Equity Group CEO James Mwangi. [Photo/samrack.com]

Is there a story unfolding in your community? Let Hivisasa know

Kenya could reduce unemployment by 20 percent if the youth embraced entrepreneurship as opposed to waiting for white collar jobs.

Equity Group CEO James Mwangi says the financial services sector can be critical in creating high-impact entrepreneurship key in unlocking the potential of economic growth.

About four in every 10 Kenyans of working age have no jobs, most of them the youth.

To help address this, the youth are being encouraged to embrace entrepreneurship which experts believe could help the country reduce by half the unemployment rate.

Mwangi believes that high impact entrepreneurs grow faster, create more jobs, contribute more to society, and transform industries when compared to their peers.

He believes that the financial services sector can be critical in creating high-impact entrepreneurship key in unlocking the potential of economic growth.

According to a 2014 report by the World Economic Forum, entrepreneurship decreased unemployment by 20%, because high impact entrepreneurs grow faster, create more jobs, contribute to society, and transform industries to a greater extent than their peers.