Youth unemployment across the African continent remains a persistent challenge. In Kenya, youth unemployment rates over the past 5 years have fluctuated between 20% and 23%, as per KNBS data. The most recent data available, as of 2024, indicates a youth unemployment rate of 22.8%, representing a slight increase from previous years. Despite efforts to address unemployment through various training initiatives, the absolute number of unemployed youths has remained consistently high, averaging around 2.4 million individuals within the 18 to 35 age group annually, according to KNBS. The question remains: where will the jobs of the future come from? How do we kickstart job growth and scale opportunities for youth? At the core, we know the answer lies in Africa’s digital transformation, and the role youth will play in that process.
As a result, the Innovation and Technology Pillar To catalyze Africa’s digital transformation by cultivating a generation of world-class tech professionals capable of driving innovation, creating scalable solutions, and contributing to sustainable development across the continent. The Pillar serves as a dynamic platform for innovators to gain the essential technical and entrepreneurial skills to take real world problem statements and prototype tech solutions that can have the promise to be commercialized and eventually create jobs at scale across industries. Aligned to the Africa Recovery and Resilience Plan, the Pillar aims to increase productivity across key sectors through the digitization of value chains in an effort to drive economic growth, and ultimately stimulate jobs growth. In leveraging technology to promote inclusive and sustainable development and foster innovation, the Pillar focuses on the following:
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Partner with Big Techs to offer on-demand curriculum and certifications to address skill mismatch to ensure fit-for-purpose recruitment into Group and ecosystem.
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Create an upwardly mobile tech talent pool by building structured mentorship programs that ensure each cohort of graduates helps pull up the next generation for continuous talent development.
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Expose talent to opportunities for placement across the Equity customer and partner ecosystem to support SME digitization.
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Build the premier partnerships platform for Equity to engage global actors working towards a shared goal of prosperity of the people of Africa.