Philanthropic investment firms unveil Ksh770M for region
Global Philanthropic Investment Firm and its Kenyan Partners partners will invest $7 million in Sub-Saharan Africa to support holistic learning models and community initiatives.
The support will also provide youth to pursue diverse learning opportunities inside and outside the classroom.
Imaginable Futures will collaborate with stakeholders in Kenya’s education ecosystem to co-create innovative solutions that will support all Kenyan learners’ especially adolescent girls and young mothers who are most at risk.
Imaginable Futures will support initiatives that offer youth flexible learning pathways, support their communities, democratize access to networks that build their social capital, and increase access and affordability to quality child care for mothers.
“Breaking down barriers that perpetuate inequitable access to learning for youth, including girls and young women, as well as providing access to strong community support and relatable role models is critical for Kenya’s future”.
Sam Mugacha Immaginable Futures Principal Investment Officer.
Further, Mugacha affirmed Imaginable Future’s commitment to collaborating with all stakeholders to support learning models and initiatives that provide young people with skills, awaken their agency and provide them with the support they need to thrive.
According to the 2019 Kenya population census by the Kenya National Bureau of Statistics, Young people make up 65 per cent of the population in Kenya while close to one million Kenyans enter the job market annually.
However, less than 400 thousand are absorbed into jobs with the rest joining the job-hunting market. This has been blamed on skills mismatch and poor choice of courses.
The Covid-19 pandemic has had a seismic impact on youth in Sub-Saharan Africa, from disrupting their learning to eroding their financial security and their physical and mental health.
Data from the United Nations Children Fund estimates that 1.8 million Kenyan children who should be in school have either dropped out or have never been in school at all while more than 13,000 teenage girls are forced to stop their education annually due to teen pregnancies.