By Moses kaketo
The President of African Development Bank (AfDB) Group Dr Akinwumi Adesina has said that the Bank is working to establish youth entrepreneurship development Banks.
He says the banks will help to mobilize and deploy capital to drive the entrepreneurship of the youth of Africa — in ways that are ‘‘systemic, scalable and sustainable’’
He made the revelation while speaking about Africa’s priorities, as a guest at the Atlantic Council’s Africa Center on Friday. ‘’ we are not just talking about empowering young people, but doing it, invest & nurture enterprises more towards young wealth towards Africa’’
Adesina first made the revelation In 2020 while giving his inaugural speech during a virtual ceremony of his the swearing-in in Abidjan, Côte d’Ivoire.
He said the shadows of youth unemployment and migration out of Africa must give way to a glowing light of successful youth-driven businesses across Africa. Africa’s youth must stay in Africa, develop Africa, and project Africa’s future.
Adesina said that the bank would build on the “great successes” it had had in agriculture.
He said this would be done by scaling up technologies to reach tens of millions of farmers and supporting Africa to build competitive agricultural value chains.
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The bank will also add value to what was produced agriculturally in Africa and provide creative and high-tech opportunities for massive youth engagement in agriculture and agribusiness.
Special attention will also be given to regional industrial value chains and the strengthening of financial markets.