Africa is the youngest and fastest-growing continent in the world. According to the IMF, population growth on the continent means that, by 2035, there will be more young Africans entering the workforce each year than in the rest of the world combined. Properly harnessed, this young growing working-age population can drive Africa’s economic transformation.
However, this opportunity could also pass Africa by. Currently the majority of youth do not have secure work or economic futures. Of the 420 million youth aged between 15 and 35 in Africa today, the majority are unemployed, have insecure jobs or are in casual employment. The consequence of this translates into a failure to capitalise on one of the continent’s greatest assets for growth – its large growing population of talented young people.
On a continent where over 50% of Africans do not have access to electricity, not only is there a huge opportunity to develop energy projects for employment, but also to harness that energy for economic development.