Mastercard Foundation to enable 30m African Youth get Employment

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Reeta Roy
Reeta Roy

 

The Mastercard Foundation is to enable 30 million African youth to secure jobs by 2030

 

TODAY, the Mastercard Foundation announced a commitment to enable 30 million African youth, especially young women, to secure dignified and fulfilling work by 2030. The Foundation also announced two new programs in Rwanda that will directly contribute to the overall goal of increasing economic opportunities for young people in Africa.

Today’s announcements are part of the Foundation’s ambitious new strategy, Young Africa Works, which aims to reduce poverty on the continent by tackling youth unemployment. The strategy is the result of extensive consultations with leaders of African governments, the private sector, educational institutions, civil society, and young people.

Africa has one of the highest unemployment rates in the world, particularly for young people. By 2030, there will be more than 375 million people under the age of 35 in the labour market. Population growth on the continent means that by 2035, there will be more young people entering Africa’s workforce each year than the rest of the globe combined. In 2050, one quarter of the world’s working age population will be African, making it the largest workforce in the world.

“Youth unemployment in Africa is the issue of our time. Together, we have an extraordinary opportunity to shape the future and increase prosperity for all,” said Reeta Roy, Mastercard Foundation President and chief executive officer, CEO. “In fact, young people are leading the way. Let’s support their aspirations for their communities and their countries.”

The Young Africa Works strategy builds on what the Foundation has learned from a decade of working in Africa, expanding access to education and financial inclusion. The new strategy puts an emphasis on working with African organizations and designing solutions specific to a country’s economic needs and goals. Collaborating with governments and the private sector to identify priority areas for growth, the Foundation’s programs will prepare young people with the skills they need for employment through relevant training and education, use technology to connect employers and job seekers, and enable entrepreneurs and small businesses to expand through access to financial services.

– Mar. 22, 2018 @ 2:33 GMT |

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