Nearly 75% of the African population and more than 60% of the Middle Eastern population is under the age of 35. Many of these young people are unemployed – in some countries up to 50%. As the population of Africa and the Middle East continues to grow rapidly, youth unemployment is an increasing socio-economic challenge.
Entrepreneurship is an impactful solution to this problem. There is a vast amount of entrepreneurial potential in Africa and the Middle East, which has often been untapped. Orange Corners recognises this opportunity and wants to empower young, high-potential entrepreneurs. By offering entrepreneurs the necessary support, we invest in business potential and growth which in turn leads to the creation of jobs and economic development.
Orange Corners also directly contributes to the United Nations Sustainable Development Goals (SDGs) 5, 8, 9 and 17. We engage with these SDGs in the following ways:
Female entrepreneurship rates in Africa and the Middle East have grown extensively the last few years. Unfortunately there are still fewer female than male entrepreneurs in Africa and the Middle-East, and their businesses have an average lower profit rate and less growth capacity. This could be explained by the fact that women generally have less access to finance, are excluded from certain sectors and face many other restrictions in terms of culture, law and practicalities. At the same time, entrepreneurship is a great way to achieve gender equality. By empowering women to create their own employment, they become more independent when meanwhile providing communal solutions from a female’s perspective. A stronger gender equality rate ultimately contributes to the overall economic development of a country. We therefore aim to support female entrepreneurs, to give them an equal chance in starting and growing their business.
DECENT WORK AND ECONOMIC GROWTH
With unemployment figures as high as 50% amongst the young demographics of Africa and the Middle East and these populations still increasing rapidly, more jobs will be needed to support the ‘youth bulge’ and capitalise on the opportunity it offers. By stimulating entrepreneurial potential we aim to turn job-seekers into job-creators and support sustainable economic growth and the creation of decent work opportunities.
INDUSTRY, INNOVATION AND INFRASTRUCTURE
Entrepreneurs have the ability to create change. Not only by creating jobs, but by thinking of creative solutions to local or global problems. Like no other they know the problems at hand and what can best be done about them within their cultural context. By applying new technology or even inventing it, they have the power to reorganize industries and improve existing infrastructures.
PARTNERSHIPS FOR THE GOALS
You cannot change an entire ecosystem alone. That is why we are working hard to connect key partners within a country to each other and to the Netherlands. By creating strong partnership, we hope to create a constant flow of information, resources, knowledge and experience that is beneficial to everyone.