BUSINESS REPORTER
The African Union Development Agency-NEPAD (AUDA-NEPAD) and Afreximbank have launched an initiative that places Africa’s youth and women at the core of the continent’s economic growth and inclusive strategies.
The initiative, AUDA-NEPAD Energise Africa, was launched on the margins of the 77th United Nations General Assembly in New York.
“The Energise Africa initiative is about harnessing youths’ creativity and skills into the continent’s economic growth and development, whilst expanding income opportunities for the youth – through creation of jobs, innovation, and entrepreneurship,” said Nardos Bekele-Thomas, the AUDA-NEPAD chief executive officer.
Energise Africa’s focus is on young professionals to enhance public sector efficiency; stimulate solution-focused research and development, through innovation hubs, and; Entrepreneurship opportunities for Africa’s youthful populations for improved socio-economic well-being.
Afreximbank’s president and chairman of the board Benedict Oramah said the collaboration is a “demonstration of the partnership with AUDA-NEPAD towards ensuring that youth are at the core of our development”.
“The youth are indeed the leaders of tomorrow,” Oramah said.
Energise Africa initiative is a continental platform of youth professionals, institutions, and facilities to strengthen innovative solutions, skills development, employment, and entrepreneurship.
Statistics show that Africa has the highest percentage of entrepreneurs among working-age adults ahead of other continents.
Monique Nsanzabaganwa, Deputy Chairperson of the African Union Commission, called on the continent to step up efforts to leverage on the youth dividend.
“If we do not harness the youth dividend, it will remain a “potential.” Energize Africa is an opportunity to invest in the future of Africa,” Nsanzabaganwa said.
She said her presence at the launch was meant to signal the “political commitment” of the African Union Commission to “ensure we see change on the issue of youth employment in Africa, within the context of Agenda 2063”.
Every year, thousands of youths perish in the Mediterranean as they flee their countries in search of the proverbial greener pastures.
Amina Mohammed, Deputy Secretary-General of the United Nations said the initiative is indispensable to leverage Africa’s most valuable resource, its human capital.
“It is important for supporting start-ups to get on their feet and serve as long-term sources of innovation and growth – put simply, by giving young people a chance to design their future. Let us join efforts to energize Africa and build, the Africa we want, to ensure that no one is left behind,” Mohammed said.
Hailemariam Desalegn, former Ethiopia’s Prime Minister said real consultation with youth to build viable programmes will be key to making Energise Africa a success.
Wamkele Mene, AfCFTA Secretariat secretary general said Africa’s single market offers opportunities for seamless access to new markets, particularly in digital technologies. AfCFTA is working on a protocol on women and youth as it seeks to make the single market all-inclusive.
