Home ECONOMY Local Banks partner with the MasterCard Foundation to empower youth

Local Banks partner with the MasterCard Foundation to empower youth

by biasharadigest

Equity Group and KCB Group have partnered with the MasterCard Foundation to assist five million young Kenyans to access decent work opportunities over the next five years. The foundation already supports Kenyan projects such as the Equity Bank Wings to Fly program which provides scholarships to bright, financially challenged students.

According to the Head of the Foundation Reeta Roy, young people need to be empowered with useful skills that will enable them to fit in the modern work environment. The youth require training on how to present themselves, how to negotiate with clients, and how to run businesses.

MasterCard Foundation will partner with local firms in training the fresh graduates and providing opportunities for them to work. The organization also aims to formalize the huge informal sector in Kenya. Kenya is a largely informal economy with more than 80 per cent of jobs being in the non-formal sector. The initiative by MasterCard will provide training and accreditation to informal workers such as plumbers, electricians, artisans, and welders thereby creating dignified job opportunities for them.

“Kenya has a vibrant entrepreneurial culture, a strong private sector, and an enabling policy environment,” said MasterCard Foundation CEO Reeta Roy, “Young Africa Works in Kenya builds on this momentum to prepare and connect young people to opportunities that will grow the economy and transform their lives.”

Reeta emphasized the need for young people to be informed on the current market demands in terms of employment opportunities and for them to understand their area of interest.

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