Broadcasting
Using Entrepreneurship and Working with the Private Sector, Governments can End the Unemployment Crisis in Africa
By Didi Onwu, Managing Editor: Youth and Investors at the Anzisha Prize
There can be no doubt that the events of the past two years have had a devastating impact on the African economy. In fact, according to the International Labour Organisation’s flagship report, World Employment and Social Outlook Trends 2022, at least 13.3 million jobs and income opportunities were lost as a result of the pandemic. This has only made the severe economic difficulties facing the continent worse.
But even as the effects of the COVID-19 pandemic linger, green shoots are starting to rise up across the continent. Thanks to a growing crop of young, tech-savvy entrepreneurs, as well as rapidly accelerating connectivity rates, Africa’s next chapter could be somewhat brighter than the one just concluded.
But that will only be the case if a collaborative environment that brings together entrepreneurs, corporates, and governments is created.
Building across sectors
If you want a glimpse of how bright that future can be, you need only look at how many young African entrepreneurs are building innovative products and services across a variety of sectors.
Take Farmhut Africa’s efforts in the agricultural sector, for example. Owned by 21-year old entrepreneur Munyaradzi Makosa from Zimbabwe, Farmhut Africa is an AI-powered marketplace connecting farmers to markets that pay fair prices for their produce in the SSA region.
Another entrepreneur doing incredible things in the agricultural space is 22-year-old Tafadzwa Chikwereti from Zimbabwe. He launched eAgro in March 2020 with the sole purpose of creating a platform that fosters resilience and profitability for smallholder farmers using data analytics and machine learning.
In the mobile space, meanwhile, South Africa’s Lipa Payments, created by Thando Hlongwane – an Anzisha Prize Fellow – has the potential to be an emerging unicorn. It aims to bring Africa’s unbanked population and informal businesses into mainstream banking through mobile. The company recently raised an investment of R10 million and is expanding across the continent.
Significantly, all of the businesses mentioned above employ young people and create earning opportunities for others both directly and indirectly through their innovative business models.
Our own research shows that 60% of the businesses owned by young entrepreneurs or Fellows of the Anzisha Prize have created not less than 2 500 work opportunities by starting and scaling up their businesses.
The right environment to thrive
Of course, these entrepreneurs can only do so much, especially if they aren’t given the necessary environment to thrive in. It’s critical that governments do everything they can to provide that environment.
For some countries across the continent, that means a radical change in approach.
African governments have often relied on big business and foreign direct investments to bolster economic growth and job creation. The results of this approach have, at best, been mixed. Instead of relying on big business to spur economic growth and create jobs, African governments need instead to focus efforts and resources on improving the chances of success for small and medium-sized businesses.
Additionally, they should focus on building a culture of entrepreneurship from the ground up amongst children and teenagers. Ultimately, the goal should be to create a generation of job creators rather than just job seekers.
Big business has a role to play in creating that environment too. It is, after all, in its own interest to channel entrepreneurial opportunities toward young people and redirect trade to businesses owned by young people. By integrating these businesses into their supply chains, they help uplift the wider population, who can then spend money on their products and services. Governments can further show their support for this kind of approach by creating incentivising policies that reward organisations which support young entrepreneurs.
Change is imperative
Africa’s young entrepreneurs are building solutions that have the potential to change not just their own countries and the continent but also the world. Given the right environment, they can create numerous jobs along the way too. In a region facing major unemployment struggles (especially among young people), it’s critical that they be allowed to do so.
It’s clear then that governments, big businesses, and other players in the entrepreneurial ecosystem must come together and collaborate to create an environment that fosters and supports as many young entrepreneurs as possible.
Mr. Charles Ebuebu, director General of the National Broadcasting Commission (NBC), has called on Nigerian content creators to actively participate in the country’s Digital Switchover (DSO), describing the transition as a major opportunity for visibility, revenue growth, and industry collaboration.
Mr. Charles Ebuebu, DG, NBC
Speaking as Special Guest of Honour at the induction ceremony of the Electronic Media Content Owners Association of Nigeria (EMCOAN) in Lagos, Ebuebu stressed that the success of the DSO depends on engaging content to populate the nation’s new digital channels.
“Without content, the DSO’s success would be incomplete. We are urging content owners to collaborate with the Commission to ensure Nigeria’s digital future is rich, diverse, and sustainable,” he said.
The NBC boss highlighted that the upcoming FreeTV Direct-to-Home (DTH) platform, along with its mobile applications, would provide content creators with nationwide reach, advanced analytics, and brand partnership opportunities.
Nigeria’s DSO, which marks the shift from analogue to digital broadcasting, is being implemented by the NBC using the Nigcomsat satellite infrastructure. The programme aims to deliver over 100 nationwide channels and expand access to Nigerians in remote areas via hybrid decoders, addressing long-standing infrastructure and funding challenges. The project, which has experienced delays since 2012, now has strong government backing and is scheduled for launch in April 2026.
Ebuebu commended EMCOAN members for their contributions to strengthening Nigeria’s creative economy and encouraged them to leverage the opportunities offered by the DSO to promote local stories, culture, and creativity on both national and global stages.
During the ceremony, EMCOAN honoured its distinguished members, naming Wale Adenuga, MFR, as Grand Patron and Mr. Yinka Adebayo as Patron.
Prominent figures in the broadcasting content industry, including Wale Adenuga, Opa Williams, Agatha Amata, Jibe Ologeh, High Chief Emeka Ossai, Debbie Odetayo, Amina Mohammed, and Frank Elaboya, attended the event.
Representing the NBC at the event was Mr. Ralph Akpan, director of the Lagos Zone, while EMCOAN president, Mr. Adeniji Omirin, MD of ADNOM Media, urged members to fully engage in the digital switchover.
Canal+ is to cut jobs at MultiChoice as part of a sweeping restructuring plan aimed at stabilising the African pay-TV operator, following years of operational and financial pressure.
The move comes alongside a planned $115 million capital injection, underscoring the urgency of efforts to revive the business after the French media group took control.
The planned layoffs are expected to form a core element of a broader cost-cutting and efficiency drive, as Canal+ seeks to streamline MultiChoice’s operations and improve profitability.
The restructuring signals a shift toward leaner operations, with a focus on eliminating redundancies and optimising the company’s cost base.
MultiChoice has struggled in recent years with declining subscriber numbers across key African markets, weighed down by macroeconomic pressures, currency volatility, and changing consumer behaviour.
The rise of global streaming platforms has intensified competition, chipping away at the company’s traditional pay-TV dominance.
Canal+’s intervention marks a pivotal moment for MultiChoice, reflecting a more aggressive approach to repositioning the business.
By combining fresh capital with structural reforms, the new owners are aiming to both stabilise short-term performance and lay the groundwork for longer-term growth.
The $115 million injection is expected to provide immediate financial relief, supporting operations and potential strategic initiatives.
However, the accompanying job cuts highlight the depth of the challenges facing the company and the scale of transformation required to restore competitiveness.
Nigeria has ranked first globally in the ownership of the two largest stablecoins, Tether (USDT) and USD Coin (USDC), reflecting the country’s growing reliance on dollar-linked digital assets.
USDT, USDC
Stablecoins such as USDT and USDC are designed to maintain a fixed value against the U.S. dollar, allowing users to store money digitally while avoiding the price volatility associated with cryptocurrencies like Bitcoin.
According to the 2026 Stablecoin Utility Report released by BVNK, about 59 percent of Nigerian crypto users hold USDT, while 48 percent own USDC, giving the country the highest combined ownership rate among all nations surveyed.
The report placed Nigeria ahead of several major economies, including Australia and India, highlighting the country’s strong adoption of dollar-denominated digital assets. Australia ranked second with 34 percent USDT ownership and 29 percent USDC, while India placed third with 30 percent USDT and 27 percent USDC holdings.
The study also examined adoption levels across other regions. Countries such as Colombia and Singapore showed strong usage of both stablecoins, while adoption levels were also notable in South Africa and the United States.
Other markets included in the analysis were Philippines, Thailand and Argentina, where stablecoin ownership has also increased significantly. Among European economies, the report said France and Germany showed moderate levels of adoption, while Latin American markets such as Mexico and Brazil recorded smaller but growing usage rates.
The United Kingdom also appeared in the ranking with modest levels of stablecoin ownership. The report noted that USDT ownership exceeds USDC in many countries, including Nigeria, Australia, India, Singapore, the Philippines, Thailand, Argentina and France.
However, USDC is often viewed as a more compliance-focused stablecoin because of its stronger transparency and regulatory alignment. In some markets, including South Africa, Colombia, Germany and Brazil, the report found that USDC adoption slightly exceeds USDT.
More broadly, the data suggests that stablecoin adoption is being driven largely by emerging economies rather than advanced financial markets. According to the report, countries such as Nigeria, Argentina and the Philippines are among the biggest users of stablecoins, where people increasingly rely on dollar-pegged digital assets to protect savings from currency volatility and facilitate cross-border payments.
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