How a rethink of the human capital model is needed in Africa to optimise the return on social spending

This policy note from UNICEF and the Learning for Well-being Institute examines how African governments allocate social spending for children, highlighting the need for greater investment in early childhood. Compared to G20 countries, where a larger share of resources supports young children, Africa’s spending priorities are more focused on older age groups. The note calls for rebalancing spending to better support the early years, which are crucial for long-term human capital development.