More jobs

Developing countries like Tanzania are experiencing an unforeseen youth bulge—a high proportion of young people aged 15 to 24. Sadly, this growth is not matched by an equivalent rise in economic opportunities for the youth. Most youth are either unemployed or engaged in activities with low productivity. There are solutions to this problem.Most of the youth are unserved or underserved in their borrowing needs.

This limits job creation, productivity, and the growth of small businesses. Ninety-seven percent of loan facilities require collateral, a factor limiting motivated youth and small scale entrepreneurs, many of whom lack fixed assets of a significant value to pledge. For more jobs, there is a need to deepen financial inclusion and expand credit access and financial services to the youth and unserved population. There is need for infrastructure investments. Construction of infrastructure only consume a lot of labor... —