Africa is a continent with immense potential for economic growth and sustainability. With a young and vibrant population, Africa's youth hold the key to unlocking this potential. In the face of adversity, African youth have proven time and time again that they possess the tools, resilience, and determination to transform their communities and pave the way for a brighter future. We explore the ways in which we can harness their talents and unleash their potential, allowing them to become the driving force behind economic growth and sustainability.

Investing in young African entrepreneurs is emerging as a key strategy to secure Africa's future, particularly its development and economy. According to the African Development Bank, entrepreneurship is the key to unlocking the continent's economic potential and creating new jobs.

In South Africa, small and medium-sized enterprises (SMEs) account for around 91% of formalised businesses, according to the Small Enterprise Finance Agency. These SMEs are responsible for creating around 60% of the country's jobs. In Zimbabwe, SMEs contribute around 60% to the country's gross domestic product (GDP), according to the Zimbabwe Investment Authority. In Kenya, SMEs contribute around 33% to the country's GDP, according to the Kenya National Bureau of Statistics.

Nigeria, the largest economy in Africa, has seen a significant rise in entrepreneurship in recent years. According to the Global Entrepreneurship Monitor, around 35% of adults in Nigeria are involved in early-stage entrepreneurial activity, which is one of the highest rates in the world.

In Rwanda, the government has launched several initiatives to support entrepreneurship, including the Rwanda Innovation Fund, which provides funding and support for young entrepreneurs. Ethiopia, one of the fastest-growing economies in Africa, has also seen an increase in entrepreneurship. According to the country's Investment Commission, the number of registered SMEs in Ethiopia has grown by an average of 20% per year over the past decade. Small and medium-sized enterprises (SMEs) account for more than 80% of all businesses in Africa and create the majority of new jobs.

Despite these opportunities, access to finance remains a major barrier for entrepreneurs in Africa. According to a report by the International Finance Corporation (IFC), more than half of SMEs in Africa do not have access to formal credit. By investing in entrepreneurship and creating new jobs, young people can be empowered to become job creators rather than job seekers.

To support young entrepreneurs in Africa, governments and private sector organisations are implementing a range of initiatives. For example, the Tony Elumelu Foundation Entrepreneurship Programme provides funding and support to entrepreneurs across Africa. In 2021, the programme received over 200,000 applications from entrepreneurs in 54 African countries. The African Development Bank has launched the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, which provides funding and support for young entrepreneurs.

Despite the progress made in supporting young entrepreneurs, there are still significant challenges that need to be addressed, particularly access to funding and training. According to the United Nations, Africa's population is expected to double by 2050, with 60% of the population under the age of 25. Therefore, as exemplified in countries such as South Africa, Zimbabwe, Kenya, Nigeria, Rwanda, and Ethiopia, entrepreneurship is a powerful tool for driving economic growth and creating new jobs in Africa.

In conclusion, investing in and empowering young African entrepreneurs is a crucial strategy for securing Africa's future in terms of development and economy. Governments and companies must continue to support young entrepreneurs through funding, training, and mentorship programmes to ensure that they have the resources they need to succeed. With the right support and investment, young African entrepreneurs have the potential to make a significant impact on the continent's future.