Africa is one of the world’s fastest-developing economies. Furthermore, its population is young and expanding. Despite such an enticing climate, the economy suffers from a substantial talent drain. Young graduates, either during or after their education, frequently leave Africa and relocate to other regions, never returning. This has raised significant concerns about Africa’s economic future. The majority of research indicates that a lack of young entrepreneurial initiatives is the root cause of the talent exodus.
Grants and programs to support African youth entrepreneurs have increased. However, it is critical to ensure that this money is spent as efficiently as possible. Governments and NGOs should focus
There has been an increase in scholarships and programs to support African youth entrepreneurship. However, it is critical to ensure that this money is spent as effectively as possible. To achieve this, governments and non-governmental organizations (NGOs) should concentrate on critical areas. Abanaverse is a major organization that promotes youth entrepreneurship. Through their African Unicorn Summit, they help to empower Kenyan youth in the following ways:
Mentorship
Kenyan youngsters are known for their creativity and hard work. Most of them were born and raised in impoverished situations, and they do not allow excellent opportunities to pass them by. Although their hard work is undeniable, a helping hand in the proper direction is critical for the success of any organization. This is why Kenyan teenagers want industry experts to help them navigate the business world.
Masterclasses
In addition to mentorship, masterclasses should be provided to Kenyan youth. Experience is everything in business. With the availability of master courses, Kenyan youth can share their experiences with industry leaders and gain confidence. This will encourage more young people to pursue entrepreneurship rather than traditional employment.
Financial and business management
Financial management has been connected to the majority of big business successes and failures in every industry. With such a significant impact on the success or failure of a firm, you’d think that most young people are financially savvy. Most Kenyan entrepreneurs seize chances without sufficient financial planning. As a result of insufficient funding, many Kenyan start-ups have a very short lifespan. Many of these enterprises may still be in operation if they had received proper financial education and training.
Community engagement
Kenyan youth’s decisions are heavily influenced by the community in which they grow up. If the community is educated to assist youngsters in their business activities, it will enhance their confidence. The community would also serve to develop Kenyan youth with innovative and creative ideas, propelling them into business. Communities are a source of strength and inspiration, and involving them in the youth entrepreneurship journey will help them succeed.
African youth require more than financial assistance to succeed in entrepreneurship. This is where the Africa Unicorn Summit comes in. It was started with the sole purpose of equipping budding entrepreneurs with business skills. So, what are you waiting for? Grab a TICKET now!
