MadfoatCom provides global electronic presentment and payment services for businesses and individuals. We believe that when our women and youth thrive, our communities will thrive. With our initiative and the help of CFYE, we aim to unlock the potential of women and youth in Jordan and neighbouring countries by creating employment opportunities and sustainable change.
In Jordan, young people, especially women, lack employment opportunities while they also lack the necessary skills and training to enter the workforce. This makes it challenging for them to find decent employment, make a decent living and thrive personally and financially.
The youth in Jordan is facing one of the most difficult labour markets in decades. Unemployment in Jordan is immoderate compared to the worldwide average and the region, with a 41% unemployment rate. Youth unemployment in Jordan is at a rate of 25%, which is twice as high as the global average. These rates are even higher among women, who are disproportionally affected by unemployment, underemployment, or vulnerable employment.
It is important that immediate intervention is implemented to address the unemployment issue in Jordan. We want to contribute to positive change by creating job opportunities for youth in the financial technology sector.
Our initiative aims to build a job creation network for marginalized, excluded, and underemployed youth and women in our communities. Our target demographic for this initiative is Jordanian and Palestinian women are youth aged 20-35 who have been unsuccessful to secure employment opportunities and aspire to establish long-term careers. The primary focus is on recruitment in Amman, specifically in refugee camps, Zarqa, and East-Amman and candidates from all governorates with a particular emphasis on Maán and Mafraq.
We are committed to assist 1000 women and youth to get out of the underemployment or unemployment zone by providing them with training, guidance, and internship opportunities. We hope that our initiative will make them either valuable employees at MadfoatCom’s local companies or make them dependent self-employed workers under MadfoatCom agents in either Jordan or Palestine. Additionally, we want to prioritize the well-being of our current and future employees by offering benefits and activities that promote equality, financial stability, and physical and mental health.
Overall, we will match 150 youth and women with jobs with our partners, create employment opportunities within MadfoatCom for 850 youth and women and improve our work environment for our current and future 1000 employees in Jordan and Palestine. In sum, we will create, match, and improve a total of 1000 jobs.
With the support of CFYE, we will be able to recruit the necessary expertise to ensure our efforts in this initiative are sustainable. It will help us to make sure that even in the upcoming years after the initiative, we can help more young people and women gain employment in Jordan. The technical assistance offered by CFYE enables us to optimize the quality and relevance of the courses and training provided.
The impact of CFYE is also concentrated on time; its support will boost the process and enable faster value realization from the project. Additionally, its help will help us increase the pool of our target group and expand into other geographical locations, such as Palestine.