Thursday
June 10
2021

Analysis: African Youth Are Capable Entrepreneurs, Invest in Them Now

Africa boasts the largest workforce in the world. A recent report by the Organisation for Economic Cooperation and Development (OECD) titled 2020 Policy Note on Africa: The Future of Production indicated that the continent will, by 2030, be home to a capable labour force of over 1.6 billion, larger than Asia and South America. 

Yet, the continent creates very few employment opportunities: only 16 million new jobs were created between 2008 and 2016 for the continent’s youth (people aged between 15 – 24 years), a minuscule number considering the size of the youth cohort on the continent.

Figures for 2015 reflect that there was 226 million youth aged 15-24 in Africa. This means that those of the population who should be working – the majority of which are youth – is growing faster than the regional economy is able to accommodate them.

Photo courtesy of Joslyn Pickens.

Source: VentureBurn (link opens in a new window)

Categories
Entrepreneurship, Investing
Tags
economic development, entrepreneurs, entrepreneurship, impact investing, investing, youth employment