Over the past 50 years the supply of skilled labour has risen in emerging markets, but unfortunately there aren’t enough jobs to match the demand. The consequences of this is unemployment and underemployment - where people don’t have enough paid work or are not doing work that makes full use of their skills and abilities. More than 29 per cent of employed young people around the world live in either extreme or moderate poverty.
These issues are acute in emerging markets, where micro, small, and medium-sized enterprises (MSMEs) contribute the vast majority of GDP but typically lack the resources of larger counterparts to invest in youth employment.
This is to MSMEs detriment, as they can lose opportunities to improve and grow. They can become stuck in a cycle of inefficiency and forego the innovation that comes with hiring recently educated employees.
To position and equip young people with skills and opportunities to create economic and employment changes across the economy.
The Youth to Work Program The Youth to Work Program, a flagship initiative of Futuremakers by Standard Chartered, delivered by Challenges Worldwide, aimed at addressing inequality and enhancing economic inclusion for young individuals across local communities. Focused on Entrepreneurship, Employability, and Education, this program operates across Uganda, Zambia, and Ghana.
The Youth to Work program has proven its transformative power by nurturing skilled individuals, fostering business growth, and promoting economic inclusion.
Below shows the impact created by the Youth to Work program in Ghana, Uganda and Zambia.
Ghana
- 133 enterprises supported with business development services
- 216 young people placed within SMEs to provide business development support
- 80 jobs created by supported MSMEs.
- 4563 Youth have received employability and entrepreneurship training.
Uganda
- 188 enterprises supported with business development services
- 250 young people placed within SMEs to provide business development support
- 153 jobs created by supported MSMEs.
- 5014 Youth have received employability and entrepreneurship training.
Zambia
- 126 enterprises supported with business development services
- 211 young people placed within SMEs to provide business development support
- 51 jobs created by supported MSMEs.
- 3803 Youth have received employability and entrepreneurship training.
By Challenges Group bringing together Junior Associates (Youth to Work participants) and SMEs from various industries, including clean energy, technology, agriculture, and others, the Youth to Work Program has emerged as a catalyst for change. Young people are empowered to use their skills to create an impact either through employment or through running their own enterprise.
SMEs as a result of the programme experienced the benefit of having a skilled young person in their organisation. This resulted in new roles being created. At scale this could improve unemployment figures and mean individuals improve their standard of living. Our impact goes beyond numbers; what defines our success is transforming attitudes and growing aspirations.
The employment and entrepreneurship rates are only a small part of the story when we look back on the journey. It involves encouraging an environment where everyone has an active role in driving change. We are forging a future that offers our youth limitless opportunities and inclusive economic prosperity.
