Monday, July 20, 2015
Citi Foundation and Technoserve Partner for Economic Opportunity in Africa
As entrepreneurship takes center stage in Africa this month at the Global Entrepreneurship Summit, Citi Foundation and TechnoServe have announced a partnership to stimulate entrepreneurship and job growth in four sub-Saharan countries. Citi Foundation’s African Youth and Women’s Business Development programme will develop business approaches that can be taken to scale by local organisations to provide employment, enhance incomes and increase the economic participation of women and youth.
Youth account for 60 percent of all Africans unemployed, according to the World Bank, with young women affected most severely. Underemployment is also a major concern, with more than 70 percent of Africa’s youth living on less than US$2 per day. The new partnership will address these problems by drawing on the Citi Foundation’s long experience supporting local economic development and TechnoServe’s expertise in promoting entrepreneurship and small businesses....