Job Creation and Preservation
Africa has the world’s fastest growing population with an additional 1 billion people to be added by 2050. In 2018, 18 out of the 20 countries with the highest world fertility rates, averaging 5 births per woman, were in sub-Saharan Africa. A young population can be a demographic asset, but without jobs, it can become the source of socio-economic instability. The Fund will focus and measure its impact on job creation; particularly, jobs for women and youth. COVID-19 brings a need to also preserve and protect existing jobs that are at risk due to COVID's economic impact.
Climate Adaptation & Mitigation
Industries suffer millions of dollars in losses due to climate related risks. They are also culprit to accelerating climate change. It is important for industries to adapt and mitigate climate change to reduce business vulnerability, this is particular true in the agribusiness sector. The Fund will prioritize climate strategies for all its investee companies.
According to AFDB, Industrialization introduces new technologies and techniques, generates employment, increases the skills of the workforce, supports formalization of the economy, diffuses improvements into the wider economy and tends to underpin social stability. The Fund will focus on transferring industrial know-how from leading companies in Emerging Asia and Latin America to African companies.