Tackling Youth Unemployment in Africa
A third of Africa’s 420 million youth (15 – 35 years) are unemployed, while another third can only find vulnerable employment. Every year another 12 million young Africans join the job market. Yet, the continent only creates 3.1 million new jobs per year.
GroFin and the Challenge Fund for Youth Employment (CFYE), managed by Palladium on behalf of the Dutch Ministry of Foreign Affairs, have co-created the YouthAtWork ([email protected]) Fund to provide 25,000 African youth access to a decent job by investing in small and growing businesses (SGBs).
CFYE has committed EUR 10m to the YouthAtWork Fund and up to EUR1m technical assistance funding.