The role of Africa’s youth in continental development

The youth Connect summit provided a platform for over 2500 youth from all over the continent to come together to find solutions and discuss their role in developing Africa. Joycee Awosika, Managing Director of Oriki Group, spoke with CNBC Africa's Fiona Muthoni on the importance of empowering the youth and the challenges they face in playing their expected role. Awosika emphasized the significance of investing in the youth, stating that they hold the key to either a demographic dividend or disaster. She highlighted the need for resources to be allocated towards supporting youth initiatives such as access to capital, professional building, and business development. Awosika shared her journey into entrepreneurship, attributing her passion for creating sustainable economies to her upbringing. She moved to Nigeria six years ago and saw an opportunity to leverage the continent's natural resources by creating a product line that empowered local communities. Oriki Group focuses on sourcing ingredients ethically and supporting local farmers and processors, thereby contributing to economic empowerment at a grassroots level. However, Awosika acknowledged the challenges that many youth face, particularly issues related to lack of capital and bureaucratic hurdles. She encouraged young entrepreneurs to be persistent, vocal, and seek clarification when faced with obstacles. She highlighted the importance of speaking up against unfair taxation practices and engaging with relevant government agencies to address regulatory barriers. When questioned about the government's role in fostering a conducive environment for youth development, Awosika recognized that progress has been made in certain areas but emphasized that there is still room for improvement. In Nigeria, she noted that while there have been initiatives to streamline business incorporation processes and reduce fees, challenges such as unclear tax structures persist. She called for a collaborative effort between the public and private sectors to enhance support mechanisms for entrepreneurs, including offering grants and accessible loans with favorable interest rates. The conversation underscored the critical role that the youth play in driving continental development and the importance of creating an enabling environment that empowers them to realize their potential. As Africa's population continues to skew younger, investing in youth-driven innovation and entrepreneurship becomes imperative for sustainable economic growth.