Adesina says youth unemployment, poverty is fueling insecurity in Africa – Nigeria – Headline News – News from Nigeria and the world
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African Development Bank (AfDB) President Akinwumi Adesina pointed out that youth unemployment and poverty are factors driving insecurity and migration on the continent.
Adesina made the remarks in a statement released by the bank on Friday at a diplomatic lunch he hosted for ambassadors in Abidjan, Ivory Coast.
He said: “Youth unemployment and poverty are factors that cause not only immigration but also security insecurity.
“AfDB is addressing this issue through its employment strategy for African youth.
“I do not believe that the future of African youth lies in Europe, America, Latin America, Asia or anywhere else in the world.
“Their future should be in an Africa that can grow inclusively and provide quality jobs and livelihoods for young people,” Adesina said.
He said Africa's demographic assets, with 477 million young people under the age of 35, should not become a global externality.
He said the bank's Africa Youth Employment Strategy aims to create 25 million jobs and provide skills to 50 million young people.
“I am pleased that AfDB's Independent Development and Evaluation Unit has found that the Bank's efforts have already created 12 million jobs, including 3 million directly and 9 million indirectly.
“The Bank is implementing several initiatives to expand economic opportunities and skills development for young people.
“This includes technical and vocational training, computer coding for employment, as well as youth development programs in agriculture to develop food and agriculture entrepreneurs,” he said.
Mr. Adesina said AfDB's Enabling Youth Program, funded with $490 million, has already trained 41,000 youth entrepreneurs in agriculture and created more than 63,000 direct jobs. He said that
He said: “Our Coding for Employment program is currently running in four countries and we have established 130 coding centers of excellence across the continent to improve the digital skills of young people.
“Affirmative Finance Action for Women, with its goal of mobilizing $5 billion for women's businesses, has been a huge success.
“By the end of last year, $1.5 billion in loans to women entrepreneurs had been approved.”
He said one of the bank's key tasks is to improve the lives and livelihoods of people in Africa.
He said the Bank's Board of Directors had also endorsed the bank's strategy for quality health infrastructure to address the continent's health infrastructure deficit.
He said the bank would provide $3 billion to finance the continent's health infrastructure over the next 10 years.
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Source: guardian.ng