Youth unemployment is one of the impending disasters of our time. Youth unemployment in Africa is among the highest in the world, and yet, the continent's leaders are not doing everything to help combat this menace. Young people without jobs feel disenfranchised, and take longer to start families. Divorce rates are high during times of unemployment. As the Japan lost generation- those who entered the workforce in the 1990s- showed, youth unemployment can have devastating effects on a particular demographic. How do we combat this scourge? I think the solution lies in encouraging the growth of medium high growth businesses.
While multinationals create tremendous wealth, they do not create enough jobs, leading to what's known as 'jobless growth'. Micro businesses on the other hand are too small and stunted, and their owners do not have a big chance to grow these micro businesses. On the other hand however, medium high growth businesses create jobs and wealth that percolates throughout the society. They are in a way, the solution to the continent's pressing youth unemployment.
How else can we encourage the growth these 'medium high growth
businesses'? How can we eliminate the rampant youth unemployment in the
continent?
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