The US Vice President, Kamala Harris, has announced the United States (US) government intention to invest $1billion in Africa’s education and youth programming within the next two years.
The forum attended by President Akuffo-Addo was on the theme “Amplifying Voices; building partnerships that Last”.
Addressing the Africa and Diaspora Youth Forum at the ongoing US Africa Leaders Summit in Washington DC, Ms. Harris disclosed the funds would allow the country to further its partnership with African academic institutions and the private sector on education and research in science, technology, engineering, and math.
The investment would also expand the US signature program for African youth, the Young African Leaders Initiative (YALI), she said.
During the program, Ms. Harris launched the next phase of YALI; a new investment of $100 million to expand networking for YALI alumni and connect them with social impact and business investors.
The three-day summit, which brought together 49 African leaders, the African Union Commission Chair, business people, civil society organization and African diaspora youth leaders was with the aim of solidifying the bond between the US and Africa.
Mrs. Harris further revealed that, YALI fellows each year are funded to travel to colleges and universities in the US for six weeks to study either business, civic engagement, or public management, while YALI Regional Leadership Centers have been created to provide a similar experience at higher education institutions in Ghana, Kenya, Senegal, and South Africa. Currently, more than 640,000 young Africans participate in the YALI network, she disclosed.
Financing ACI, Promoting AWTI and Supporting Growth Of Young People
According to Ms. Harris, the US Export-Import Bank would this week sign a new memorandum of understanding with entities in Sub-Saharan Africa to provide more than $1 billion to finance American Commercial Investment (ACI) in Africa.
“This, we know and believe, will create jobs and opportunities in various sectors, and in particular, the renewable energy sector, in agriculture, water and sanitation, and infrastructure. It will as well create more funding opportunities for innovative African youth.”
Ms. Kamala Harris
Ms. Harris also spoke on the African Women’s Trade and Investment Initiative (AWTI), a new program which is yet to be launched to help women across Africa participate in e-commerce, and access financing and export markets given that, lifting up the economic status of women is for the benefit of all society and the nation at large.
“The African Women Entrepreneurship Program would also be relaunched to provide micro-financing to women to support their ambitions and their aspirations.”
Ms. Kamala Harris
Ms. Harris emphasized on their keen desire to support the young people because they are the lifeline to both the continent and country.
“Just consider, 60 percent of the population of Africa is under the age of 25. That is nearly 850 million young people on the continent. And by 2050, that figure will grow to 1.2 billion young people.
“This represents an enormous potential for the world in terms of economic growth and for social and political progress. So let us work together to foster the spark of creativity and ingenuity in Africa’s young leaders.”
Ms. Kamala Harris
The President of Ghana, His Excellency Akuffo-Addo, on his part called on African diaspora to help develop the continent and spur the socioeconomic growth of its people.
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