The increasing number of African youth looking to entrepreneurship a as viable career option is on the the upswing. Youth on the world’s next big growth market are charting their entrepreneurial future and challenging the outdated narrative that attaining a formal education guarantees employment.
JA recently conducted an impact report
by JA Alumni who participated in the JA Company Program over five years ago. The research conducted across five African countries found that learning entrepreneurship in high school has positively shaped the world’s next big growth market and their approach to entrepreneurship as a solution to joining the workforce.
The Global Entrepreneurship Monitor (GEM) found that Africa has a higher number of entrepreneurial activities reaching over 20 %, in comparison to Europe and North America who report lower rates of entrepreneurial activity, less than 10 %. The high percentage of young people on the African continent is appeasing to the keen entrepreneur; who sees opportunity on the world’s next big consumer market as fertile ground. Sixty percent (60 %) of Africa’s population is less than 25 years old and with improvement in education and technological advancements means that Africa’s youth is better equipped compared to older generations.
According to a report by the African Development Bank, by 2050 Africa will be home to 38 of the 40 youngest countries in the world, with median populations under 25 years of age. This will result in an estimated 10-12 million new people joining the labor force each year. With this anticipated population boom, it is clear that African Youth will shape the future with the right knowledge and investment. This is where JA plays a pivotal role in teaching young people the relevant skills to be entrepreneurial, financially literate and work ready. Taking on opportunities that are presented to them and being proactive in their entrepreneurial and corporate journey.