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The Mastercard Foundation, in collaboration with World Data Lab, has announced a bold initiative to create 10 million dignified digital jobs for young Nigerians through the African Youth Employment Clock. The initiative aims to provide critical data-driven insights to tackle youth unemployment and create sustainable job opportunities.
Rosy Fynn, Nigeria Country Director for the Mastercard Foundation, revealed that the foundation has already created nearly 3 million work opportunities for Nigerian youth, but emphasized that more work is needed. “Currently, we have provided nearly 3 million Nigerian youth with work opportunities, but we still have a long way to go,” Fynn said during the launch of the African Youth Employment Clock in Abuja.
The initiative aligns with the Mastercard Foundation’s larger vision to generate 30 million job opportunities across Africa by 2030. According to Fynn, the African Youth Employment Clock is a crucial tool in achieving this goal by offering real-time labor market data that will refine strategies and support better decision-making.
“Aligned with our mission to enable 30 million young Africans to access dignified and fulfilling work by 2030, the Africa Youth Employment Clock will be instrumental in providing critical labor market insights,” Fynn stated. She added that with Nigeria being home to Africa’s largest youth population, the tool will play a vital role in shaping solutions for the country’s unique employment challenges.
The Youth Employment Clock is designed to help stakeholders identify gaps and strategic opportunities in various sectors and regions. It is expected to serve not only governments and businesses but also academia, civil society, and the youth community itself.
“As the tool is officially launched, we encourage all stakeholders to leverage the insights provided to drive positive change. Let us use this data to make informed decisions, derive meaningful change, and answer the call to action for our youth,” Fynn urged.
The tool is viewed as a groundbreaking step in addressing Africa’s youth unemployment crisis. More than just a data platform, it provides real-time insights into employment trends, empowering policymakers, businesses, and educators to make informed decisions about reducing youth unemployment.
“This tool helps us understand where we are, where we need to go, and how we can achieve our ambitious goals,” Fynn added. She emphasized that by identifying opportunities and providing essential data, stakeholders can better address youth unemployment.
Fynn highlighted that the partnership with World Data Lab exemplifies the Mastercard Foundation’s commitment to empowering African youth and addressing unemployment on the continent.
Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, lauded the initiative, describing it as aligned with the government’s objectives of empowering youth, reducing unemployment, and building a sustainable future.
“As Africa faces unprecedented growth in its youth population, it is our duty to harness this demographic potential by creating meaningful employment opportunities. The Africa Youth Employment Clock is a powerful tool that will enable policymakers and stakeholders to access real-time data, fostering informed decisions to drive youth employment initiatives across the continent,” Bagudu stated.
He also stressed the importance of accurate, internationally comparable data in shaping Nigeria’s economic policies, noting that reliable data will enable the creation of inclusive policies that support all segments of society, including those in informal employment.
Minister of State for Labour and Employment, Nkeiruka Onyejeocha, underscored the urgency of addressing youth unemployment, describing it as a critical challenge that requires strategic action.
“Youth employment is a pillar of Nigeria’s socio-economic future. It impacts everything from economic growth to the stability and productivity of our labor market,” she said, adding that the issue is central to Nigeria’s development.
Onyejeocha also pointed out the scale of the crisis, noting that around 240.5 million young Africans are currently unemployed, a figure that could rise to 297 million by 2030 if decisive measures are not taken.
“These numbers represent the hopes and dreams of our young people—dreams that risk being stifled without access to meaningful work,” she warned, adding that such high unemployment levels pose a threat to socioeconomic stability and future growth.
Vice President of Strategic Engagements at World Data Lab, Dr. Reshma Sheoraj, highlighted the pioneering nature of the African Youth Employment Clock, which provides reliable labor market data and projections on youth employment trends across Africa up to 2030.
“Our mission is to provide decision-makers with crucial data needed to drive meaningful change for the world’s youngest workforce,” Dr. Sheoraj said, emphasizing the importance of the collaboration with Mastercard Foundation in advancing a deeper understanding of youth employment across the continent.
As African countries grapple with the challenge of providing meaningful employment to a rapidly growing youth population, the African Youth Employment Clock is expected to be a transformative tool that informs policy, drives economic growth, and empowers the next generation of African leaders.
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