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AFDB President, Adesina Prioritises Youth Empowerment In Africa

On the 1st of September, 2020, Akinwumi Adeshina was sworn in the Africa Development Bank President for the second term.

Akinwumi Adesina who has recorded many successes as the AFDB President in his first term with his chief achievement as increasing AFDB’s capital from $93 billion to $203 billion.

In his inaugural speech delivered, he emphasises the development of the Africa economy with youth empowerment.

Akinwumi Adesina said that a vision for Africa cannot be outlined without factoring in the future leaders that are, the youth. As such, the Bank will look at establishing Youth Entrepreneurship Investment Banks.

Africa Development Bank (AFDB) will ensure Africa’s youth potential is fully unleashed. In this regard, the Bank will support the establishment of Youth Entrepreneurship Investment Banks. 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.

By this, the shadows of youth unemployment and migration out of Africa will give way to a glowing light of successful youth-driven businesses across Africa. Af

The main priority of the Banks will be to mobilize and deploy capital to drive the entrepreneurship of the youth of Africa. Instead of seeing youth migrate out of Africa, the Banks will also help in reducing unemployment and making sure that African youth ‘stay in Africa’.

Furthermore, (AFDB) will build on the great successes in agriculture, by scaling up technologies to reach tens of millions of farmers and supporting Africa to build competitive agricultural value chains.

Hence adding value to what is being produced in Africa, and provide creative and high-tech opportunities for massive youth engagement in agriculture and agribusiness amongst many other outstanding plans curated for Africa’s growth.

He also said this will help Africa build back boldly and smartly as despite the effect of Covid-19 on the economy it has also opened new opportunities for the continent to tap into for sustainable development.

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