Roundup: Youth urged to exploit Africa's economic potential

Africa's young people, who account for 70 percent of the population, are holding the key to unlocking the vast economic opportunities in the continent, says African experts attending an international economic event here.

The experts, including a former African Development Bank (AfDB) president and a Nobel Peace Prize nominee, spoke to more than 350 students from various Rwanda universities gathered at the University of Rwanda College of Business and Economics in the Capital, Kigali for Community conversations, a side event organized by the World Economic Forum (WEF) on Africa 2016.

Former AfDB President Donald Kaberuka urged youth to tap into the multi-million pounds opportunities which African economies present.

About 70 percent of the population in Africa is under the age of 30, African economies need to do more to unlock the talent of its greatest resource, African youth.

"Young people need to be innovative in order to exploit immense opportunities existing in African economies. Africa is rich in terms of natural resources and human resource capacity. It's up to young Africans to assist their governments in the realization of the continent economic development agenda," Kaberuka told youth at community conversations forum.

"We can't allow us to copy strategies, we can only dream of Africa rising if we innovate. Don't get confused because being young, does not automatically give you virtues of being a good leader."

Kaberuka encouraged young people to be at the centre of industrialization and innovation and if they were to utilize continent economic resources.

The 26th WEF will run from 11th to 13th of May, this year focuses on digital economy catalysts capable of driving radical structural transformation of Africa while strengthening public-private collaboration on key global and regional challenges.

It's under the theme "Connecting Africa's Resources through Digital Transformation."

According to Victor Ochen, activist and Nobel Peace Prize nominee, being young does not prevent youth from learning and developing potential.

Ochen, a Ugandan activist who has been nominated for the 2015 Nobel Peace Prize and, at 33, is Africa's youngest nominee ever.

"All these young people are a big asset if we invest in them and they are a big liability if we don't. Let's start a new agenda where Africa is a new harvest for all," he noted.

The interactive discussions with students, focused on youth entrepreneurship: youth and rise of Africa.

Community conversations hosted by the University of Rwanda and Kigali Global Shapers Hub aimed to inspire young people that their future and that of their continent is in their hands.

On youth unemployment which proved to be the biggest challenge amongst the youth in the continent, Ashish J. Thakkar, founder of Mara Foundation, an organization for African entrepreneurs said that African youth needs to develop the culture of creativity and innovation, instead of waiting to be employed by their governments.

"Africa is virgin for innovation; it only needs right ideas and skills to make the best out of our continent's rich economies," he noted.

Thakkar stated that fast growth and technological change will drive the continent's growth while opening new opportunities for a younger generation of entrepreneurs.

"We are very supportive of the economic empowerment initiative in Africa and to that end we are committed to support young people capable of transforming their communities and societies."

For more than 25 years, the World Economic Forum has convened African leaders in business, government and civil society to shape the future of the continent.

Community conversations have seen a number of top government officials, entrepreneurs, artists, civil society leaders and chief executives join conversations on shaping Africa's future. Endit