Sign in Subscribe
Youth

Barclays Bank Partners with Junior Achievement to Tackle Youth Unemployment

Strategic Insights

— 1 min read

Barclays Bank has announced a AGBP1,5 million (about US$2,3 million) three-year partnership with Junior Achievement (JA) worldwide to promote entrepreneurship among youths who are out of employment. The percentage of youths living in poverty is extremely high, with about 90% living on less than US$2 a day, according to a 2008 World Bank study. The partnership aims to find productive employment for Africa's 200 million young adults, one of the greatest challenges facing the continent today. The programme will work with over 8,000 students worldwide, focusing on education and entrepreneurship.

Key Takeaways:

  • Barclays Bank has entered into a AGBP1,5 million (about US$2,3 million) three-year partnership with Junior Achievement (JA) worldwide to promote entrepreneurship among youths who are out of employment.
  • The partnership aims to find productive employment for Africa's 200 million young adults, one of the greatest challenges facing the continent today.
  • The programme will work with over 8,000 students worldwide, focusing on education and entrepreneurship.
  • The partnership will benefit schools in Harare, Zimbabwe, including Highfield High, Harare High, Prince Edward, Gateway, Harare Girls High, Mabelreign Girls High, and Queen Elizabeth.
  • Children in rural areas will not be left out, as the bank is developing innovative computer-based technology to reach them.
  • The partnership will provide financial literacy and entrepreneurship skills to young people, including hands-on experimental programmes.
  • Barclays Bank managing director, George Guvamatanga, said, "We are building the future of the students as a company."
  • Mona-Lisa Dube, an upper sixth student at Queen Elizabeth High School, got a chance to shadow Guvamatunga as the MD and found the experience "very interesting and at the same time it was very inspiring."

Statistics:

  • 90% of youths live on less than US$2 a day, according to a 2008 World Bank study.
  • 88 million young men and women throughout the world were unemployed, accounting for 47% of the 186 million unemployed globally, according to the world youth report in 2007.
  • Barclays Bank will work with over 8,000 students worldwide as part of its global "banking on brighter futures" theme focusing on education and entrepreneurship.
  • AGBP1,5 million (about US$2,3 million) will be invested in the partnership over three years.

Sources:

  • Zimbabwe Standard (Aug 02, 2010)
  • Junior Achievement ( JA) worldwide
  • World Bank (2008)
  • International Labour Organisation (2007)
  • World youth report (2007)

Read more