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Addressing Finance Challenges For Young Entrepreneurs (Tanzania)

Canada

E-Classroom | 1 Semester

Online placement (E-Classroom)

Length of Placement 1 Semester  

Tanzania is set to experience a “youth bulge” resulting in a large and young working age group. People under 25 make up more than 66% of the population - projected to double in the next two decades. 36% of girls between 20 and 24 years old were married before the age of 18 and 7% of them before the age of 15. In terms of job market, 900,000 young people enter the job market in Tanzania every year, with only 4% successfully completing secondary level education and about 75% of employed young people are active in the agriculture sector, and less than 7% hold public sector wage jobs.

More investment in young people, particularly girls in education, health and skills is critical as failure to do that: high dependency ratios, high unemployment rate, unrest and violence will keep happening.

This project hopes to address a major gap in Tanzania by providing start-up capital or accelerator capital to young entrepreneurs in the country. Entrepreneurship is the basic solution in increasing employment for young people, however, this initiative is critically affected by lack of either start-up capital or accelerator capital to young entrepreneurs because they cannot easily access loans from the financial service providers as they don’t have collaterals to a mortgage.

Any mechanism that will provide access to finance for young people will help to increase productivity, profitability and employability of this rapidly growing group in the country.

To help support this project, student researchers will review similar models that have been deployed in other countries, share lessons learned, and lead the development of a grant manual to guide funding of the initiative that will ensure the process is competitive and friendly for supporting young pioneers in business innovations.

This placement is offered under our E-Volunteering Classroom Program and is reserved for Canadian post-secondary instructors only. For more information about the classroom e-volunteering program, or to apply for this project, please email natalie.graham@cusointernational.org or visit our website at:  

https://cusointl.org/EvolClassroomProgram