FINCA Canada and Canadian government commit $5m to improve youth employment in East Africa

The five-year initiative aims to provide vocational training, financial services, and entrepreneurship support to marginalized young people in Uganda and Tanzania.

FINCA Canada, in collaboration with the Government of Canada, has announced a five-year, $5 million project to expand economic opportunities for young people in Uganda and Tanzania.

The initiative focuses on financial inclusion, entrepreneurship, and employability, particularly for marginalized and vulnerable young women.

Addressing high youth unemployment

Youth under the age of 30 account for more than 70 percent of the population in both countries, with median ages of 16 in Uganda and 19 in Tanzania. Despite their numbers, youth unemployment remains above national averages, 17 percent in Uganda and 11 percent in Tanzania, with young women facing joblessness at rates 50 percent higher than their male peers.

The project, called Increasing Economic Opportunities for Youth in Uganda and Tanzania, aims to reduce barriers through vocational training, entrepreneurship programs, and partnerships with local organizations and businesses. These partnerships will help deliver job skills training and connect young people to employers.

Randeep Sarai, Canada’s Secretary of State for International Development, says the project builds on a long-standing partnership. “Canada has proudly partnered with FINCA Canada for more than eight years. Now, we are working together to support marginalized youth in Uganda and Tanzania,” Sarai says.

“Through technical and vocational education and training, and skills development, young people, especially young women, will be empowered with competencies that meet current market demands. They will be better equipped to secure jobs, advance their careers, and expand, or start new businesses. Inclusive opportunities will lead to a brighter future for all.”

Training, mentorship, and financial access

The program will include business skills development, mentorship, and access to financial education and services to help young entrepreneurs start or grow their businesses. Through the Business Partnership Program, youth will also be matched with established local businesses for hands-on placements and mentorship.

Drew Boshell, executive director of FINCA Canada, says the initiative is designed to break the cycle of poverty. “Young entrepreneurs in Africa have the ideas, determination, and ability to achieve great things when given the opportunity,” Boshell says. “Through this project, FINCA Canada is committed to helping young people achieve their goals and break the cycle of poverty by allowing them to access the financial skills and services they need to secure a sustainable future.”

Over the next five years, the partnership expects to support more than 40,000 youth and create approximately 20,000 new jobs across both countries.