The president of the African Development Bank (AfDB), Dr Akinwumi Adesina, says African nations must focus on creating opportunities for their youth through education, digital skills and entrepreneurship to tackle the root causes of migration.
In a statement on Sunday in Abuja, Adesina noted that rising anti-immigration sentiments in Europe and the United States had serious implications for Africa, particularly as the continent’s population continued to grow rapidly.
“By 2050, one in every four people in the world will be African,” he said.
“Africa’s population will surge to 2.4 billion, with more than 75 percent under the age of 35. We cannot afford for this demographic boom to become a global liability.”
He therefore said that Africa must take responsibility for its growing youth population by creating enabling environments for them to thrive within the continent, rather than relying on the rest of the world to absorb them.
“The solution begins with globally competitive, quality education,” Adesina said.
“Currently, only 43 percent of African youth complete secondary education, compared to 98.9 percent in Japan.
“In higher education, the gap is even wider, with just 10 percent enrollment in Africa versus 60 percent in Japan,” he lamented.
According to Adesina, the AfDB, in collaboration with the African Union, is establishing a $300 million African Education, Science and Technology Innovation Fund to address these disparities.
“This initiative will be supported alongside investments in science and technology universities across the continent.”
He also noted that the AfDB’s skills for employability and productivity in Africa programme, had received $682 million in approvals as of March 2024, with an additional $809 million planned for 2024/2025.
“Digital skills are key in the Fourth Industrial Revolution,” Adesina said, noting that the AfDB’s coding for employment programme would establish 130 digital skills centres across Africa.
“Over one million youth have already been trained through partnerships, including with Microsoft Philanthropies.”
Addressing the mismatch between education and labour market demands, Adesina pointed out that while 15 million youth entered Africa’s labour market each year, only three million jobs were available, leaving a gap of 12 million.
“The future lies in turning job seekers into job creators.
“Africa leads the world in entrepreneurship, with 22 percent of the working population engaged in startups, especially in agriculture, retail, and tech,” he said.
Adesina added that Africa’s digital economy was projected to contribute $180 billion to Gross Domestic Products by 2025 and up to $712 billion by 2050.
“Over 600 startup hubs are currently active, with Nigeria, Kenya, Egypt, and South Africa leading innovation on the continent.”
He noted the exponential growth of the fintech sector, driven by Africa’s large unbanked population.
“The sector’s value is expected to grow from $13 billion in 2023 to as much as $200 billion by 2050,” he said.
“Connectivity is accelerating this transformation, with smartphone penetration projected to reach 67 percent by 2025, enabling millions of youth to access micro-credentials and training via platforms like Coursera.”
To support youth innovation and entrepreneurship, Adesina recalled the establishment of Youth Entrepreneurship Investment Banks, with the AfDB approving $100 million for the Nigerian branch.
He also reiterated the significance of the I-DICE (Investment in Digital and Creative Enterprises) programme.
A $614 million initiative supporting Nigeria’s digital and creative industries, backed by partners including the Islamic Development Bank, Agence Française de Développement and the Bank of Industry.
“The programme aims to generate over six million jobs and contribute $6.4 billion to Nigeria’s economy,” he said.
“By investing in its youth, Africa can turn its population growth into an economic asset—not a liability,” he added.
