Africa’s youth are already leading the way to economic success
Brookings | With Africa's rapidly growing young population expected to treble by 2050, the need for innovative and long-term solutions to boost youth employment is becoming increasingly critical. While the task is overwhelming, it has motivated many of Africa's bright and hardworking young people to take command of their own destinies by devising creative solutions to keep themselves occupied and engaged. As a result, training young people in entrepreneurship—how to start, develop, and manage businesses—is critical not only for improving individual lives but also for boosting the region's economic gains.
African students continue to demonstrate that they are imaginative, creative, and hardworking in bringing their ideas to reality, as proven by our entrepreneurship program. Young entrepreneurs, with the right backing, can create jobs, provide value, and innovate—all of which our continent sorely needs.
Young people are gaining skills outside of the classroom and being exposed to new and alternative job options, which presents an opportunity to catalyze change on the continent. Platforms like TEF Connect, our own digital marketplace for African entrepreneurs, are one example of such tools. More young Africans will be able to access chances, learn, and explore intra-regional prospects as the region expands.
Financial services and the digital ecosystem, for example, are promising industries that remind us of the numerous young African entrepreneurs that are developing revolutionary solutions and remaining innovative inside these sectors and beyond.
Financial services and the digital ecosystem, for example, are promising industries that remind us of the numerous young African entrepreneurs that are developing revolutionary solutions and remaining innovative inside these sectors and beyond. To achieve all of this, difficulties such as erratic governmental regulation, access to power and electricity, and logistics supply chain improvement must be solved.
The future is definitely bright: because of the recent decade's digital breakthroughs, the proliferation of digital technology and skills has greatly improved the lives of young people and provided unparalleled access to previously unattainable opportunities. The COVID-19 pandemic has startled the continent, and developing resilient enterprises that can weather adversity is a critical strategy to help African youngsters.
Furthermore, the creation of the African Continental Free Trade Area provides a catalytic opportunity to address these concerns and increase entrepreneurship across the continent. The future of entrepreneurship on the continent may be sustainable, efficient, and monumental by creating and streamlining business registration, operation, and regulatory processes.