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Africa’s youth are more hopeful, but demand jobs and accountability

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Young Africans are more optimistic about their future than at any point since the Covid-19 pandemic, but they are also making clear that hope alone is not enough. A new continental survey shows a generation that believes in Africa’s potential while demanding jobs, cleaner government, safer communities and a political system that reflects African realities.

The 2026 African Youth Survey, released on 29 July in Johannesburg, found that 47 percent of young Africans now say their country is moving in the right direction, up from 30 percent in 2024. Confidence in national economies has also improved sharply, with 45 percent saying their economy is on the right path, compared with 26 percent two years ago. Across the countries tracked in every wave of the survey, 43 percent now say Africa is moving in the right direction, up from 37 percent in 2024.

The survey, commissioned by the Ichikowitz Family Foundation and conducted by PSB Insights, interviewed 4,901 people aged 18 to 24 across 16 African countries in March 2026. It is the largest edition of the survey since it was launched in 2020 to capture the views of Africa’s younger generation.

Despite the improved mood, the cost of living remains the biggest concern. Respondents said rising living costs have had the greatest impact on Africa over the past five years, ahead of political instability, deaths from infectious disease and the technological revolution. When asked what Africa most needs to move forward, 27 percent said the priority is creating well-paying jobs, while 25 percent pointed to reducing corruption in government.

The survey also found that young Africans are still strongly attached to democracy, but they want a version that works in African conditions. Seventy-three percent said democracy is always preferable to any other form of government. At the same time, 56 percent said Western-style democracy is not suitable for Africa and that a new African model is needed.

The report showed a similar pragmatism in foreign policy attitudes. Seventy percent of young Africans said the world is becoming more divided and dangerous, and 55 percent said their countries should prioritize partnerships with countries that can deliver practical benefits such as trade and investment, regardless of political system. By contrast, 42 percent favored alliances based on shared values, even if those partners are less effective.

Ivor Ichikowitz, founder and commissioner of the survey, said the improved outlook should not be mistaken for satisfaction. He said young Africans still believe in the continent, but are no longer willing to accept endless speeches without delivery. He said they want jobs, clean government, safety, business opportunities and a real voice in power.

The findings suggest that youth are not rejecting democracy, but are demanding a more effective version of it. Among the priorities they identified for such a model were national unity and stability, regular free and fair elections, leaders who deliver jobs and services, and greater community participation in decision-making.

The report also found that young Africans see economic and social conditions as central to security. While 70 percent said they feel safe in their country today, unemployment and poverty were identified as the biggest threats to safety in local communities. Asked what governments should do to improve security, 56 percent chose youth job creation, ahead of military spending and anti-corruption measures.

The continental picture, however, remains uneven. Rwanda recorded the strongest confidence in national direction, with 91 percent saying the country is moving the right way. Somalia also emerged as a notable positive case, with 82 percent saying the country is on the right track and 79 percent saying the economy is moving in the right direction.

Ghana, Ethiopia and Zambia showed the largest rebounds in confidence since 2024. In Ethiopia, concern about employment fell sharply and positive sentiment about the country’s direction rose significantly. By contrast, youth in Kenya, South Africa, Mozambique, Chad and Nigeria were among the most pessimistic about national direction, the economy and the wider global outlook.

The survey also showed that young Africans are paying close attention to global power shifts. The United States and China remain the two most influential external powers in their eyes, but China is viewed more positively by those who see its influence. Young respondents also said they would prefer leaders who can work with major powers to deliver tangible gains, while remaining wary of external partners that do not respect Africa’s interests.

The results point to a generation that is hopeful, but impatient. It wants economic progress, clean governance and a more authentic democratic model. Above all, it wants leaders who can turn optimism into action.

NBE bars former Global Bank CEO Tesfaye Boru for five years

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The National Bank of Ethiopia (NBE) has barred Tesfaye Boru, former Chief Executive Officer of Global Bank Ethiopia (GBE), from holding senior leadership roles in any financial institution for five years, citing repeated regulatory violations.

In a letter dated July 29, the central bank confirmed that Tesfaye was removed from his position following a special inspection of GBE. The review assessed the bank’s corporate governance, lending and credit administration practices, human resource management, foreign exchange operations, and overall financial management.

According to the NBE, the inspection revealed multiple deficiencies and breaches of both regulatory directives and the bank’s internal policies, which it said undermined the institution’s sound operations.

“The findings were subsequently discussed with the bank’s Board of Directors and senior management, where broad agreement was reached regarding the issues identified,” the central bank stated.

GBE later submitted a detailed response along with a corrective action plan addressing the identified shortcomings. However, the NBE said the severity of the findings, combined with Tesfaye’s prior regulatory record, warranted stronger enforcement action.

Citing earlier written warnings issued in May 2021 and November 2024, the central bank invoked Article 20(1) and (2) of the Banking Business Proclamation No. 1360/2025 and Article 10 of Directive No. SBB/89/2024 to justify its decision.

“Accordingly, based on the findings of the inspection, as well as the previous written warnings … you are removed from your position as Chief Executive Officer of GBE effective July 28, 2026,” the letter read.

In addition to his removal, Tesfaye has been prohibited from serving as a board member, chief executive officer, or senior executive in any financial institution operating in Ethiopia for five consecutive years, effective from July 28, 2026.

The regulatory action follows his dismissal by GBE’s Board of Directors last week.

Efforts to obtain comment from Tesfaye, GBE Board Chairman Yoseph Getachew, and Frezer Ayalew, Head of Banking Supervision at the NBE, were unsuccessful.

ESL Says Commercial Review Underway as Middle East Tensions Disrupt Shipping

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State-owned Ethiopian Shipping and Logistics (ESL) says it is closely monitoring the evolving security situation in the Red Sea and the wider Middle East, while weighing commercial options to keep Ethiopian cargo moving without disruption.

ESL Chief Executive Officer Abdulber Shemsu said the company is assessing whether to introduce feeder services in the region or reroute vessels on longer voyages, depending on how the situation develops.

“We will make our decision based on commercial analysis because the situation is still unfolding,” Abdulber told Capital. “Our priority is to ensure that goods destined for Ethiopian customers continue to move.”

He noted that the company has previously operated under difficult circumstances. During the height of the conflict between the United States and Iran, ESL vessels continued calling at the Port of Khor Fakkan in the United Arab Emirates to transport essential cargo for Ethiopia despite heightened security risks.
“Our diplomatic advantage has helped Ethiopian-flagged vessels continue operating in volatile waters,” he said.

The Red Sea, which had remained relatively calm for much of the past year, has become a renewed source of concern in recent weeks, adding to tensions already affecting the Persian Gulf. The deteriorating security environment has raised fresh concerns over global shipping, with cargo movements—including Saudi oil shipments—coming under pressure.

Since the escalation of the conflict in the Middle East, Yemen’s Ansarallah movement has threatened vessels and shipping companies linked to Israel or countries it considers to be supporting Israel. Despite those risks, ESL, which operates a fleet of 10 deep-sea vessels, has continued sailing through the region without interruption.

New uncertainty also emerged this week following reports that Ansarallah could seek to impose transit fees on ships passing through the Bab el-Mandeb Strait. In a statement issued on Wednesday, the Djiboutian government firmly rejected any unilateral attempt to levy charges on one of the world’s busiest maritime corridors, arguing that the strait is an international waterway where vessels enjoy the right of free navigation.

Ethiopian Shipping posts record profit despite regional security disruptions

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Ethiopian Shipping and Logistics (ESL) reported a sharp rise in profit for the 2025/26 fiscal year, overcoming regional conflicts, security threats and operational disruptions that affected its shipping activities.

According to the company’s unaudited annual performance report, ESL generated 157.2 billion birr in revenue after transporting more than seven million metric tons of cargo, achieving 108 percent of its annual target.

The state-owned logistics giant posted an unaudited net profit of 25.4 billion birr, significantly exceeding its planned profit of 17.5 billion birr. The result represents an increase of roughly 45 percent over the target, highlighting stronger-than-expected financial performance despite a challenging operating environment.

Presenting the annual report, Chief Executive Officer Abdulber Shemsu said the company faced multiple setbacks during the fiscal year. Among the major challenges were the prolonged grounding of one of its vessels for more than four months and fuel shortages that disrupted operations.

Despite those difficulties, he said the company’s efforts to improve operational efficiency and strengthen profitability helped offset potential financial losses and protected overall earnings.

ESL also generated USD 551 million in foreign currency revenue during the fiscal year, an increase of at least USD 50 million compared with the previous year.

The company noted that regional geopolitical tensions also affected its operations. The temporary disruption to maritime traffic linked to the Strait of Hormuz forced adjustments to some shipping services, adding pressure to an already difficult operating environment.