Entrepreneurializing Africa
It was Pope Francis that called youth unemployment one of “…the most serious of the evils that afflicts the world these days…”
Many believe that extremist groups such as Boko Haram, Al Shabab and IS take advantage of unemployed youths who feel marginalised from the mainstream economy. It is this sense of disenfranchisement that makes them easy prey for terrorists. These radical groups cause untold amounts of bloodshed, devastation, instability and economic decay across the African continent and beyond.
Each year 12 million young people enter the job market in Africa . The formal private sector is too small to absorb the growing labour force.
The Economist estimates that over half of the young people in South Africa are unemployed. There are similar rates of unemployment across the continent. I believe the worlds smartest people don’t work for big multi-nationals. The worlds smartest people were born in small villages, didn’t have the right support to get into prestigious universities, don’t speak English and have been deprived of the socio-economic advantages that allow people to access jobs in large companies. Some sources estimate up to 80% of jobs today are found through referral. Many of the world’s smartest people therefore are frustrated and idle and isolated placing Africa’s youth at crossroads. Will Africa’s youth reach their true potential as wealth-creating demographic dividend; that help Africa reach true prosperity or are they