Unlike most European countries, Africa's youth is booming and will most likely continue to boom. Imagine the incredible development from where Africa started.
In 1950, Africa represented only 8% of the world's population, but 100 years later it is expected to represent 25% of the world's total population and at least ⅓ of all young people aged 15-24.
And we can go on:
Today, 60% of Africa's population is under the age of 25, and as much as 70% if we look only at sub-Saharan Africa. These figures are also reflected in a median age of only 19 years, compared to China and the US, where the median age is around 38.
Kenya's Gen Z against the Finance Bill
One of the most prominent cases is the current demonstrations in Kenya, led by Gen Z, against the Finance Bill proposed by President William Ruto. The aim was to raise taxes by more than $2 billion to pay off debts and fund development projects. Basic necessities such as bread and sanitary pads were included in the tax increase.
For many Kenyans, the IMF was the driving force behind this tax increase, and thousands of young, often unemployed demonstrators took to the streets with placards reading:
We ain't IMF bitches!
Even after the bill was withdrawn, the demonstrations continued, showing the incredible power and demand for change, change that they could feel in their daily lives and not pay for the past.
Sadly, around 39 people died and 360 were injured during the protests. But even this danger has not stopped the youth of Kenya from fighting for change.
Impact on other African countries
But Kenya is not the only country in Africa where young people are protesting against the government's proposed fiscal measures. In Nigeria, President Bola Tinubu has been forced to reduce petrol subsidies and cut electricity subsidies. This has led to strikes organised by trade unions.
Nairobi-based economist Vincent Kimosop told the Financial Times:
"African countries are watching what's happening in Kenya. Those in high office should not sit pretty. "
His assumption is based on the fact that public debt remains a problem for several African countries and others will soon be forced to make severe cuts.
For example, Angola, a famous oil producer, is considering cutting fuel subsidies, and Ethiopia is currently negotiating IMF loans while trying to avoid a brutal civil war.
What now?
In the future, Kenya and other African countries will have to walk a tightrope between repaying debts to international actors such as the IMF, while at the same time providing tax breaks and support for the country's fast-growing youth population.
This may not be easy, and in the case of Kenya, President Ruto seems to have struck the right balance with the proposed Finance Bill.
And one thing we will definitely see more of in the future is that younger generations, like GEN Z in Africa, want to see positive change and accepting nothing less. Their strength and motivation to make their voices heard are unparalleled, surpassing what we see in younger generations in Europe.
What are your thoughts?
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