Policies are Essential to Accelerating Young Women’s Ability to Contribute to Africa’s Economic Growth
Four young women in safety helmets and work attire stand confidently, symbolizing Africa’s future leaders in economic development.
A recent report commissioned by the Mastercard Foundation and conducted by McKinsey and Company revealed that “young women in Africa can become important contributors to the continent’s economy, adding $287 billion (a 5% GDP increase) and 23 million jobs” to the continent by 2030. It is estimated that finding solutions to young women’s care responsibilities could enable 11.4 million young women to engage in paid work by 2030. There are several ways to approach this, including government-funded models, some of which have already proven successful. For example, the World Bank’s global Invest in Childcare program helps countries improve childcare through a fund that matches country investment on a $1:$1 basis. In economically disadvantaged areas of Nairobi, vouchers for Early Childcare Centers have increased employment among mothers by 8.5%.