Lack of employment opportunities for young people has a significant hindrance to developing sub-Saharan Africa. Entrepreneurship is undoubtedly the greatest way to build prosperity and the only vehicle that can create true wealth, employment and ownership. As the most important vehicle for economic growth, there is little known about how best to support youth entrepreneurship. As Youthia, we propose the Youthia Model that outlines four core tenets that will radically disrupt the level playing field for the greater good. The Youthia Model focuses on four core priorities – namely collaborate, progressive, transfer of ownership and pioneer – that must be implemented immediately to build a powerful entrepreneurial ecosystem for socio-economic development. It is a STATE OF EMERGENCY.
By supporting the most powerful demographic on the youngest continent in the world – the youth, coupled by Africa’s new development model, we can allow entrepreneurship to do what it is intrinsically designed to do – create opportunity where none seemingly exists. Why is this a state of emergency? By 2020, in a mere four years, 122 million Africans will enter the labour market. The number of new jobs must be created to accommodate this demographic bulge. Added to the tens of millions currently unemployed or underemployed, making the consequences nearly too severe to bear if job creation is not prioritized.
The most important job of an entrepreneur is to create jobs. The second most important is to innovate around current structural challenges. Youth entrepreneurs need to play a role in providing the continent’s massive needs for reliable generation, housing, transportation, food security, communications, and financial services infrastructure, amongst many others. By innovating these crucial industries while creating sustainable jobs means the chance to pull a family permanently out of poverty, wider tax revenues for governments, ability for households to afford locally-made goods and services and greater social stability. The sexy result? A fit middle class that drives the growth for a safer, more stable continent. Double score!
How do we foster this structural transformation? By systematically implementing the unorthodox Youthia Model powered by the greatest youth supply chain. The time to act is NOW!