Stop calling young people leaders of tomorrow, says Tayebwa

Parliament Deputy Speaker Thomas Tayebwa has advised leaders in developing nations to invest in young people through quality education for development.

Speaking at the 2023 Commonwealth Business Forum in London, United Kingdom, Tayebwa, in his keynote address said calling youth ‘leaders of tomorrow’ is “self-defeating and unsustainable in a world dominated by the young people.”

“If you don't invest in young people, you're not investing in sustainability and the future. It can only be sustainable if you invest in a generation that is going to take over,” he added.

Tayebwa also expressed concern about the growing income inequality world over.

Quoting figures from the 2022 Global Wealth Report by Credit Suisse which is one of the world’s largest services providers, Tayebwa noted that 52.5 per cent of the world’s 8billion people population now own less than 1.25 per cent of the global wealth.

“You will also find that only 5 per cent of millionaires are outside North America, Europe, China, and Asia-Pacific region,” he highlighted, predicting that Africa will have a quarter of the world’s population by 2050.

“You either invest in the young people, especially in the developing world or they are going to be a problem for you,” Tayebwa stated on September 8, 2023.

Meanwhile, the Commonwealth Forum aims to engage, energize an envision global youth in association with the Uganda High Commission in London and the 50th Anniversary of the Commonwealth Youth programme.

Commonwealth deputy secretary general Dr Arjoon Suddhoo called for youth involvement in inclusive decision-making.

“Unfortunately, in many of our [Commonwealth] countries, the young people are not present in decision making and that's a big mistake. We need to get them involved,” he urged.

According to the Global Wealth Report by Credit Suisse, a significant chunk of overall global wealth still belongs to the wealthiest parts of the population.

In stark contrast to millionaires, 52.5 per cent of the world’s adults had less than $10,000 in wealth and combined for just 1.2 per cent of global wealth.

Looking ahead to 2027, Credit Suisse forecasts that the share of adults with less than $10,000 in wealth will fall, with more adults moving into the middle and upper-income levels.

But it’ll be interesting to see if global wealth inequality continues its long-term downward trajectory.

Where are the world’s millionaires mostly found

42%: North America

27%: Europe

16%: Asia-Pacific (ex. China and India)

10%: China

5%: Rest of the World.

Nimisha Madhvani, Uganda's High Commissioner to the United Kingdom told the Forum that President Museveni vastly believes in the youth as she urged investments in the East African nation.

“We have 70 per cent of 45 our 45 million people who are aged under 35. So you can just imagine the talent and the partnerships that you can create in Uganda, in East Africa and in the world with each other because there'll be no borders when it comes to digitalization and the youth,” she said.