Youth Entrepreneurship - A Solution To Africa’s Unemployment Crisis?

Africa, with its rich cultural heritage, diverse landscapes, and vibrant communities, stands at a pivotal juncture. The continent’s trajectory is intrinsically tied to its young population—the African youths—who hold the key to shaping its destiny. As we look ahead, it becomes evident that the future of Africa lies squarely in their hands. In recent years, there has been a growing recognition of the pivotal role that African youth can play in driving economic growth across the continent. With Africa's youthful demographic profile and burgeoning entrepreneurial spirit, there exists a tremendous opportunity to harness the energy and creativity of young people to propel sustainable development and prosperity. However, for African youths to effectively contribute to economic growth, it is essential to identify the types of projects that align with the continent's needs and potential, while also implementing supportive policies and frameworks.

How African Youths Can Lead the Continent Through Entrepreneurship

Africa is a continent of immense potential and opportunities for young entrepreneurs who are willing to solve the challenges facing their communities and countries. According to the World Economic Forum, Africa now boasts seven unicorns (Flutterwave, Interswitch, Jumia, Fawry, Chipper Cash, Opay, Andela), up from zero in 2015, thanks to well-developed entrepreneurial education programs and ecosystems in some of Africa's larger countries. However, the COVID-19 pandemic has posed significant threats to the survival and growth of many startups, especially in sectors such as tourism, hospitality, and education. Therefore, it is crucial for African youths to build resilience and adaptability in their entrepreneurial journeys, as well as to learn from the inspirational success stories of their peers.

Case Studies and Success Stories from the Agricultural Sector

One such success story is that of Forget Shareka, an award-winning agro-processing entrepreneur in Zimbabwe who is tackling post-harvest food waste. Shareka founded Zim Earthworm Farms, a company that produces organic fertilizers and animal feed from organic waste using earthworms. His innovative solution not only reduces environmental pollution but also increases crop yields and income for smallholder farmers. Shareka was a participant in JA Zimbabwe's entrepreneurship education program, where he learned the skills and mindset to start and run his own business.

Another example of a young African entrepreneur who is making a positive impact is Nonopa Tenza, a South African agripreneur who is passionate about rural economic development and farming. Tenza founded Nono's Food Factory, a company that produces healthy snacks from indigenous crops such as amaranth, sorghum, and millet. Her products are aimed at addressing malnutrition and food insecurity among rural communities, as well as creating employment opportunities for women and youth. Tenza was also a beneficiary of JA South Africa's entrepreneurship education program, where she received mentorship and support to scale her business.

A third case study of a successful African youth entrepreneur is Emi-Beth Aku Quantson, a Ghanaian social entrepreneur who is creating impact through coffee. Quantson founded Kawa Moka, a coffee company that sources its beans from female farmers in Ghana's Eastern Region. Her mission is to empower women in the coffee value chain, as well as to promote Ghana's coffee culture and tourism. Quantson was part of JA Ghana's entrepreneurship education program, where she gained access to funding and networks to grow her business.

These are just some of the many examples of how African youths can lead the continent through entrepreneurship in the agribusiness sector.

Other Sectors with Great Potentials for Innovation and Entrepreneurship in Africa

However, there are also other sectors where innovations can improve the quality of people's lives, especially those of poorer households, providing access to affordable products and services. These sectors include, but are not limited to: ICT; financial services and financial inclusion; health; education; and renewable energy.

ICT

For instance, in the ICT sector, Africa has seen the rise of fintech and e-commerce startups that are disrupting the traditional ways of doing business and reaching customers. One of them is Jumia, Nigeria's first unicorn, which has hired over 5,000 employees and operates in 14 African countries. Jumia offers online shopping, food delivery, travel booking, classifieds, and digital payment services to millions of users across the continent. Another is BW Group, an ICT company Co-founded in Cameroon by Brinard Elingese. BW Group is an African ICT company that helps transform businesses with cutting-edge innovative engineering solutions and ICT services. Their services include but are not limited to diverse IT solutions, cloud engineering, Software development, etc.

FinTech

In the financial services and financial inclusion sector, Africa has witnessed the emergence of innovative solutions that enable access to credit, savings, insurance, and remittances for the unbanked and underbanked population. One example is M-Pesa, a mobile money service launched by Safaricom in Kenya in 2007. M-Pesa has grown to become one of the most successful mobile money platforms in the world, with over 40 million active users in 10 countries. Another example is WeCashUp, an online payment gateway intended to help merchants process payments easily developed by a young Cameroonian Atangana Cedric. The platform's gateway uses a single API and AI integration to accept cash, mobile money, bank mobile wallets, cards, and cryptocurrency payments, enabling users to securely transact anytime with a single management interface.

Health

In the health sector, Africa has seen the development of affordable and accessible solutions that address the challenges of disease prevention, diagnosis, treatment, and management. One example is Zipline, a drone delivery service that delivers blood and medical supplies to remote areas in Rwanda and Ghana. Zipline has improved access to life-saving health care for millions of people who live far from health facilities.

Education

In the education sector, Africa has experienced the growth of online learning platforms that provide quality and relevant education for learners of all ages and backgrounds. One example is Andela, a company that trains software developers in Nigeria, Kenya, Uganda, and Rwanda. Andela connects its graduates with global companies that need their skills, creating opportunities for income generation and career advancement.

Renewable Energy

In the renewable energy sector, Africa has witnessed the creation of clean and sustainable solutions that provide access to electricity for off-grid communities. One example is M-KOPA Solar, a company that offers pay-as-you-go solar home systems in Kenya, Tanzania, Uganda, Nigeria, and Ghana. M-KOPA Solar has enabled over one million households to access affordable and reliable energy.

These are some of the other sectors where African youths can lead the continent through entrepreneurship. By leveraging their creativity, passion, and resilience, the African youth can create innovative solutions that address the needs and opportunities in their markets. They can also benefit from the entrepreneurship education programs and ecosystems that are available in many African countries, which can provide them with the knowledge, skills, resources, and networks to succeed. Entrepreneurship is not only a way to generate income and wealth, but also a way to create social change and impact for Africa's future. The future of Africa is for the African youths and should be led and powered by the African youths.