national RE and employment policies and to ensure that RE generation does ultimately contribute to employment creation.

Industrial policy has re-emerged as a central economic strategy in many advanced and developing economies. Driven by global challenges such as the COVID-19 pandemic, geopolitical tensions, and climate change, this resurgence has significant implications for countries worldwide. @Itumeleng Mokoena explores the potential impact of this resurgence on South Africa. 

Africa’s nearly 420 million youth embody the continent’s vast potential for economic and social development. However, one third of these youth are currently unemployed and raising economic growth is crucial for harnessing this demographic dividend . In the previous period of globalisation, Africa depended heavily on exports of commodity goods to the rest of the world to drive economic development, but this has not been sufficient to create the jobs needed to lift large parts of the continent out of poverty. In the era of “slowbalisation”, with global economic integration cooling, African countries are offered a challenge and opportunity to recalibrate their development strategies and to thrive in a changing world, mainly through regional integration and the implementation of the African Continental Free Trade Agreement (AfCFTA).