The Anzisha Prize, in partnership with MasterCard Foundation and the African Leadership Academy, has released a report that shows one million job opportunities would be created by 2030 for unemployed African youths.
The impact report stated that young people’s inexperience is perhaps their greatest asset for being successful entrepreneurs who create jobs for their peers.
“Young Africans today are three times more likely than the generation before them to be unemployed, and this was before the outbreak of the COVID-19 pandemic but our research and data over the last 10 years have proven that very young African entrepreneurs are exceptional at creating work opportunities for other youth,” the Executive Director of Anzisha Prize, Josh Adler, said.
Addressing various stakeholders, the report offers a guide on how a coordinated movement of these key influencers can change the trajectory of entrepreneurship in Africa for young people.
Anzisha Prize has supported 142 African youths through the entrepreneurship fellowship programme while these entrepreneurs have created over 2,500 jobs.
The report, however, noted that despite the proven record that young entrepreneurs provide opportunities for their peers, there should be a focus on the support of early age transitions to entrepreneurship.
Commenting, the regional head, Eastern and Southern Africa Mastercard Foundation, Daniel Hailu, said young people have the greatest stake in Africa’s economic future and the Anzisha Prize has proven that they are ready to roll up their sleeves and build that future.
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