The African Export-Import Bank has intensified the push for more empowerment opportunities for youths in Africa, insisting that the future and relevance of the continent in global socio-economic discussions lies in its youths.
Benedict Okey Oramah, President of the Bank, stated this at the 5th edition of the youth summit organised by Grand Africa Initiative, a pan-African non-governmental organisation, in Abuja on the theme “Connecting Africa through Youth Entrepreneurship and Digital Innovation”.
A statement by the bank said youth representatives from 91 countries, officials of federal and state governments, development partners, notably, the Development Bank of Africa, Afreximbank, and several others participated in the summit.
Oramah said Africa is home to the youngest and fastest-growing population in the world, with more than 60 per cent of the continent’s population under the age of 25.
“This vibrant and dynamic youth population represents not only a challenge but also an immense opportunity for growth, innovation, and transformation across the continent.
“The youths of Africa are increasingly becoming the driving force of economic and social change. Their energy, creativity, and resilience are leading the charge in reimagining what is possible for the future of our nations.
“Yet, while this youth population holds immense potential, they often face significant challenges which include limited access to education and skills training, a lack of job opportunities, and barriers to entrepreneurship,” he stated.
The financial institution’s boss added, “With our youth population projected to double by 2050, young people are the driving force behind what we see today as Africa’s economic transformation. Our youths are creative, resourceful, energetic, innovative, and resilient.
“A recent empirical survey of 4,507 young Africans from 15 countries shows that 78 per cent of young Africans between the ages of 18 and 24 plan to start businesses within the next five years.
“ They need the necessary knowledge, mentorship, and support, particularly digital infrastructure to enable them to succeed.”
The Kenyan High Commissioner to Nigeria, Ambassador Isaac Parashina, in his keynote address, also highlighted the fact that Africa is home to approximately 1.4 billion people, and is regarded as the youngest continent in the world.
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