The Next Economy (TNE)
Description
Operational from 2016 to 2023, The Next Economy program engaged young people in Nigeria, Mali, Somalia and Somaliland, with a mission to unlock their potential, build their confidence and equip them with the essential skills required for successful careers or entrepreneurial ventures. Executed with diverse local partners and a consortium of partners in the Netherlands, and funded by the Netherlands Ministry of Foreign Affairs, this project addressed the evolving challenges young people face in the changing job market by equipping them with the necessary skills and opportunities for employment and entrepreneurship, with a focus on soft skills development, work experience, and nurturing entrepreneurial ambitions.
Project Objectives
The Next Economy supported young people in their transition, by providing them with the foundational skills and access to employment and entrepreneurship opportunities. This included:
Providing young people with foundational skills to enhance employability.
Offering initial work experience opportunities to develop soft skills.
Fostering entrepreneurship by supporting ambitious individuals with business ideas.
Bridging the gap between young people's aspirations and the evolving labor market.
Achievements
Enhanced ability of engaged youth to select careers matching their skills and interests, suitable for the current labor market.
Youth launched own startups, creating sustainable sources of income.
Youth-led startups not only sustained existing jobs but also added new sustainable positions as they expanded into small and growing businesses.
Youth received crucial support from civil society organizations and the business community, which facilitated job and internship placements.
Beneficiaries saw significant enhancements in their employability skills, boosting their job prospects. This initiative also curbed the tendency toward illegal migration and instilled hope for Somaliland's future, turning youth into peace advocates.
Established a crowdfunding platform that allowed beneficiaries to showcase their innovative business ideas.
TNE Impact
Impact
The Next Economy Program has profoundly impacted the youth of Somaliland by revolutionizing their career trajectories and entrepreneurial skill sets. Nearly 1,177 participants have emerged from the program equipped with the knowledge and confidence to pursue careers aligning with their unique talents and aspirations. Notably, 65 of these participants have triumphantly established sustainable startups that are now thriving and contributing significantly to the local economy. These entrepreneurial initiatives have injected vitality into the burgeoning small business landscape of Hargeisa.
Support from civil society organizations and the business community has been pivotal, offering a network of guidance, mentorship, and resources that has facilitated numerous job and internship placements, bolstering participants' employability. Moreover, the program's innovative use of a crowdfunding platform has empowered participants to launch cutting-edge projects by attracting essential funding and support for their ambitious business ideas. Through these initiatives, The Next Economy Program has created a transformative ecosystem that nurtures creativity, innovation, and the entrepreneurial spirit among Somaliland's youth, ensuring a brighter economic future for the region.
More Details
Project Director: Ahmed Yusuf Mohamed | Email
Location: Somaliland | M/J | Hargeisa
Start Date - End Date: January 2016 – December 2023
Donor(s): One Percent Club
Partner(s): One Percent Club