The Government of Canada has launched a CAD 5 million, five-year partnership with FINCA Canada and FINCA Tanzania to increase economic opportunities for young people through entrepreneurship and financial services.
The project, titled “Increasing Economic Opportunities for Youth in Uganda and Tanzania,” was announced in Dodoma on July 21, 2025, during the visit of Canada’s Secretary of State for International Development, Honourable Randeep Sarai.
The project will support over 10,000 youth under 30, particularly marginalized and vulnerable young women, by offering vocational training, business development programs, and access to financial education and services.
FINCA Canada is a development organization focused on financial inclusion, and FINCA Tanzania is a licensed microfinance institution operating nationwide.
The two will implement the project in collaboration with local partners to enhance skills, create jobs, and support entrepreneurship among youth.
The initiative aims to create approximately 3,600 new jobs by helping participants launch or grow businesses and gain access to formal employment.
“Young people, especially young women, will be empowered with competencies that meet current market demands,” said Hon. Randeep Sarai. “They will be better equipped to secure jobs, advance their careers, and expand or start new businesses.”
Drew Boshell, Executive Director of FINCA Canada, added: “Young entrepreneurs in Africa have the ideas, determination, and ability to achieve great things when given the opportunity.”
Felician Girambo, Chief Commercial Officer of FINCA Tanzania, noted: “By integrating financial education with employability skills and entrepreneurship support, we are ensuring that young people have the tools to build sustainable livelihoods.”
Youth represent over 70% of the population in Tanzania, with a median age of 19. Despite their demographic weight, youth unemployment remains high at 11%, and young women face unemployment rates 50% higher than their male peers.
The program will address these gaps by providing skills training, business mentorship, and financial tools tailored to youth needs.
Local organizations and businesses will work alongside FINCA Tanzania to deliver job placements and skills development.
Through the Business Partnership Program, youth will also receive mentorship and be connected with established enterprises in their communities. Financial literacy education and capital support will enable them to start or expand microenterprises.
