2024 ECOWAS Report Indicates 12% Improvement In Human Capital Development

.. Records Decline In Education, Skill Development

ECOWAS Commission has published its 2024 Human Capital Development (HCD) report highlighting an overall 12 per cent improvement in the ECOWAS HCD Index since the last 2022 HCD report, reflecting significant progress in health, nutrition, entrepreneurship, financial inclusion, and the digital economy.

The report released in a statement on Tuesday however, recorded a decline in performance in education, skills development, and labor participation, calling for urgent action from policymakers and government stakeholders.

This biennial report presents member state performance in the HCD Index comprised of targeted HCD indicators collected between 2020-2022.

It serves as a strategic tool to inform policy decisions and promote coherent investments by member states in HCD interventions.

The 2024 ECOWAS HCD Report thus evaluated the progress of member states across the key areas of the ten-year ECOWAS regional HCD strategy with Health and Nutrition, Education, Skills and Labor Participation, Entrepreneurship, Financial Inclusion, and Digital Economy adopted as the thematic areas.

It examines 18 indicators, with the aim of positioning the region as the highest-performing regional economic community in Africa by 2030.

Key Findings of the 2024 HCD Report are as follows: Health and Nutrition: 10 percent improvement, driven by a decline in maternal mortality and child marriage rates, alongside increased government health expenditures; Entrepreneurship, Financial Inclusion, and Digital Economy: 50 percent performance growth,
surpassing targets, driven by investments in internet penetration and increased investments in digital infrastructure.

Under Gender Inclusion: 3 percent improvement, attributed to higher female participation in entrepreneurship and the digital economy while in Education, Skills, and Labor Participation, this is decline of 7 percent due to reduction in government spending underscoring the urgent need for increased investment in education and workforce development.

The 2024 HCD Report also presents a set of strategic recommendations to enhance human
capital outcomes and drive socioeconomic transformation across the ECOWAS region.

The ECOWAS Regional Integrated Human Capital Development (HCD) Strategy for 2020-2030
was adopted by the Authority of Heads of State and Government in 2022.