The African population is consistently growing exponentially and is said to increase to about 300 million young people by the next two decades. (MasterCard Foundation, Young Africa Works Strategy). That will mean an increase in the workforce and the demand for sustainable jobs. However, the economies of most African countries are not growing at equal magnitude. There are fewer formal sector jobs to accommodate the teeming population. Many reasons account for this problem. We can mention bad economic policies, corruption, and structural economic challenges dating back to colonial times. These are but to mention a few. Whatever the reason, unemployment is high, and immediate solutions are needed. So what is the way forward?

Recently, Finance Minister Ken Ofori Atta of Ghana charged the youth to consider venturing into entrepreneurship as an alternative to formal sector jobs. He disclosed that the government payroll was reaching its maximum limit and thus suggesting that the government had little money to fund the creation of more formal sector jobs for the youth. While this call sparked a lot of debate, it renewed the calls of those schools of thought that considered entrepreneurship as the best way of solving Africa's employment crisis.

This article agrees with the assertion above and will make suggestions to governments on how entrepreneurship can be a lucrative venture for young people.

To be continued.