Report By: Ishmael Barfi
Africa’s youth are the continent’s most valuable resource, and investing in their development is crucial for economic growth, said Richard Nii Armah Quaye, President of RNAQ Holdings, at the Youth Prosperity Dialogue in Accra on Thursday.
Speaking at the 2026 Africa Prosperity Dialogues, Quaye emphasized that Africa’s youth are the future workforce and customer base, and empowering them is essential for businesses to thrive. “If we get youth right, African businesses will thrive for generations. If we get it wrong, no amount of capital, policy reform, or trade agreements will save us,” he warned.
Quaye shared his personal entrepreneurial journey, highlighting how he built RNAQ Holdings into the largest microfinance institution in Africa, operating in eight countries and employing over 30,000 young Africans. He started with just £1,000 in personal savings, no inherited wealth, and no institutional support, showcasing the power of discipline, resilience, and quick learning.
He identified a “talent pipeline problem” in Africa, where education-to-employment systems fail to equip young people with modern skills. To address this, Quaye proposed an ‘Earn as You Learn’ model, featuring structured apprenticeships, internships, and management training programs.
RNAQ Holdings has invested $100 million in African ventures, with a recent $30 million initiative to help businesses scale across borders. Quaye stressed that Africa lacks growth capital and structured pathways to scale, not ideas. “Capital matters, but capital without discipline fails. Talent matters, but talent without hard work fails,” he said.
He challenged stakeholders to rethink youth empowerment, treating them as partners in Africa’s economic future. “Africa’s greatest asset is its youth. The question is, will we treat them as a risk or as partners?” Quaye asked.
Source: www.thenewindependentonline.com
