The population of Sub Saharan Africa is projected to double by 2050 by the United Nations and currently 60% of the population is under the age of 25, making Africa the world’s youngest continent.
The burgeoning youth population is both an opportunity and a challenge for the continent.
Internet, digital penetration and engagements of African youth increased from 24.4% in 2018 to 90% in 2020 indicated by ITU Digital world (Child Online Protection Organization), but most of the activities online by the youth are not very productive even though great career and financial opportunities abound online.
Such high number of young people is an opportunity for the continent’s growth but only if these new generations are fully empowered and trained to realise their best potentials. As such, it is important that the youth are included in decision making and given equal opportunities for work, and skill training.
The United Nations estimates that 16 million young Africans are facing unemployment problem. On average, 11million young people join the African Labour market each year yet the continent generates only 3.7 million jobs annually,a gap too wide to be ignored.
It is to this effect that Geldex Invest, a multi regulated broker as part of its 1st anniversary is embarking on this Digital Finance program for the youth.
Three Universities namely: Koforidua Technical University, Valley View University and University of Ghana are to benefit from this programme.
Geldex Invest intense to train these 300 undergraduates on the capital market and the need to indulge and explore career and financial paths in forex trading through market analysis set skill.
The capital market, especially the foreign exchange market is the most liquid market in the world. Global Gross Domestic Product (GDP) of forex market in 2019 amounted to roughly 142 trillion Dollars with the entire worth of the market standing at $2.4quadrillion, and with over 170 currencies being traded. This was reported by Bank of international settlement.
The International Analysis of Research and Consulting (IMARC) group predicted a compound annual growth rate of 6% for the forex industry in the next 5years.
The industry is green in Africa especially Ghana, the more reason why there is the need to study and train to bridge the educational and capacity gap in hopes for future employment opportunities .
Geldex Invest has made its mark in the African Financial industry with their operations in this short time .
The official sponsor of the African Financial Traders awards 2021 in collaboration with Women in forex Ghana under her initiative “The Elevate Ghana Forex Project” has trained over 800 youth in forex education in 6 universities across 6 regions since the beginning of the year, 2022, and continues to impart financial literacy into the youth.
The goal is to adequately equip the youth with skill set that are relevant in this pandemic era for a better livelihood, gear the youth toward productive online engagements and reduce cyber criminal activities and cybercrime while helping government’s policy to reduce unemployment.
Writer: Gifty Annor Sika
Project Lead, the Elevate Ghana forex Project.
