By Nixon Chege
NAIROBI, Kenya, May 4 – The times of change are with us, whether we are ready or not. The world is consistently evolving and reconfiguring itself catalyzed by various shifts in world politics, economic conditions, technological advancements and social influences that have changed how we view the world around us.
We are now in an age where everyone is extremely interconnected through the power of social media and globalization efforts.
Furthermore, technology is advancing at an unprecedented pace in that if you blink, you might miss the emergence of the next big thing that revolutionizes the world.
Consequently, the youth are playing a crucial role in the current world economy as they are the future workforce, consumers, and innovators.
As the world population continues to grow, the youth population is also increasing, creating a great potential for economic growth and development.
The majority of people driving this new change are the youth who are known to be fearless but with reason and ambitiously persistent with conscious restraint.
Governments and institutions all around are awake to this fact and are equipping themselves to cater for this shift and Kenya should not be left behind.
An article by CNBC Africa, says that a survey conducted by Junior Achievement USA found that 60 percent of teenagers and youths are considering entrepreneurship over regular jobs for their future careers.
Locally, the number of young Kenyans running informal micro-businesses – currently estimated at three million – is expected to rise in the near future.
There is a budding interest in entrepreneurship as young people are taking the responsibility of shaping the world to come which should be met by continued support and encouragement from both the government and private entities and individuals who have historically done so through initiatives like AGPO and entrepreneurial communities like ATTIC Kenya and Anza Village.
Young people are an emerging workforce that brings new ideas and perspectives to the workplace and whose capacity to drive innovation and competitiveness is vital for economic growth and business development.
In Kenya, according to an article by Busiweek, one million people enter the job market annually.
Therefore, proper investment should be made to further equip them with skills and insights that not only help them understand the world as it is but strategically adapt to change and reimagine the world around them in the days to come.
Initiatives like Ajira and private organizations like Brighter Monday help with this and more work should be done to educate the youth on the opportunities available to them to ensure optimum utilization and efficiency of resources availed to them.
Additionally, their keen interest in technological advancements and their ability to adopt new technologies quickly make them well-positioned to create new applications, software and services that drive productivity and efficiency.
Seeing companies like Google establish offices in Kenya and Andela tap into the Kenyan talent pool proves that we can evolve into the premier innovation and creative hub of Africa with proper investment and commitment by all stakeholders.
The youth are hungry for opportunity and avenues like coding schools, technical schools and vocational schools should be ramped up to produce a more capable workforce.
As a significant consumer group, young people’s consumption patterns significantly influence the economy through their unique preferences and spending habits.
They often spend on experiences and products that align with their values, and this can drive economic growth and development. They are also driving change through activism and social entrepreneurship, leading to the growth of sustainable and socially responsible businesses that benefit both people and the planet.
I believe that investing in the youth’s education, skills, and entrepreneurship is crucial for driving economic growth and development. Policymakers, business leaders, and stakeholders must provide the necessary support to unlock the youth’s full potential.
The youth have a critical role to play in the current world economy, and it is essential to pay attention to their needs to achieve economic progress as a nation.
Chege is the current CEO of Umfana Global
