PARTNERSHIP ACTION FOR YOUTH ENTERPRISE DEVELOPMENTPARTNERSHIP ACTION FOR YOUTH ENTERPRISE DEVELOPMENT

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ENTREPRENEURSHIP INITIATIVE FOR AFRICAN YOUTH

Entrepreneurship Initiative for African YouthBuilding Young Entrepreneurs…Transforming Africa’s Economy

PROJECT P.A.Y.E.D.PROJECT P.A.Y.E.D.

PRESENTS

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Recent survey indicates that young Africans aged between 15 and 25 Recent survey indicates that young Africans aged between 15 and 25 represent more than 60 per cent of the continent’s total population and represent more than 60 per cent of the continent’s total population and account for 45 per cent of the total labour force. Unlike other developing account for 45 per cent of the total labour force. Unlike other developing regions, sub-Saharan Africa’s population is becoming more youthful, with regions, sub-Saharan Africa’s population is becoming more youthful, with youth as a proportion of the total population projected at over 75 per cent youth as a proportion of the total population projected at over 75 per cent by 2015, due to the high fertility rate underlying the demographic by 2015, due to the high fertility rate underlying the demographic momentum. It is expected that this increase in the number of young momentum. It is expected that this increase in the number of young people will not decline before 20 years or more.people will not decline before 20 years or more.

The United Nations (UN, 2010) estimates that Sub-Saharan Africa’s The United Nations (UN, 2010) estimates that Sub-Saharan Africa’s population of currently 820 million will more than double to almost 1.7 population of currently 820 million will more than double to almost 1.7 billion by 2050 increasing from its current share of 12% of the world billion by 2050 increasing from its current share of 12% of the world population to 19% in 2050.population to 19% in 2050.As a consequence of the ongoing strong population growth, Africa has an As a consequence of the ongoing strong population growth, Africa has an extremely young population and a population pyramid that still deserves extremely young population and a population pyramid that still deserves the name.the name.In addition to its youth, Africa’s population is increasingly urbanIn addition to its youth, Africa’s population is increasingly urban

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YOUTH DEMOGRAPHY

AFRICA

NIGERIANIGERIA

According to the calculations of the Next Generation Report 2010 by According to the calculations of the Next Generation Report 2010 by British Council Nigeria, Nigeria needs to create 15 million new jobs British Council Nigeria, Nigeria needs to create 15 million new jobs over the next ten years just to keep employment at current levels. If 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 Nigeria aims to halve unemployment, it will need to create 24 million new jobs, expanding the labour market by almost 50%. If new jobs, expanding the labour market by almost 50%. If unemployment is to be brought to 7% by 2030, the labour market unemployment is to be brought to 7% by 2030, the labour market needs to nearly double in size, creating almost 50 million jobs. needs to nearly double in size, creating almost 50 million jobs.

young Nigerians are increasingly frustrated by their lack of young Nigerians are increasingly frustrated by their lack of opportunities, and there are signs of new movements emerging to opportunities, and there are signs of new movements emerging to campaign for change. The next generation can make a huge campaign for change. The next generation can make a huge contribution to Nigeria's future, but if its potential is not harnessed, it contribution to Nigeria's future, but if its potential is not harnessed, it will become an increasingly disruptive force.will become an increasingly disruptive force.

Many young people have little or no skills, lack of access to finance and Many young people have little or no skills, lack of access to finance and networking opportunities; and are therefore largely excluded from networking opportunities; and are therefore largely excluded from productive economic and social life.productive economic and social life.

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NIGERIANIGERIA

If Nigeria fails to collect its demographic dividend, the If Nigeria fails to collect its demographic dividend, the seriousness of the country's predicament should not seriousness of the country's predicament should not be underestimated. Its prospects will be bleak and be underestimated. Its prospects will be bleak and could be catastrophic.could be catastrophic.

In the worst case, Nigeria will see: growing numbers In the worst case, Nigeria will see: growing numbers of restless young people frustrated by lack of of restless young people frustrated by lack of opportunity; increased competition for jobs, land, opportunity; increased competition for jobs, land, natural resources, and political patronage; cities that natural resources, and political patronage; cities that are increasingly unable to cope with the pressures are increasingly unable to cope with the pressures placed on them; ethnic and religious conflict and placed on them; ethnic and religious conflict and radicalisation; and a political system discredited by its radicalisation; and a political system discredited by its failure to improve lives.failure to improve lives.

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BEYOND THE HOMOPHOBIABEYOND THE HOMOPHOBIA

All over the world, entrepreneurship All over the world, entrepreneurship has been recognized as a key to has been recognized as a key to addressing youth unemploymentaddressing youth unemployment..

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BEYOND THE HOMOPHOBIABEYOND THE HOMOPHOBIA

AFRICAAFRICAWe must start from the simple premise that We must start from the simple premise that Africa’s future is up to Africans. (Barrack Africa’s future is up to Africans. (Barrack Obama in Ghana 2009)Obama in Ghana 2009)

According to Ghanaian economist George According to Ghanaian economist George Ayittey Africa is emerging into a new Ayittey Africa is emerging into a new generation, for which is coined the term generation, for which is coined the term ‘Cheetah generation’, is emerging among ‘Cheetah generation’, is emerging among urban educated youths. They are urban educated youths. They are entrepreneurial, vocal and dislike corruption.entrepreneurial, vocal and dislike corruption.

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BEYOND THE HOMOPHOBIABEYOND THE HOMOPHOBIA

NIGERIANIGERIANigeria urgently needs to develop a thorough action plan Nigeria urgently needs to develop a thorough action plan for its next generation. At present, policymakers are for its next generation. At present, policymakers are faced with a dearth of robust data on the country's faced with a dearth of robust data on the country's future challenges. Better evidence is needed to inform future challenges. Better evidence is needed to inform more farsighted policies. (Next Generation Report 2010)more farsighted policies. (Next Generation Report 2010)

Without remedial action, the crisis in the job market will Without remedial action, the crisis in the job market will worsen rapidly as growing numbers of young Nigerians worsen rapidly as growing numbers of young Nigerians enter the workforce. enter the workforce. Nigeria needs to create almost 25 Nigeria needs to create almost 25 million jobs over the next ten years if it is to offer work million jobs over the next ten years if it is to offer work to new entrants, and halve to new entrants, and halve current unemployment.current unemployment.

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PROJECT P.A.Y.E.DPROJECT P.A.Y.E.D..

MEANSMEANS

““RIGHT SOLUTION @ RIGHT SOLUTION @ THE RIGHT TIME”THE RIGHT TIME”

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More young people means more opportunity !!!

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FIVE PILLARS OF PROJECT FIVE PILLARS OF PROJECT P.A.Y.E.D.P.A.Y.E.D.

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IMPACT OF PROJECT P.A.YE.DIMPACT OF PROJECT P.A.YE.D..

AFRICAAFRICA At least 200,000 inspired young At least 200,000 inspired young

entrepreneurs will be birthed and/or entrepreneurs will be birthed and/or empowered annually across Africa through empowered annually across Africa through practical entrepreneurship training (21practical entrepreneurship training (21stst century skills) and access to capital for century skills) and access to capital for their businesses their businesses

At least one million jobs will be created for At least one million jobs will be created for young Africans annuallyyoung Africans annually

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NIGERIANIGERIAEmpower 18,500 young entrepreneurs Empower 18,500 young entrepreneurs

annually in Nigeria through practical annually in Nigeria through practical Entrepreneurship Education & trainingEntrepreneurship Education & training

11,100 young entrepreneurs access 11,100 young entrepreneurs access capital to start and/or grow their capital to start and/or grow their businesses annually in Nigeriabusinesses annually in Nigeria

At least 92,500 jobs will be created for At least 92,500 jobs will be created for youths annually in Nigeriayouths annually in Nigeria

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About EIFAYAbout EIFAYVISION:VISION: Is to raise twenty first century young entrepreneurs Is to raise twenty first century young entrepreneurs

that will transform African economythat will transform African economy

MISSION:MISSION: To explore strategic partnerships and other To explore strategic partnerships and other

innovative approaches towards addressing youth innovative approaches towards addressing youth unemployment in Africa through providing unique unemployment in Africa through providing unique opportunities for the youth to actively participate in opportunities for the youth to actively participate in economic transformation of Africaeconomic transformation of Africa

CORE VALUES: CORE VALUES:

□□TTeamworkeamwork □ □RResearch drivenesearch driven □ □IInnovationnnovation □□PPartnershipartnership □ □PPassionassion = =TRIPPTRIPP

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EIFAY PROGRAMMESEIFAY PROGRAMMES Partnership Action for Youth Enterprise Partnership Action for Youth Enterprise

Development (Project PAYED)Development (Project PAYED) African Network of Young EntrepreneursAfrican Network of Young Entrepreneurs Young Entrepreneurs Learning PlatformYoung Entrepreneurs Learning Platform Girls in Risk Learning & Studies (Project Girls Girls in Risk Learning & Studies (Project Girls

Africa)Africa) Youth Entrepreneurship Summits/ Conferences Youth Entrepreneurship Summits/ Conferences

(Zonal, national, regional and continental)(Zonal, national, regional and continental) Resource mobilization, expanded business Resource mobilization, expanded business

opportunities etc for young African opportunities etc for young African entrepreneursentrepreneurs

Students Entrepreneurship Program (STEP)Students Entrepreneurship Program (STEP)

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FINAL WORDFINAL WORD

To realise the dream of an African Renaissance, To realise the dream of an African Renaissance, the entrepreneurial energies of young Africans, the entrepreneurial energies of young Africans, should be harnessed to contribute towards should be harnessed to contribute towards economic development, job creation and the economic development, job creation and the alleviation of povertyalleviation of poverty

Barack Obama in Ghana (2009): Barack Obama in Ghana (2009): “The 21st “The 21st century will be shaped by what happens not just century will be shaped by what happens not just in Rome or Moscow or Washington, but by what in Rome or Moscow or Washington, but by what happens in Accra, as well.”happens in Accra, as well.”

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HAPPY PARTNERSHIP WITH HAPPY PARTNERSHIP WITH PROJECT “P.A.Y.E.D.” !!!PROJECT “P.A.Y.E.D.” !!!

THANK YOUTHANK YOU

Emmanuel AchaEmmanuel AchaExecutive Director,Executive Director,

Entrepreneurship Initiative for African YouthEntrepreneurship Initiative for African Youth

wwww.youthenterpriseafrica.orgwwww.youthenterpriseafrica.org

info@youthenterpriseafrica.orginfo@youthenterpriseafrica.org

+234 803 375 1328+234 803 375 1328

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