Innovative examples of countries driving good job creation with technology Investing in physical infrastructure to build a semiconductor industry Semiconductor manufacturing is estimated to become a $1 trillion industry by 2030, and many middle-income countries are poised to benefit greatly from this boom. Africa, for example, contains around one-third of the critical minerals necessary for semiconductor manufacturing. Establishing a strong semiconductor ecosystem would not only provide local jobs for STEM graduates, but also provide downstream economic opportunities, contributing to a resilient global supply chain that benefits both the local economy and its international partners. Several actions are key to driving good job creation through technology infrastructure investment, including: Structural transformation: investing in electricity, power grids, manufacturing plants and other necessary hard infrastructure; fostering a consistent and predictable political and business environment to attract investment and facilitate knowledge exchange from global players. To maximize local gains, overall internet connectivity and bandwidth for the population should not be compromised, but enhanced. Agency and awareness: forging investment agreements (such as Kenya’s agreement with the United States), fostering collaborations between research centres, local universities and established firms, building a robust supply of talent with chip manufacturing skills and applying appropriate industrial policy to reap the benefits of local job creation and economic growth. Resilience: As jobs in the semiconductor industry have been found in some cases to have low pay and unsafe conditions, governments and businesses would need to take steps to ensure job quality to protect workers and make the industry more sustainable, including implementing a good work agenda and supporting collective bargaining. Investing in technology to promote the green transition Investing in technology to drive the green transition offers a dual advantage: it supports economic growth while addressing environmental challenges. By fostering innovations in renewable energy and eco-friendly products, such investments create new industries, jobs and market opportunities, particularly in regions that need them most. At the same time, they reduce carbon emissions and promote resource efficiency, ensuring a healthier planet for future generations. For example, technology and financial services company M-Kopa in Kenya leverages solar technology to provide affordable, off-grid electricity to rural households, improving access to energy while reducing reliance on costly and polluting fuels. By expanding solar infrastructure, M-Kopa also focuses on creating jobs across distribution, installation and customer service, fostering economic opportunities in underserved communities. Leveraging Technology Investment for Good Job Creation 9

Leverage Technology Investment GFC 2024