Entrepreneurship presents a path toward economic independence for young men and women in Africa, particularly when formal employment opportunities are scarce, and the poverty rate among working youth is at nearly 70 percent. Small mom-and-pop retail shops play a critical role in many low-income communities by providing income for entrepreneurs, creating jobs, and increasing access to everyday products.
TechnoServe and Citi Foundation are partnering to scale up a proven model that helps mom-and-pop shops become more profitable by connecting entrepreneurs with the knowledge, training, and tools they need to become successful retailers. The Pan-African Youth Entrepreneur Development (PAYED) program was launched in October 2017 to provide training and tailored advisory support to 600 young entrepreneurs in Kenya, Nigeria, and Côte d’Ivoire and to develop opportunities in the micro-retail sector.
The one-year program, targets young entrepreneurs who are owners, managers, or employees of existing shops, while also piloting activities to help motivated youth launch new micro-retail enterprises. The program aims to increase the adoption of best practices by 70 percent through training and coaching and increase sales by 30 percent.