Job for youth
To harness some of that potential, the Bank in May 2016 launched the Jobs for Youth in Africa Strategy to boost the continent’s response to its youth unemployment and underemployment crisis.
By 2025, our Jobs for Youth in Africa (JfYA) Initiative will not only create 25 million jobs but also equip 50 million youth with employable skills. We empower Africa’s young innovators and entrepreneurs to become drivers of the continent’s transformation.
It is currently the largest effort for youth employment in Africa today.
Since the adoption of the JfYA strategy in 2016, the Bank has invested over US$20 billion in 318 projects that will impact the youth directly on their skills, entrepreneurship, business development and job creation in member countries.
The Flagships programs under the JfYA initiative:
The Youth Entrepreneurship and Innovation Multi Donor Trust Fund (YEI MDTF) is a grant vehicle that supports the implementation of the Jobs for Youth Strategy. The trust fund aims at addressing the unemployment gap by strengthening the entrepreneurship ecosystem in Africa. Its objective is to promote the creation of durable and sustainable jobs for youth through entrepreneurship. It provides interventions for equipping the youth, women-led start-ups, and micro, small and medium enterprises (MSMEs) with skills and financial support to run bankable businesses. It also aids countries to implement economic and social reforms toward job creation.
The resources of the trust fund increased nearly tenfold within one year (2018) from US$4.5 million to US$40 million, thanks to the contribution of Norway, Denmark Sweden, Italy and Netherlands.
Bank President Akinwumi Adesina in 2017 launched the Presidential Youth Advisory Group, (PYAG), a unique council of highly talented young Africans to advise the Bank on youth initiatives across its corporate activities.
The group provides insights and innovative solutions for creating jobs for Africa’s youth. Their contributions have had a major impact on the respective countries and fields. Collectively, their efforts are expected to transform the trajectory of Africa’s youth.
The Innovation Lab
Strong and functional enterprise support organizations (ESOs – i.e. business incubators, business accelerators and fund managers) are key to the success of African entrepreneurs and startups. The Innovation Lab, launched in XXX by the African Development Bank, supports ESOs and startups with capacity building, investment, network linkages and knowledge sharing. Operational since late 2018, the Lab strives to identify, survey and characterize ESOs throughout Africa. Results of this survey will be shared in June 2019 in an interactive online ESO database. Workshops for ESO operators run by experts in business incubation, acceleration, fund management and entrepreneurship will take place before Dec 31.
The African Development Bank launched the Coding for Employment program as a blueprint to accelerate this investment in human capital for the digital age. Through this program, the Bank builds synergies between global technology giants and education institutions to create demand-driven, agile and collaborative ICT trainings to equip African youth with relevant skills to secure ICT, ICT-enabled, and ICT services employment. Since 2018, the program has gathered momentum and over 1000 youth have been trained. It aims to build 130 ICT Centers of Excellence in Africa to skill and digitally-enable 234,000 young people, to promote entrepreneurship and create 9 million jobs. Read more