Youth unemployment is a critical concern in Africa: No jobs for 50% of graduates
According to the World Bank, 41% of Sub- Saharan Africans live in extreme poverty. The majority of the 420 million youth aged between 15 to 35, are unemployed or with vulnerable jobs. While the Africa is endowed with tremendous natural resources its citizens have not been able to transform it into opportunities generating for its citizens. A weak social entrepreneur support ecosystem has also been identified as one of the constraints to entrepreneurs’ growth. However, Bunifu believes this adversity also brings great opportunity.
High unemployment rates have left many motivated, connected young people looking for ways to build a better, brighter future for their communities. Couple this with the dramatic improvement in the Ease of Doing Business Ranking (EDBR), continuing tax reform and increased school completion rates, and it is clear that the youth is poised to play an important role in the economic revival of the African continent.
However, growing evidence suggests most young people lack the “hard” and “soft” skills to succeed as employees or entrepreneurs given the low quality of education being supplied by the educational institutions. The 3 key barriers to them reaching their potential are a lack of relevant and effective entrepreneurship training programs, skills mismatch, and startup investment. That’s where the Bunifu solution comes in!
The Bunifu Innovative model is comprised of: