The Mastercard Foundation has launched Young Africa Works in Ghana, to enable three million young people to access dignified and fulfilling work by 2030.
The initiative is in line with the government’s An Agenda for Jobs: Creating Prosperity and Equal Opportunity for All, and aims to help Ghana be a global entrepreneurship and technology hub.
According to Reeta Roy, Mastercard Foundation President and CEO, “We have listened to the aspirations of young people in Ghana and they are creative, resilient, and determined to contribute to the economic and social well-being of their country. Young Africa Works builds upon the country’s economic agenda and momentum to drive transformative change that will lead to improved livelihoods and prosperity.”
The Mastercard Foundation has made an initial USD200 million, five-year commitment to building a network of entrepreneurs and a digitally literate, innovative community of young people.
Young Africa Works is the Mastercard Foundation’s strategy to enable 30 million young Africans, 70 percent of whom will be young women, to access dignified and fulfilling work. Mastercard Foundation has done such initiatives earlier in 34 countries and now aims to deepen its engagement in 10 African countries.
Young Africa Works will support entrepreneurs, small and medium-sized businesses, and key growth sectors leading to greater productivity, job creation, and work opportunities for Ghana’s youth.
Ghana has more than 35 percent of the population aged 15-34 and youth unemployment at 12 percent, the Foundation will work closely with local partners to spur change that is critical for growth and job creation.