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We must create sustainable jobs for young people, says Mastercard
Ms Joanita Nabagesera, who is one of the beneficiaries of the Children’s Rights and Violence Prevention Fund, now operates her own fashion business. Photo / Courtesy
What you need to know:
- Mastercard Foundation says by leveraging technology and community-based approaches, it will create sustainable economic opportunities for young people
Mastercard Foundation Country Director Adrian Bukenya says leveraging technology and community-based approaches, will help to create sustainable economic opportunities for young people in a race through which Mastercard is seeking to enable 4.3 million young people access dignified and fulfilling work by 2030.
In a statement extending the Empowering Youth Through Data and Community Development programme at the weekend, Mr Bukenya said the success of the programme's first phase had highlighted the resilience and potential of young people in Uganda, which aligns well with Mastercard’s broader Young Africa Works strategy.
“We are excited to scale this impact further by leveraging technology and community-based approaches ... to create sustainable economic opportunities for young people” he said, noting that the Young Africa Works strategy envisions a robust, inclusive, and resilient economy driven by empowered young people and strong institutions.
The Empowering Youth Through Data and Community Development initiative, which is a partnership between Children’s Rights and Violence Prevention Fund, gnuGrid CRB and Mastercard Foundation, seeks to provide market-relevant skills, business development resources, and digital financial inclusion to empower young people.
Job opportunities
It also seeks to reach 400,000 young people in Uganda, of which 70 percent are female, create 250,000 jobs by 2028 by largely targeting people between 18 and 35 years, strengthen the capacities of 200 community-based organisations and digitise 3,000 youth-led village savings and loan associations to enhance financial services.
It will also establish and strengthen 10 Saccos and increase technology adoption in community finance structures by enhancing digital services and implementing credit scoring models.
Mr Fassil W. Marriam, the Children’s Rights and Violence Prevention Fund executive director, said there was need to “provide young people with the necessary skills and knowledge to engage in rewarding employment and ease access to financial services by digitising village savings and loan associations”.
Under the programme, gnuGrid is expected to facilitate young people with better access to credit and financial tools by integrating digital solutions into village saving and loan associations, creating a digital footprint for groups and members.
“We are excited to integrate our digital financial services into the programme. By providing digital wallets and credit scoring models, we aim to ensure that young people have access to credit and financial tools they need to thrive,” David Opio Obwangamoi, the gnuGrid CRB executive director.
