AfDB target to create 25 million jobs for youth over the next decade

The African Development Bank (AfDB) has unveiled a bold plan to create 25 million jobs and impact 50 million youth over the next decade. Akinwumi Adesina, the President of the African Development Bank Group, recently launched the Presidential Youth Advisory Group to provide insights and innovative solutions for job creation for Africa's young population. Ada Osakwe, CEO of Agrolay Ventures and a member of the advisory group, discussed the strategies and initiatives in a recent interview on CNBC Africa. Adesina's vision encompasses improving the quality of life for Africans, with a special focus on empowering the youth through job creation and upskilling. The President aims to address the pressing issue of youth unemployment by engaging young people directly and leveraging their perspectives and ideas for effective solutions. The advisory group, predominantly comprising individuals under the age of 40, plays a crucial role in advocating for the AfDB's youth-focused initiatives and providing strategic recommendations to senior bank officials. Osakwe highlighted the three key pillars of the bank's strategy - integration, innovation, and investments - designed to tackle youth unemployment comprehensively. Under integration, efforts are focused on harmonizing various youth programs across governments, private sectors, and international organizations to ensure a coordinated approach towards employment generation. The innovation pillar emphasizes the importance of fostering creativity and implementing bold initiatives in sectors such as agriculture, ICT, and industrialization to equip youth with the necessary skills for future job opportunities. The investments pillar underscores the significance of providing financial support and resources to enable young people to thrive in the workforce. Capacity building emerges as a critical aspect of the youth employment strategy, with a key emphasis on preparing youth for the jobs of the future. Osakwe stressed the need to equip young individuals with relevant skills in areas like artificial intelligence, coding, and robotics to meet the demands of a rapidly evolving job market. Additionally, the AfDB is committed to enhancing employability through skills enhancement zones and tailored training programs aimed at bridging the gap between youth and corporate institutions. The bank's initiatives also encompass supporting entrepreneurship through incubator centers and accelerator programs, providing aspiring young entrepreneurs with the necessary tools and guidance to scale up their ventures. By prioritizing capacity building and skill development, the AfDB seeks to create a conducive environment for youth empowerment and sustainable job creation. As Africa's youth continue to grapple with high unemployment rates, the AfDB's ambitious plan holds promise for unlocking their potential and driving socio-economic growth across the continent.