DODOMA, Tanzania — The Canadian government is partnering with FINCA Canada on a five-year, 5 million Canadian dollar initiative aimed at expanding economic opportunities for young people in East Africa. The announcement was made Wednesday by the Honourable Randeep Sarai, Canada’s Secretary of State for International Development, during a visit to Dodoma.
The project, titled “Increasing Economic Opportunities for Youth in Uganda and Tanzania,” will focus on strengthening the socio-economic inclusion of young people under 30, with a particular emphasis on marginalized and vulnerable young women. The goal is to refine skills, enhance financial inclusion, and improve employability to support long-term economic growth and reduce poverty in the region.
“Canada has proudly partnered with FINCA Canada for more than eight years. Now, we are working together to support marginalized youth in Uganda and Tanzania,” Sarai said. “Through technical and vocational education and training, and skills development, young people—especially young women—will be empowered with competencies that meet current market demands.”
Sarai added that the initiative will help young people secure jobs, advance careers, and start or expand businesses, leading to “a brighter future for all.”
Youth comprise over 70% of the population in Uganda and Tanzania, with median ages of 16 and 19, respectively. Despite these demographics, youth unemployment remains high, at 17% in Uganda and 11% in Tanzania, both well above national averages. Young women face unemployment rates 50% higher than their male counterparts.
The project will support youth through vocational training, entrepreneurship, and employment programs. FINCA Canada will collaborate with local organizations and businesses in both countries to provide job skills training.
Through its Business Partnership Program, FINCA Canada will offer business skills development, mentorship, and connections to established enterprises. The initiative also includes financial education, services, and capital to help young entrepreneurs launch or grow businesses.
James Onyutta, Managing Director of FINCA Uganda, expressed enthusiasm for the project’s potential.
“Young entrepreneurs in Uganda are brimming with potential,” Onyutta said. “This partnership will equip them to realize that potential, improve their lives, and drive meaningful, lasting progress in their communities.”
Over the next five years, FINCA Canada and the Canadian government aim to support more than 40,000 youth in Tanzania and Uganda, particularly young women and girls, through vocational training, financial literacy programs, business placements, and mentorship. The project is expected to generate approximately 20,000 new jobs by increasing access to financial products and services for business creation and expansion.
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