LEAP Africa has urged for heightened investment, more robust policy structures, and enhanced cooperation between governments and the private sector to boost the development of youth-led businesses and unleash Africa’s economic capabilities.
The call was launched as the organization assembled more than 200 young social entrepreneurs, investors, policymakers, and business executives for the 13th edition of its Social Innovators Programme and Awards, which took place in Lagos.
Titled ‘Africa as the Sector: Enhancing Youth Agency for a Thriving Africa – Utilizing Technology, Finance and Policy,’ the event addressed the systemic obstacles hindering the advancement of innovative businesses throughout the continent, while connecting young entrepreneurs with funding, collaborations, and market prospects.
Highlighting that the youth population in Africa is expected to surpass 830 million by 2050, the organization emphasized the importance of creating a supportive environment that allows young people to transform innovative ideas into enduring businesses, employment opportunities, and lasting economic value.
During the event, Mrs. Kehinde Ayeni, the Executive Director of LEAP Africa, encouraged stakeholders to reconsider the role of youth entrepreneurship in Africa’s economic growth strategy.
“For an extended period, discussions regarding Africa’s youth have concentrated on their potential instead of the economic contributions they are presently making.”
Throughout the continent, emerging entrepreneurs are establishing enterprises that tackle genuine market and development issues. “However, the extent to which these solutions can succeed still relies on access to finance, markets, and supportive policies,” she stated.
She remarked: “At SIPA, we are urging investors, policymakers, and business leaders to reconsider how we assist youth-led enterprises, viewing them not just as recipients of development efforts, but as ventures that can propel Africa’s economic progress.”
During her keynote speech, Rosy Fynn, Country Director for Nigeria at Mastercard Foundation, remarked: “Our success will rely not just on the number of young individuals we possess but on the influence they wield to take action.” Funding should be structured according to the actual situations of the individuals it aims to assist.
It is not a universal solution. A conducive policy framework can enable the business to flourish. We must work together and identify synergies instead of operating in isolation.
On the same topic, Clare Omatseye, Founder/Managing Director of JNC International and Chair of LEAP Africa Board, emphasized that aiding social enterprises involves more than just seed funding, highlighting the importance of robust institutional frameworks, sustainable financing approaches, and policies that facilitate business competition and growth.
The prospects for Africa’s economy will heavily rely on our capacity to establish a setting that enables young individuals to generate value, create jobs, and develop sustainable enterprises. This demands more than just financing separate concepts. “It requires more robust institutions, purposeful collaborations, and policies that render innovation both commercially feasible and socially significant,” she stated.
