President Kenyatta: Let’s grow African Businesses

Caption: President Uhuru Kenyatta watches as FKE Executive Director Jacqueline Mugo presents to him FKE’s Business Agenda at the First African Employers Summit.

President Uhuru Kenyatta has commended the private sector for their initiatives that have been geared towards job creation and youth employment. Speaking at the just concluded First African Employers Summit in Naivasha, the President urged the private sector to do even more by tapping the potential existing in Africa’s youthful population.

The president noted that youth unemployment remained a fundamental challenge that hindered Africa from realizing the full extent of her developmental promises. He further noted that Africa is 70% youth, but over 50% of were either illiterate, or unskilled, or unemployed or under-employed.

“The crisis of mass youth unemployment is a threat to the stability and prosperity of Africa.  Indeed, it is a crisis so serious as to amount to a fundamental, existential threat as well.” The president said.

The president also commended FKE and Business Africa for the timely organization of the First African Employers Summit.  While stating the matter of unemployment required urgent attention from all stakeholders, the President challenged the private sector to take up existing investment opportunities as a practical means to mitigate the youth unemployment crisis.

“Government has a role to play in supporting the kind of enterprise that creates employment but it is businesses that ultimately spur society’s success.” He added.

Delegates at the Summit comprised of over 100 local delegates as well as employer representatives from 15 African Countries. The President urged them grow African businesses, scale up small businesses, and shore up big ones, so that they could absorb more workers and change more lives.  He also called for revolutionizing of the informal sector, and make sure that the jobs created in that process can drive Africans out of poverty.

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