The African Development Bank (AfDB) and
Seedstars World, a Swiss-based start-up in emerging markets, have
announced a strategic partnership to
implement innovative ‘job creation
track’ model to support youth employment and entrepreneurship in Africa.The partnership is in line with the Bank’s entrepreneurship and innovation lab under its Jobs for Youth in Africa (JfYA) strategy.
The Bank in a statement on its website said the aim of the initiative was to create 25 million jobs and equip 50 million young people with skills to enhance their employability and entrepreneurial success by 2025.
It said the strategy would support
countries to stimulate entrepreneurship, youth employment and economic
development with a focus on young women.
The Coordinator, Jobs for Youth in
Africa, Tapera Muzira, said: “This is a spectacular initiative which
will jump-start Africa’s encouragement of youth involvement in business
enterprise and job creation. This partnership between the Bank and
Seedstars World is an electrifying component of the Bank’s continuing
commitment to sustainable job creation for women and young people across
the continent.”
Seedstars is a Swiss-based private group
of companies with a mission to impact people’s lives in emerging
markets through technology and entrepreneurship. The group’s activities
cover over 80 emerging ecosystems in a variety of events such as the
Seedstars World Competition, acceleration programs, physical hubs called
Seedspace, venture capital investments and company building activities.
However, African Development Bank will
select and award the startup demonstrating the most potential for
sustainable job creation with three months’ access to the Seedstars
investment readiness program.
The Bank would also be the main partner
for the remaining local bootcamps, as well as a two-day private bootcamp
during the Seedstars Africa Summit on 2-5 December, 2019 with an
emphasis on improving gender balance across all activities.
As a catalyst for the best business and investment opportunities in
the region, the Summit will bring together its network of startups,
investors, mentors, ambassadors, partners and over 300 key stakeholders
across the continent.
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