Village Capital, with the support of IFC is launching the Future of Work Africa 2021. An accelerator program supporting, and scaling startups across Sub-Saharan Africa. Its aim is to help young people find jobs, build careers, and prepare for the future of work.
Africa’s workforce is projected to be the largest in the world in the coming decades, with hundreds of millions of people below the age of 25 starting to look for work. But there are simply not enough quality jobs for this young and growing population.
Nearly half of young people on the continent are unemployed, and in some countries, more than 4 out of 5 work in the informal sector, with fluctuating incomes and few if any benefits. While agriculture has long been the continent’s top sector, more and more of Africa’s population is moving to urban areas, where jobs in the formal sector are in short supply.
The accelerator will support entrepreneurs building for-profit, market-based solutions across the education, employment, and benefits spectrum that can help young people in Sub-Saharan Africa better prepare for and manage the future of work.
Ventures must address youth unemployment through the following:
Future of Work Africa 2021 will host two cohorts, each cohort will have between 10 and 15 entrepreneurs. A decision will be made as to whether it will be in person or online.
Find more details on how you can apply for the competition before January 22, 2021.