YOUTH INVESTING AND EMPOWERING
The youth is the future, and timely and effective investment in youth is the key to making that future prosperous, both economically and socially. 70 percent of Somalia’s population is under the age of thirty, as a result, youth strategy is needed to adequately equip the younger Somali generation for the better future.
The key for successful youth policies is to ensure that people can make the most of the opportunities they have. Individual responsibilities and incentives are important not only to cater for individual taste and capabilities but also to increase life style and formation of human capital or social capital.
The role of the authorities is to stimulate and empower people to take these responsibilities, to facilitate change and to ensure the most efficient use is made of resources. In addition, government policies are needed to cater for risks that cannot be insured against, for safety net arrangements and to favour second chances. Empowering the individual is not simply a matter of providing the right incentives for personal investment and guaranteeing returns; it also means providing the individual with the means to effectively adapt to change.
Investing in youth means investing in human capital and social capital; human capital needs permanent upgrading all along the life-course. The economy of tomorrow relies first and foremost on the use of its human resources. ‘Investment’ should be interpreted in a broad sense that includes personal investment by youth themselves, parents, schools, various layers of government and other stakeholders. The investment is not only monetary, but involves time, effort, and social and cultural investments too. If adequately managed, these investments may yield substantial private and social returns. Human capital formation has economic benefits in increasing employability, in private earnings and social benefits in reducing poverty and increasing civic participation. Investment in human capital also stimulates economic growth by improving the quality of labour supply; and it saves also social costs as shown. Investing in social capital may increases the productivity of individual and groups. Investing in disadvantaged youth is even more beneficial, both economically and socially.
There are many different ways to invest, Somali Business Forum (SBF) want to invest youth by facilitating investment and guidance they need Tomorrow’s Business Leaders. SBF want to invest 10 businesses idea’s each year. We defined youth as according to African Youth Charter as persons between the ages 15 to 35 years old.
Hence in order to access this program, you must be the ages between 15 and 35 years old. You must submit your idea partially in video and in writing; the program team will evaluate your idea, and get back to you with the next stage.
Second stage, the selected individuals will be asked to summit, full business plan and/or prototype
Third stage, after consideration, the selected individuals will get support and finance with help from SBF in order to develop further their products and services.
If you have what it takes to be next Mark Zuckerberg. Enter Here