Africa throws money at youth firms in efforts to rein in unemployment

adesina

African Development Bank (AfDB) President Dr Akinwumi Adesina. 

Photo credit: File | Nation Media Group

Ten years after adoption of the 2030 Sustainable Development Agenda by the United Nations, Africa remains far from achieving the goal of taming youth joblessness and many countries are shifting their focus to financing youth enterprises as a means to boost self-employment.

The latest estimates from the Africa Youth Employment Clock, a lobby, indicate that in 2025, about 121 million youth aged 15 to 35 will be unemployed or classified as “not in education, employment, or training (NEETs)” – 2.8 million more than in 2024. This represents 23 percent of this age group, which makes up about 60 percent of the continent’s population.