LEAP Africa has urged governments, investors and private sector organisations to increase funding, strengthen policies and deepen partnerships to support the expansion of youth-led businesses and boost Africa’s economic growth.
The organisation made the call at the 13th edition of its Social Innovators Programme and Awards, which brought together more than 200 young social entrepreneurs, investors, policymakers and business leaders in Lagos.
The event, themed ‘Africa as the Sector: Maximising Youth Agency for a Prosperous Africa – Leveraging Technology, Finance and Policy,’ examined the challenges limiting the growth of innovative businesses across the continent. It also provided opportunities for young entrepreneurs to connect with investors, establish partnerships and explore market opportunities.
With Africa’s youth population expected to surpass 830 million by 2050, LEAP Africa emphasised the importance of creating an environment that enables young people to develop innovative ideas into sustainable businesses, employment opportunities and lasting economic value.
Speaking at the gathering, LEAP Africa’s Executive Director, Mrs Kehinde Ayeni, called for a shift in how youth entrepreneurship is viewed within Africa’s economic development plans.
“For too long, conversations about Africa’s young people have focused on their potential rather than the economic value they are already creating. Across the continent, young entrepreneurs are building businesses that address real market and development challenges. Yet, access to finance, markets and enabling policies continues to determine how far these solutions can go,” she said.
She further explained that the Social Innovators Programme and Awards was challenging investors, policymakers and business leaders to see youth-led enterprises as more than beneficiaries of development initiatives, but as viable businesses with the capacity to contribute to Africa’s economic growth.
Delivering the keynote address, the Country Director of Mastercard Foundation in Nigeria, Rosy Fynn, said Africa’s prosperity would depend not only on the size of its young population but also on their ability to take action.
“Our prosperity will not depend simply on how many young people we have but the power they have to act. Financing must be designed around the realities of the people it wants to serve. It is not a one size fits all. The right policy environment can make it possible for the business to thrive. We need to collaborate and find synergies rather than work on silos,” she said.
Also speaking on the theme, the Founder and Managing Director of JNC International and Board Chair of LEAP Africa, Clare Omatseye, stressed that developing social enterprises requires more than the provision of initial funding. She highlighted the need for sound institutional structures, sustainable funding models and policies that would help businesses compete and expand.
“The future of Africa’s economy will depend significantly on our ability to build an environment where young people can create value, generate employment and grow sustainable businesses. This requires more than funding individual ideas. It demands stronger institutions, intentional partnerships and policies that make innovation commercially viable and socially impactful,” she said.
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