Akinwumi Adesina, President of African Development Bank (AfDB), on Tuesday disclosed the institution’s plan to establish Youth Entrepreneurship Investment Banks.
This was contained in his inaugural speech during his swearing-in on Tuesday in Abidjan, Côte d’Ivoire.
He expressed confidence that the banks would help to mobilise and deploy capital to drive the entrepreneurship.
“The shadows of youth unemployment and migration out of Africa must give way to a glowing light of successful youth-driven businesses across Africa.”
Adesina said youths must stay in Africa and develop the continent.
He assured that technology would be scaled up technologies to reach tens of millions of farmers.
The AfDB President added that special attention would be given to regional industrial value chains and the strengthening of financial markets.