[Challenge:Future] Project PAYED


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[Challenge:Future] Project PAYED

  1. 1. ENTREPRENEURSHIP INITIATIVE FOR AFRICAN YOUTH PRESENTS PARTNERSHIP ACTION FOR YOUTH ENTERPRISE DEVELOPMENT PROJECT P.A.Y.E.D. TMEntrepreneurship Initiative for African Youth Building Young Entrepreneurs…Transforming Africa’s Economy 1
  2. 2. YOUTH DEMOGRAPHYAFRICARecent survey indicates that young Africans aged between 15 and 25 represent morethan 60 per cent of the continent’s total population and account for 45 per cent of thetotal labour force. Unlike other developing regions, sub-Saharan Africa’s population isbecoming more youthful, with youth as a proportion of the total population projectedat over 75 per cent by 2015, due to the high fertility rate underlying the demographicmomentum. It is expected that this increase in the number of young people will notdecline before 20 years or more.The United Nations (UN, 2010) estimates that Sub-Saharan Africa’s population ofcurrently 820 million will more than double to almost 1.7 billion by 2050 increasingfrom its current share of 12% of the world population to 19% in 2050.As a consequence of the ongoing strong population growth, Africa has an extremelyyoung population and a population pyramid that still deserves the name.In addition to its youth, Africa’s population is increasingly urban 2
  3. 3. NIGERIA According to the calculations of the Next Generation Report 2010 by British Council Nigeria, Nigeria needs to create 15 million new jobs over the next ten years just to keep employment at current levels. If Nigeria aims to halve unemployment, it will need to create 24 million new jobs, expanding the labour market by almost 50%. If unemployment is to be brought to 7% by 2030, the labour market needs to nearly double in size, creating almost 50 million jobs. young Nigerians are increasingly frustrated by their lack of opportunities, and there are signs of new movements emerging to campaign for change. The next generation can make a huge contribution to Nigerias future, but if its potential is not harnessed, it will become an increasingly disruptive force. Many young people have little or no skills, lack of access to finance and networking opportunities; and are therefore largely excluded from productive economic and social life. 3
  4. 4. NIGERIA If Nigeria fails to collect its demographic dividend, the seriousness of the countrys predicament should not be underestimated. Its prospects will be bleak and could be catastrophic. In the worst case, Nigeria will see: growing numbers of restless young people frustrated by lack of opportunity; increased competition for jobs, land, natural resources, and political patronage; cities that are increasingly unable to cope with the pressures placed on them; ethnic and religious conflict and radicalisation; and a political system discredited by its failure to improve lives. 4
  5. 5. BEYOND THE HOMOPHOBIAAll over the world, entrepreneurship hasbeen recognized as a key to addressingyouth unemployment. 5
  6. 6. BEYOND THE HOMOPHOBIAAFRICAWe must start from the simple premise thatAfrica’s future is up to Africans. (Barrack Obamain Ghana 2009)According to Ghanaian economist George AyitteyAfrica is emerging into a new generation, forwhich is coined the term ‘Cheetah generation’, isemerging among urban educated youths. Theyare entrepreneurial, vocal and dislike corruption. 6
  7. 7. BEYOND THE HOMOPHOBIANIGERIANigeria urgently needs to develop a thorough action planfor its next generation. At present, policymakers are facedwith a dearth of robust data on the countrys futurechallenges. Better evidence is needed to inform morefarsighted policies. (Next Generation Report 2010)Without remedial action, the crisis in the job market willworsen rapidly as growing numbers of young Nigeriansenter the workforce. Nigeria needs to create almost 25million jobs over the next ten years if it is to offer work tonew entrants, and halve current unemployment. 7
  8. 8. PROJECT P.A.Y.E.D. TM MEANS“RIGHT SOLUTION @ THE RIGHT TIME” More young people means more opportunity !!! 8
  9. 9. FIVE PILLARS OF PROJECT P.A.Y.E.D. TM 1 2 3 4 5
  10. 10. IMPACT OF PROJECT P.A.YE.D. TM AFRICA At least 200,000 inspired young entrepreneurs will be birthed and/or empowered annually across Africa through practical entrepreneurship training (21st century skills) and access to capital for their businesses At least one million jobs will be created for young Africans annually 10
  11. 11. NIGERIA Empower 18,500 young entrepreneurs annually in Nigeria through practical Entrepreneurship Education & training 11,100 young entrepreneurs access capital to start and/or grow their businesses annually in Nigeria At least 92,500 jobs will be created for youths annually in Nigeria 11
  12. 12. About EIFAYVISION: Is to raise twenty first century young entrepreneurs that will transform African economyMISSION: To explore strategic partnerships and other innovative approaches towards addressing youth unemployment in Africa through providing unique opportunities for the youth to actively participate in economic transformation of AfricaCORE VALUES:□Teamwork □Research driven □Innovation □Partnership □Passion =TRIPP 12
  13. 13. EIFAY PROGRAMMES Partnership Action for Youth Enterprise Development (Project PAYED)TM African Network of Young Entrepreneurs Young Entrepreneurs Learning Platform Girls in Risk Learning & Studies (Project Girls Africa) Youth Entrepreneurship Summits/ Conferences (Zonal, national, regional and continental) Resource mobilization, expanded business opportunities etc for young African entrepreneurs TM Students Entrepreneurship Program (STEP) 13
  14. 14. FINAL WORDTo realise the dream of an African Renaissance, theentrepreneurial energies of young Africans, should beharnessed to contribute towards economic development,job creation and the alleviation of povertyBarack Obama in Ghana (2009): “The 21st century will beshaped by what happens not just in Rome or Moscow orWashington, but by what happens in Accra, as well.” 14
  15. 15. HAPPY PARTNERSHIP WITH PROJECT “P.A.Y.E.D.” !!! TM THANK YOU Emmanuel Acha Executive Director, Entrepreneurship Initiative for African Youth wwww.youthenterpriseafrica.org info@youthenterpriseafrica.org +234 803 375 1328 15