The Mastercard Foundation Strategy to Promote and Expand Employment Opportunities for Young People in Africa
The Youth Employment Challenge Africa is the youngest and fastest-growing continent in the world. By 2030, there will be 375 million young people in the job market in Africa. Within a few decades, this demographic boom will push Africa’s workforce to more than a billion people, the largest in the world. While economic growth in many countries has been strong over the last 10 years, it has come with relatively few employment opportunities. According to the International Labour Organization, almost 80 percent of people in Africa work informally. Recent research undertaken by our Foundation in two countries in Africa found that among young people, very few had access to formal employment and most struggled to make a decent salary to live. When young people can secure formal work and a steady wage, their lives improve. Employment, particularly formal employment, is a leading pathway out of poverty for families. In Africa, the world’s youngest continent, youth em...