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When it comes to job creation, there's no country in the world more in need than Nigeria, which has the highest rate of joblessness in Africa at 11.1%, per the World Bank.
And that's why the country's Office for Philanthropy and Impact Investing (which is part of the country's Ministry of Foreign Affairs) has come up with what it calls the "gold standard" for job creation in the country: the creation of 100,000 new jobs over the next three years, the Guardian reports.
The private sector is also on board, with the Lagos Chamber of Commerce and Industry (LCCI) revealing in a press release that it has teamed up with the Impact Investors Foundation (IIF) and the Nigeria Office for Philanthropy and Impact Investing to create a blueprint for corporate philanthropy in the country.
"We need the commitment of both public and private sectors to address the pressing issue of unemployment and empower our citizens with opportunities for more meaningful livelihoods," Etemore Glover, CEO of the IIF, says in the press release.
The Times of London reports that the private sector is already putting its money where its mouth is in Nigeria, with the country's biggest companiesamong them, Halliburton, Nestle, and Union Bankinvesting more than
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Social Entrepreneurship
Spotlight
Social Incubator North Offers 0% Loans to Social Entrepreneurs
The Social Incubator North, a £2 million incubator fund spearheaded by Sheffield-based Key Fund in collaboration with the four Northern Social Enterprise Partnerships and Locality, is providing 0% interest loans to North of England’s social entrepreneurs.