kills gap affects 77 percent of productivity,42 percent efficiency and eight percent competitiveness of businesses in East Africa.
Statistics, according to a recent study, also show that 65 percent of African chief executive officers (CEOs) state that skills shortage prevent organizations from innovating effectively.
This emerged here yesterday where the East African Business Council (EABC) and the Nelson Mandela African Institution of Science and Technology (NM-AIST) agreed to partner in bridging the skills gap.
Under the Memorandum of Understanding (MoU), the two institutions will also work collaboratively to upscale digital transformation in the East African Community (EAC) bloc.
Speakers at the event concurred with the East African Qualifications Framework (EAQFHE) Survey, 2014 which indicated how skills gap has impacted on company performances.
EABC executive director John Bosco Kalisa said the MoU has come at a time when there is a great need to bridge the skills gap and address the mismatch in digital transformation.
“EABC will offer practical industrial placement for the academic in order to reduce skill mismatch and boost innovation towards a digital economy,” he said during the signing ceremony.
Mr.Kalisa added that digital and technologies underpin cross-border business resilience and recovery amid Covid-19.
He stated that the technological changes happening fast in the global economy and small and medium enterprises (SMEs) and industries have adopted digital tools.
These are the likes of e-commerce to access the EAC market and reinforce supply chains due to the disruption of Covid-19 pandemic.
He added the commencement of trading under the African Continental Free Trade Area (AfCFTA) has offered room for creation of new technological innovations to support industries.
These, according to him, would consolidate EAC exports and integrate SMEs into the regional value chains boosting the regional competitiveness.
The agreement outlines to improve collaboration on evidence research-based advocacy on agribusiness, health and industrial development and rolling out of professional, scientific and technical symposiums across the EAC bloc to commercialize innovations and research.
NM-AIST vice chancellor Prof. Emmanuel Luoga said the partnership was built on shared values to solve societal problems, promote innovation and aspirations of Africa growth - Agenda 2063.
The partnership also reinforced what he described as " theoretical approaches with practical tactics" that would enhance industrialization as a key factor in the EAC integration agenda.
Arusha regional commissioner John Mongella, Regional Commissioner of Arusha said the Tanzania government was committed to support the aspirations and implementation of the MoU between EABC and NM-AIST "since the East African people are the real beneficiaries of this remarkable partnership.”
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