ECOWAS Reports 12% Growth in Human Capital Development, Calls for Urgent Action in Education
By Raymond Enoch
The Economic Community of West African States (ECOWAS) has recorded significant strides in human capital development (HCD), with a 12% improvement in its HCD Index since 2022.
This progress, highlighted in the recently published 2024 ECOWAS HCD Report, reflects advancements in health, nutrition, entrepreneurship, financial inclusion, and the digital economy.
However, the report also presents a worrying decline in education, skills development, and labor participation, raising concerns among policymakers and development stakeholders.
The findings stress the need for urgent government intervention to sustain progress and address gaps in critical sectors.
The ECOWAS HCD report is a biennial assessment of member states’ performance in targeted human capital development indicators collected between 2020 and 2022. It serves as a strategic tool to guide policy decisions and encourage coherent investments in HCD programs across the region.
According to the report, the ten-year ECOWAS Regional Integrated Human Capital Development Strategy (2020-2030), adopted in 2022, aims to position the region as Africa’s top-performing economic bloc by 2030. The strategy focuses on six core areas: Health and Nutrition, Education, Skills and Labor Participation, Entrepreneurship, Financial Inclusion, and the Digital Economy.
The 2024 report evaluated 18 key indicators across these areas, revealing:
Health and Nutrition having 10% improvement driven by reduced maternal mortality and child marriage rates, alongside increased government health expenditures.
Entrepreneurship, Financial Inclusion, and Digital Economy: Also a remarkable 50% growth, surpassing targets due to rising internet penetration and substantial investments in digital infrastructure.
Gender Inclusion 3% improvement, attributed to increased female participation in entrepreneurship and digital economy activities.
Education, Skills, and Labor Participation: a 7% decline, signaling a worrying reduction in government investment in education and workforce development.
Call for Action: Investing in Education and Workforce Development
While ECOWAS has made commendable progress in several areas, the decline in education and labor participation remains a critical concern. Experts warn that inadequate investment in these sectors could undermine overall human capital development and economic growth in the region.
“The findings highlight the urgent need for increased education funding and workforce development programs,” the report states. “Without these, the region risks slowing down its socioeconomic transformation.”
In order to address these challenges, the report pub forwarded key strategic recommendations which included increased public-private partnerships in education, greater investments in vocational training, and expanded digital literacy programs to prepare the workforce for the evolving economy.
As ECOWAS works towards becoming Africa’s leading regional economic community by 2030, sustained investments in human capital remain crucial topical issue for leaders in Member states to urgently tackle
. The 2024 HCD Report offers a roadmap for achieving this vision, but the success of these efforts will depend on the commitment of governments and stakeholders across the region.
Experts and observers are of the view that with the right policies and strategic interventions, ECOWAS has the potential to unlock unprecedented economic growth, empower its youth, and set a global example for human capital development in emerging economies.
