Young Africa Works in Ethiopia is aligned with the Ethiopian government’s plan to create new jobs to spur economic growth and was designed in partnership with the government, the private sector, academic institutions, and young people.
Mastercard Foundation will work with JCC to create programs to catalyze growth in the tourism, agriculture, manufacturing, and ICT sectors. Programs will support entrepreneurs and small and medium-sized businesses to achieve greater productivity and expand income-generating opportunities.
‘Ethiopia’s prosperity will be achieved when we individually achieve our full potential first. Creating jobs for all, particularly, youth and women, is about giving people hope, dignity and the means to build this prosperous future,” says Dr. Ephrem T. Lemango, Commissioner, Jobs Creation Commission.
The Foundation announced its first phase of implementing partners, including the International Centre for Insect Physiology and Ecology (icipe), Kifiya Financial Technology, First Consult PLC and DAI Europe, Dalberg, Ministry of Innovation and Technology, and SNV. The cumulative value of the first phase of partnerships is over
Dr. Ephrem T. Lemango, Commissioner, Jobs Creation Commission, Reeta Roy, Mastercard Foundation President and CEO, and Alemayehu Konde Koira, Country Head Ethiopia, Mastercard Foundation celebrate the announcement of Young Africa Works in Ethiopia. This initiative aims to see 10 million young Ethiopians access dignified and fulfilling work opportunities by 2030. Mastercard Foundation has committed an initial USD 300 million to the initiative.
“Through my travel across Ethiopia, I’m inspired by the creativity and dynamism of young entrepreneurs and how their innovations are bringing about meaningful change in their communities,” says Reeta Roy, Mastercard Foundation President and CEO. “Young Africa Works will support them by providing access to finance, business development support and skills development so they can further scale their businesses to create more jobs for young Ethiopians.”
Learning from its work in 34 countries on the continent, including Ethiopia, over the past decade, the Foundation will deepen its engagement in 10 African countries. Ethiopia is a priority country because of the government’s commitment to reform the policy and regulatory environment to encourage the development of the private sector and attract foreign investment. Since 2009, the Mastercard Foundation has committed more than USD62 million to advance financial inclusion, education, and youth livelihoods.
Editor’s Notes
Young Africa Works in Ethiopia will focus on the following priorities:
The Federal Democratic Republic of Ethiopia Jobs Creation Commission is a new public institution established under the Office of the Prime Minister to advance the government’s goal around employment and job creation. It is positioned to lead, govern and coordinate the jobs creation agenda at the national and subnational levels. In doing so, it guides the interventions of government, the private sector and development partners to high-growth sectors through policy analysis, innovation and market-oriented skill development.
The Jobs Creation Commission works specifically on identifying and designing new job creation opportunities; building a coordination-platform for all job creation initiatives in Ethiopia; developing and implementing sectorial jobs strategies; and formulating and adopting policies that favour job creation, private sector development, and the bridging of skill mismatch in the Ethiopian labour market.
About the Mastercard Foundation
The Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. The Foundation’s work is guided by its mission to advance learning and promote financial inclusion for people living in poverty. One of the largest foundations in the world, it works almost exclusively in Africa. It was created in 2006 by Mastercard International and operates independently under the governance of its own Board of Directors. The Foundation is based in Toronto, Canada. For more information and to sign up for updates from the Foundation, please visit www.mastercardfdn.org. Follow the Foundation @MastercardFdn on Twitter.