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AFDB to scale up financing for youth entrepreneurship and innovation in Africa

On 17 May 2021 the President of the African Development Bank, Dr. Akinwumi A. Adesina, will host a virtual roundtable on how to scale up financing for youth and innovation in Africa by establishing a Youth Entrepreneurship Investment Bank .

The COVID-19 pandemic has worsened the state of African youth, who face a myriad of socio-economic challenges due to unemployment, lack of education and access to finance.

Harnessing the entrepreneurial potential of Africa’s youth as a powerful engine and demographic dividend holds great potential for sustainable development on the continent. However, they lack appropriate financing mechanisms and capacity-building facilities.

To address these constraints, the African Development Bank is developing a proposal to establish Youth Entrepreneurship Investment Banks.

The virtual roundtable will bring together African and other stakeholders from across the globe interested in providing solutions to the hurdles faced by youth entrepreneurs and small and medium-sized businesses.  Participants will discuss the early stage proposal for Youth Entrepreneurship Investment Banks, with a focus on its rationale and resource requirements.

 President Adesina will be joined by Mr. Jean Michel Severino CEO of IPDEV, Remy Rioux, CEO of Agence Française de Développement and Mr. Ashish Thakkar, President, Mara Group and current Chair of the African Development Bank Presidential Youth Committee.

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