3 Introduction
A cause for innovation and entrepreneurship
Africa has the youngest population in the world, with about 60% of its population being under the age of 25. The youthful population presents both an opportunity and a threat to the continent, because at the current incremental pace of economic and social advancement, several young people will miss out on the opportunity to live up to their potential. The high illiteracy rate among young people, under and unemployment rates, and lack of patient capital for youth-led entrepreneurial ventures are notable barriers that continue to limit the realisation of the full potential of young people across Africa. The failure to shatter these barriers means that youth joblessness will persist into 2050 when the continent’s population will have doubled, leading to worsened poverty, hunger and insecurity. Technology, innovation and entrepreneurship present an opportunity to disrupt this trajectory by unlocking new pathways through digital innovations for rapid economic growth, education, job creation and access to services that would have been unimaginable only a decade ago. A recent joint report by Google and the International Finance Corporation (IFC) estimates the potential of Africa's internet economy to contribute up to $180 billion to the continent's GDP by 2025 and $712 billion by 2050 .
An enabling environment is, therefore, now imperative to promote and grow entrepreneurship, technology, and innovations across Africa.
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