President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has urged African countries to prioritise youth empowerment through quality education, digital skills, and entrepreneurship to address the root causes of migration.
In a statement issued on Sunday in Abuja, Adesina warned that increasing anti-immigration sentiment in Europe and the United States posed serious consequences for Africa, especially given its rapidly growing population.
“By 2050, one in every four people in the world will be African,” he said. “Africa’s population will reach 2.4 billion, with more than 75 per cent under the age of 35. We cannot afford for this demographic boom to become a global liability.”
Adesina said African nations must take full responsibility for their youthful populations by creating conducive environments that foster growth within the continent.
“The solution begins with globally competitive, high-quality education,” he noted.
Currently, only 43 per cent of African youth complete secondary education, compared to 98.9 per cent in Japan. At the tertiary level, the disparity is even wider—Africa has just 10 per cent enrolment, while Japan records 60 per cent.
To address these gaps, the AfDB, in partnership with the African Union, is launching a $300 million African Education, Science and Technology Innovation Fund. This will be complemented by investments in science and technology universities across the continent.
He further disclosed that the AfDB’s Skills for Employability and Productivity in Africa programme had already secured $682 million in approvals by March 2024, with an additional $809 million earmarked for 2024–2025.
“Digital skills are crucial in the Fourth Industrial Revolution,” Adesina said. He noted that the AfDB’s Coding for Employment programme aims to establish 130 digital skills centres across Africa. Over one million youths have already been trained through partnerships, including with Microsoft Philanthropies.
Addressing the education-labour market mismatch, Adesina highlighted that while 15 million young people enter Africa’s labour market each year, only 3 million jobs are available—leaving a gap of 12 million.
“The future lies in turning job seekers into job creators,” he said.
According to him, Africa has the highest global rate of entrepreneurship, with 22 per cent of the working population involved in startups, particularly in agriculture, retail, and technology.
He added that Africa’s digital economy was projected to contribute $180 billion to GDP by 2025, and as much as $712 billion by 2050. Over 600 startup hubs are currently active, with Nigeria, Kenya, Egypt, and South Africa leading innovation across the continent.
Adesina also highlighted the rapid growth of the fintech sector, driven by the continent’s large unbanked population, with its value expected to surge from $13 billion in 2023 to $200 billion by 2050.
“Connectivity is accelerating this growth, with smartphone penetration forecast to reach 67 per cent by 2025—empowering millions of youths to access micro-credentials and online training via platforms like Coursera,” he said.
To support youth innovation and entrepreneurship, the AfDB has approved $100 million for the Nigerian branch of its Youth Entrepreneurship Investment Banks initiative.
He also cited the I-DICE (Investment in Digital and Creative Enterprises) programme—a $614 million initiative backed by partners such as the Islamic Development Bank, Agence Française de Développement, and Nigeria’s Bank of Industry. The programme aims to create over six million jobs and contribute $6.4 billion to Nigeria’s economy.
“By investing in its youth, Africa can transform population growth into a powerful economic asset—not a burden,” Adesina concluded.
