How can we harness the potential of the African youth to create a brighter and more prosperous future for the continent and the world? This is the question that many leaders, entrepreneurs, and innovators are asking themselves as they witness the remarkable growth and dynamism of the young generation in Africa.

According to the United Nations, Africa is home to more than 1.3 billion people, of which about 60% are under the age of 25. This makes Africa the youngest continent in the world, and also the fastest growing one. By 2050, Africa’s population is projected to double, reaching 2.5 billion people, and accounting for a quarter of the world’s population.

This demographic dividend offers a unique opportunity for Africa to transform its economy, society, and environment, and to play a leading role in the global arena. However, this opportunity also comes with significant challenges, such as poverty, inequality, unemployment, conflict, climate change, and health crises.

To overcome these challenges and unleash the full potential of the African youth, we need to invest in their education, skills, health, and well-being, and provide them with access to opportunities, resources, and networks.

One of the most promising ways to do this is through entrepreneurship and innovation. Entrepreneurship is not only a means of creating wealth and jobs, but also a way of solving problems, addressing needs, and improving lives.

Innovation is not only a source of competitive advantage and growth, but also a driver of social change and environmental sustainability. Together, entrepreneurship and innovation can empower the African youth to become agents of positive change in their communities and beyond.

There are many examples of successful young entrepreneurs and innovators in Africa who are making a difference in various sectors, such as agriculture, energy, health, education, fintech, e-commerce, and media.

Some of them have received global recognition and support from prestigious platforms and organizations, such as the Forbes Africa 30 Under 30 list, the Anzisha Prize, the Tony Elumelu Foundation, the YALI Network, and the Obama Foundation.

Here are some of their stories:

Divine Ndhlukula is the founder and managing director of SECURICO, one of Zimbabwe’s largest security companies. She started her business in 1998 with only four employees and $4,000 in savings. Today, she employs over 3,500 people, 900 of whom are women. She has won several awards for her entrepreneurship and leadership skills, including the Africa Awards for Entrepreneurship and the Legatum Africa Awards.

William Kamkwamba is a Malawian inventor and engineer who built a windmill from scrap materials when he was 14 years old. He used the windmill to power his family’s home and later built more windmills to pump water for irrigation.

He has written a book about his experience called The Boy Who Harnessed the Wind and has given a TED talk that has been viewed over 10 million times. He has also co-founded an innovation center in Malawi called Wimbe Community Innovation Center.

Temie Giwa-Tubosun is a Nigerian American entrepreneur and health advocate who founded LifeBank, a medical distribution company that delivers blood and oxygen to hospitals in Nigeria using technology and logistics. She launched her venture in 2016 after witnessing the high maternal mortality rate in Nigeria due to blood shortages.

She has saved over 10,000 lives through her service and has expanded to Kenya and Ethiopia. She has received several accolades for her work, including the Jack Ma Foundation Africa Netpreneur Prize and the Global Citizen Prize for Business Leader.

Kelvin Doe is a Sierra Leonean inventor and engineer who built his own radio station from recycled materials when he was 15 years old. He used his radio station to broadcast news and music to his community under the name DJ Focus. He has also created batteries, generators, and transmitters from scrap metal.

He became the youngest person ever to participate in the MIT Visiting Practitioner’s Program and has spoken at TEDx Teen and Google Zeitgeist. He has also founded an innovation hub in Sierra Leone called Innovate Salone.

Rapelang Rabana is a South African entrepreneur and computer scientist who founded Rekindle Learning, an online learning platform that uses artificial intelligence and data analytics to personalize learning experiences for students and professionals.

She started her venture in 2013 after co-founding Yeigo Communications, one of Africa’s first mobile VoIP applications. She has been named as one of Forbes Africa’s 30 Under 30 Best Young Entrepreneurs and one of BBC’s 100 Women.

These young leaders are inspiring millions of other young Africans to follow their footsteps and pursue their dreams. They are also creating a vibrant ecosystem of mentors, peers, investors, partners, and customers that supports and enables their ventures. They are showing the world that African youth are not just consumers or beneficiaries of development, but also creators and contributors of value.

The future of Africa and the world depends on the success of these young entrepreneurs and innovators. They are the ones who will shape the next wave of economic development, social progress, and environmental stewardship. They are the ones who will bridge the gap between Africa and the rest of the world. They are the ones who will prove that African youth plus opportunity equals an unstoppable global future.

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It looks very challenging with many reports thundering on the escalating poverty in Nigeria: “Multinational professional services brand of firms, PricewaterhouseCoopers International Limited (PwC), in its recent report, has forecasted Nigeria’s poverty rate to reach 38.8% in 2024.” Yet, this should not be the end of the story. Nigeria has great tools to quickly move out of this economic stasis and visioning miry clay.

The new invention of transferring money to some poor families is very strange to me. The last administration started it, and I was expecting that to be discontinued by the new government. Unfortunately, that has been sustained. What would N20,000 or whatever do to a family of six in a month?

My recommendation when Buhari introduced it is to use the funds and structure a partnership with community development unions. Michael Okpara, ex-premier of Eastern Nigeria, used that model to advance massive transformation in the region. Those rural communities can administer these funds better than bureaucrats through a consultative process which will deliver agro support with silos, farm seeds, trading, etc.

Randomly picking 500 people in a community of 5,000 for N20k transfer does not look fair and sustainable. But building mini-catalysts for those 5,000 rural people may unlock opportunities for all. And if you support those 5,000 people to do those things by themselves, as Okpara did, you will see a better outcome. Yes, poverty will likely drop in a sustained way. Check the records of our first generation leaders, they built through communities because power was localized; today, we do not even consult and that must change.

(Statistically, most rural poor citizens are farmers. If they have access to coldroom or better access to market, you can help them. The cash transfer if managed by the community unions can provide catalysts over random lottery)

Summary:

Ndubuisi advocates against individual cash transfers in addressing p??verty in Nigeria, proposing instead a model where funds are transferred to community development unions to invest in mini-catalysts, fostering rural development for a more sustainable impact.

— Summarize (@summarizest) January 26, 2024

Imagine a fund for rural communities. To unlock this fund, communities, send proposals on local economic plans and we will contribute 90% of your budget. NO cash transfers to individuals; YES fund transfer to community development unions to invest in mini-catalysts to lift rural people.

Nigeria Poverty Rate to Reach 38.8% in 2024 – PwC Report