Mainstreaming Youth Employment and Entrepreneurship Across African Development Bank Investments

Strategic Insights -

The African Development Bank and the International Labour Organization have launched a pioneering system to integrate youth employment, skills development, and entrepreneurship across all Bank investments. Dubbed the Youth, Jobs and Skills Marker System, this transformative approach centers Africa's young people in development efforts, aiming to maximize the impact of every dollar invested. The system ensures that projects across diverse sectors, including agriculture, transport, energy, and education, systematically incorporate components that enhance youth employability, foster entrepreneurship, and build market-relevant skills.

Key Takeaways:

  • The Youth, Jobs and Skills Marker System has three focus areas: Youth, Skills, and Jobs, aimed at enhancing youth-led micro, small, and medium-sized enterprises, expanding access to practical, market-driven training and apprenticeships, and ensuring Bank-funded projects create sustainable job opportunities.
  • Each year, 10 to 12 million young Africans enter the labor market, yet only three million formal jobs are available annually.
  • The Bank will prioritize youth entrepreneurship and mobilize private sector partnerships to strengthen industry-oriented skills training and job creation over the coming decade.
  • The system is modeled on the success of the Bank's Gender Marker System and features an online platform for real-time data tracking and easier project monitoring.
  • The International Labour Organization provided technical support for the system's development with financial support from the Bank's Youth Entrepreneurship and Innovation Multi-Donor Trust Fund.
  • The Youth, Jobs and Skills Marker System is the first deliberate action of its kind developed by a development finance institution worldwide.

Statistics:

  • 10 to 12 million young Africans enter the labor market each year.
  • Only three million formal jobs are available annually.
  • The Bank has launched a pilot version of the Youth, Jobs and Skills Marker System, with the full implementation scheduled for 2026.
  • The system has been supported by financial assistance from the Bank's Youth Entrepreneurship and Innovation Multi-Donor Trust Fund.

Sources:

  • The African Development Bank
  • The International Labour Organization
  • (https://vimeo.com/1101153550?share=copy)