While the economic outlook for Sub-Saharan Africa is positive, youth unemployment rates are still on the rise. Despite entrepreneurship becoming a viable solution in tackling this issue, business survival and growth represent major challenges. In 2014, only 2% of Ugandan businesses planned to employ more than 20 people in the next five years.
To address these issues, the ‘High Flyers’ Youth Entrepreneurship Programme plans to provide 1700 young high-potential entrepreneurs in Uganda with financial and non-financial support including enterprise training (focused on access to markets, value addition and value chain integrations), ongoing mentoring support, access to finance and additional business development support. In addition to this, the programme aims to help these entrepreneurs increase their income and generate 1700 new paid jobs.
The programme aims to train 1,700 young people to establish and grow their own businesses, create 2,360 additional jobs, and generate evidence about best practices in supporting entrepreneurs scale their businesses in Sub-Saharan Africa.
“Thanks to the High Flyers Youth Entrepreneurship Programme, the 1,700 beneficiary businesses shall be provided with suitable training and mentorship solutions that address challenges that come with business formalisation and expansion. The lessons derived from this initiative will be shared with practitioners and stakeholders supporting business start-up programmes in Uganda.”