Today, the East African Business Council (EABC) inked a memorandum of Understanding with MS Training Centre for Development Cooperation (MS TCDC) to help increase business opportunities for the youths.
Under the new deal, the duo addresses policy and regulatory challenges facing the youth while doing business.
During the event, the EABC CEO said, “the growing population, skills, and knowledge of the youth is an excellent asset for the economic transformation of the EAC region and the continent especially now with developments such as the African Continental Free Trade Area (AfCFTA), digitalization and e-commerce.”
“This MoU shall boost youths’ participation in the policy decision-making process at the EAC level and push a conducive environment for businesses plus amply active participation of youth in cross border and Intra-Africa trade.” Added Makena Mwobobia, the Executive Director of MSTCDC.
The deal intends to create platforms to enlighten the youths on investing matters, address existing factors hindering markets access, and increase their networking opportunities.
According to EABC CEO John Bosco Kalisa, the ‘Youth in Business, Trade, and Enterprise’ initiative has played a crucial role in advancing youth participation in business and increased access to economic opportunities.
“EABC and MS-TCDC have agreed on establishing a Youth Business Advisory Desk, which will strive to resolve issues inhibiting youths from scaling up their businesses promptly.”
In addition, the youth will receive training to close the region’s market gaps.
“EABC is keen on supporting and facilitating initiatives that will recognize and empower cross-border trade and innovation among youth in business,” Kalisa added.
The agreement will see Kenya make positive strides towards improving intraregional trade, which stands at 20 percent. It will also see institutions start recruiting and training the youth in business as part of the EAC SMEs platform.
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