Global Philanthropic Investment Firm Imaginable Futures and its Kenyan Partners plan to invest 7 million dollars in Sub-Saharan Africa to support holistic learning models and community initiatives.
The support will also enable youth to pursue diverse learning opportunities inside and outside the classroom.
The Company will collaborate with stakeholders in Kenya’s education ecosystem to co-create innovative solutions that will support all Kenyan learners.
Adolescent girls and young mothers who are most at risk are the main target.
The firm announced that it 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 childcare for mothers.
Speaking during the launch of the 2022 Strategy for Sub Saharan Africa, Principal Investment Officer Sam Mugacha said 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.
He said they will collaborate 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, young people make up 65% of the population in Kenya while close to one million Kenyans enter the job market annually.
However, less than 400, 000 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.
More than 13,000 teenage girls are forced to stop their education annually due to teen pregnancies.
The firm has partnered with the African Leadership Group, ALiVE, Andela, Educate! Dignitas, NewGlobe, Shining Hope for Communities (SHOFCO), Shujaaz Inc., Ubongo, and Usawa Agenda.
Dr. Purity Ngina, Senior Researcher at AliVe said Kenyan parents and communities have been worst hit economically, challenging their ability to invest more in education.
Imaginable Futures is a Global Philanthropic Investment firm that works with partners across Kenya, South Africa, Brazil, and the United States.
In the last 12 years, close to 20 African organizations have been supported through equity investments, grants, or project financing.
The broadening of its strategy is part of its efforts to address systemic barriers that impact learners and their families and perpetuate generational inequities.
Globally, Imaginable Futures has invested more than USD 240 Million and collaborated with more than 175 partners around the world as part of Omidyar Network and now as an independent entity.