Youth Entrepreneurship and MSMEs: Partners in Progress on MSME Day
The world has witnessed an unprecedented growth in entrepreneurship since the emergence of the youth entrepreneurship program and MSMEs (Micro, Small, and Medium Enterprises). Following this development, economies grew, pre-existing businesses improved, and job opportunities sprang up from the launch of new enterprises. This allowed individuals and families to cater for their basic needs, save, and expand their businesses straight from the income acquired from these enterprises.
June 27th marks the time to celebrate the growth achieved and the opportunities that youth entrepreneurship programs and MSMEs present to youth. Additionally, it provides opportunities to highlight the challenges faced by the youth in their entrepreneurial journey and possible solutions to these challenges.
The continued partnership Asante Africa Foundation offers to boost youth entrepreneurship programs and MSMEs in Kenya, Tanzania, and Uganda has proven that collaborations go a long way in catalyzing growth and financial liberation.
Growth and self-dependency can only be achieved through adopting strategic activities that involve the youth. The youth embody the strength and hope for a better tomorrow in every community. Unfortunately, youth are often rendered incapable of living up to that expectation. Youth, especially in rural communities, are mostly uninformed or limited by a dearth of knowledge and access to resources.These challenges stand in the way of a bright future. However, mitigating these challenges is possible through the collaborative efforts of people and organizations who are passionate about the progress of this revolution. This is why Asante Africa Foundation strives to ameliorate the challenges in the best possible ways.
One of our major goals at Asante Africa Foundation is to establish strategic partnerships that empower and unlock opportunities for the girl child and youth in rural Tanzania, Kenya, and Uganda. We do this by identifying immediate problems, developing specific programs to address these problems, implementing solutions, and teaching the youth to empower others with the skills acquired through the pay-it-forward initiative.
In 2019, Asante Africa Foundation received an invitation from the S4YE (Solutions For Youth Employment) to join the thirty-two global projects that provide opportunities for youth entrepreneurship. This clearly depicts that Asante Africa is actively working to uplift youth through youth entrepreneurship programs.
Asante Africa foundation has collaborated with local communities, governments, schools, and various NGOs to bring this dream to reality. We organized key programs such as the YLP (Youth Livelihood Program) that focuses on educating and empowering youth with sustainable entrepreneurial skills to drive economic growth, pave access to decent and equitable jobs, and enhance sustainable development of cities and communities in line with the SDGs goals 1, 2, 8, and 11.
One of our collaborations is our 5-year partnership with the King’s Trust (formerly Prince’s Trust). This began in Kenya and has now expanded into Tanzania, and Uganda. To date, more than 2,500 youth participants have acquired entrepreneurship skills, with 43% initiating their own economic ventures with positive environmental and social impact in addition to profit-making.
Our targeted areas in rural Kenya, Tanzania, and Uganda have experienced tremendous growth in youth entrepreneurship. The Asante Africa Foundation’s YLP program has empowered youth with knowledge, skill, and investment capital for their businesses.
Challenges
The global shift to AI shows that there is another skill that could open an important portal for youth entrepreneurship. This implies that less privileged youth will require more access to computers and digital tools. Access to these tools will equip them with skills and will pave the way to new opportunities for sustainable jobs in the long run.
Youth Business Success
Driven out of passion and the quest to assuage the financial burden for her single mother, Victoria joins the Asante Africa’s YLP. Having gained leadership and entrepreneurship skills, Victoria discovered an innovative recycling business opportunity, and put together a team for the business. They christened the enterprise “Together as One Company” with one major mission, improving their degrading environment by recollecting plastic bottles and converting them into usable items like; key holders, flower vases, and the like. Victoria and her team did not just pursue this enterprise with the purpose of making an income, they also desired to buy a briquette maker to preserve their environment.
Bakari, Iddrisa, and Hamisi, like the rest of YLP graduates equipped with entrepreneurial skills such as financial literacy and teamwork, embarked on a journey to equip January with the knowledge they had each acquired. January, was motivated by this new-found insight and in turn set out to mobilize people and resources within 5 communities in Tanzania. Because of January’s efforts, more than 7,000 trees have been planted.
In order for youth entrepreneurship and MSME to continue to progress, there must be a shared vision among the youth and stakeholders all over the world. This shared vision must be promoted in every community.
Written by: Victoria Kwamaamabe Theophilus
