JUNIOR AFRICAN CHAMBER OF CONNECTIVITY

About Solution

The problem of unemployment has been Africa’s headlines for many decades. Given that getting employed after a superior acquisition of knowledge (university studies) is a great cause of concern because of lack of working experience, and worst, being self-employed is uncommon due to inadequate capital. We seek to bridge this gab in the economy to a greater extent by registering hundreds of thousands of students both university and secondary school students at a fee affordable by everyone in the society, USD $20 (10,000FCFA) each, annually, open a bank savings account for them, so that they start developing savings habits, and structuring them into batches of fifty thousand (50,000), to train them in entrepreneurial leadership alongside their university studies, while we multiply the money from registration fees in various businesses so as to give them refundable capital at the end of their studies to start their own enterprises. Given that the students are not skilled enough to obtain a job nor do they have capital to start their own business after universities studies, we will train them on every aspect of enterprise creation, making them digitalize their businesses as much as possible so that they could be able to compete with the rest of the world. Moreover, the business environment in Africa (Cameroon especially) is saturated with many business entities of almost same kinds and thus competition is heated. We would not want them to start their own enterprises in such environments, thus we envisage building new cities for them to develop in the suburbs or existing ones and target an audience throughout Africa, as we will build a market form them. They will then have a large market and very few competitors. JACC operates in the finance industry. The finance industry of developing economies is a blend of a few giant commercial banks and many cooperative societies and credit unions. These financial entities however lend mostly to already existing companies, whom they are sure of immediate refunds, rather than individual aspirants. However, students are our target market. From a statistical study made by a financial institute, the total jobseekers in Cameroon amount to 13,674 individuals and total employers are just 2, while there are no jobs available. The figures keep multiplying each year in Africa, as tens of millions of students graduate every year. Notwithstanding, the problem of unemployment is addressed by entities, ranging from the government to commercial banks.

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