My name is Jason Susanna Anquandah. I have a Bachelor of Science Degree in Actuarial Science at Kwame Nkrumah University of Science &Technology (KNUST). I also obtained a Masters of Science in Mathematical Sciences at the African Institute for Mathematical Sciences (AIMS) in Tanzania. I am currently a PhD student at the Department of Statistics in Leeds. I desire to always be the best I can and meet all goals I set for myself and this has greatly contributed to making me the person I am today.
“Large Youth Bulge; is the term used to describe the age population distribution in Africa. With the “large youth bulge”, there is a high fertility rate and low death rate, which has led to a rapid increase in the population size of Africa. Also, there is a drastic improvement in the quality of education received by Africa’s youth population as well as a tremendous increase in Africa's economic growth. However, there is an imbalance in Africa’s economy as a whole because the economic and social development is relatively slower than the swiftly increasing reservoir of human capital being harnessed and channelled towards the productive sectors of the economy. Thus, contributing the continuous and consistent rise in the rate of unemployment in Africa. Literature shows that countries such as South Africa, Algeria, Egypt, Mauritius, Seychelles, Tunisia, Nigeria, Kenya, Rwanda, Ghana and Egypt are so far the only African countries reported to provide a fully functioning unemployment insurance schemes. Improving employment opportunities is a challenge and this has put a strain on the few unemployment insurance schemes that exist. Hence, there is a need to help curb the unemployment situation by developing new insurance scheme models. Based on this, the research aims to develop stochastic models for graduate unemployment insurance scheme that will include both internal and external factors that are likely to impact the process dynamics. The study will help invariably provide policymakers with compelling evidence on how they can build a stronger link between the education sector and the labour market, hence ensuring graduates generate the growth and strong societies Africa needs to maximize its potential and opportunities (Hempel, 2010: Kaseke, 1997).