African economies have continued to experience significant growth over the years, however unemployment, especially youth unemployment has continued to grow rampant.
In Kenya, the situation is no different as the country continues to record high levels of youth unemployment. To combat this escalating youth unemployment rate and promote entrepreneurship, the African Development Bank (AfDB) recently held a three-day workshop in Nairobi to enhance its initiative in preparation for its next stage.
The initiative dubbed the ‘Empowering Novel Agri-Business-Led Employment’ (ENABLE) Youth Program has been empowering young African men and women to access financing to expand their businesses.
The workshop held from 3rd to 5th April, 2024, brought together a number of participants including banking staff, to assess the program’s progress and draw lessons for future initiatives in the region.
According to Ms. Nnenna Nwabufo, Director General for East Africa at the AfDB, who was present at the workshop, the youth have a major role to play in agricultural development in Africa.
“Africa can feed itself, however, we are importing food from outside the continent. Through empowering Africa’s youth, the Program is changing that story. The Program has demonstrated its potential to catalyze economic growth, create opportunities for young Africans, and drive sustainable development,” she said.
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The agriculture sector has the ability to unlock the economic potential of Africa and give the youth a way out of unemployment through entrepreneurship.
In accordance to Dr. Martin Fregene, Director for Agriculture and Agro-industry at AfDB, agriculture has a major role in unlocking Africa’s economic potential and empowering its youth.
“By equipping them with the necessary skills, technologies, resources, and support, we can harness the demographic dividend and transform the agricultural sector to make it more efficient and competitive and to become a driver of inclusive growth and prosperity,” Fregene said.
Millicent Omukaga, Principal Policy Analyst at AfDB agreed with her colleague, highlighting the imperative of skills development and job creation in leveraging Africa’s demographic dividend.
“There is a need for a renewed focus on entrepreneurship and private sector engagement in the program’s future extensions,” she said.
However, for the sector to benefit youth in terms of entrepreneurship, there is need to tackle the challenges many agri-preneurs face. According to Dr. Damian Ihedioha, Manager for Agro-Industry and Agribusiness, there is need to address the challenges youth face in agriculture.
“Moving forward, we must adopt holistic approaches that address barriers to entry, access to finance, and market linkages to ensure the sustained success of our youth-led agribusiness ventures,” he said.
The future of the ENABLE Youth Program looks promising. Governments across the continent, international development partners, agri-business companies, finance institutions, youth and women groups have shown interest in supporting the program tackle youth unemployment and food insecurity.
The program fosters entrepreneurship, paving the way for a prosperous, food-secure, and sustainable Africa.
