Scaling up Financing for the Youth - Africa's Greatest Asset!

AUTHOR: Chilombo (Olga) Priscila Economist and Economist @ RDJ Consulting

Scaling up Financing for the Youth - Africa's Greatest Asset!

A frica is the continent with the youngest population worldwide. The African Youth Charter defines youth as those aged between 15-35 years, encompassing groups with different social, economic and political needs.

Currently, around 60% of Africa's population is younger than 25 years, with a median age of 19.8, and more than a third this group (the 60%) are between 15 and 34 years old. By 2030, young Africans are expected to make up 42 percent of the world's youth and account for 75 percent of the those under age 35 in Africa.

The World Bank reports that Africa’s working age population is expected to grow by 450 million people, or close to 70 percent, by 2035. New analysis shows that without effective policy change, there will only be about 100 million new jobs for this growing cadre of working people.

Africa must move beyond youth empowerment to youth investment, …This will help turn Africa’s demographic asset into an economic asset for the continent.”

Author’s representation of 2010 to 2021 population distribution for Sub-Saharan Africa by age group.

www.statista.com

Read full article here: https://issuu.com/rdjbriefing/docs/rdj_briefing_-_august_2022