I don’t think we’re doing enough for African youths, AfDB boss Adesina says

THE President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has affirmed that plans are underway to establish a youth entrepreneurship investment bank for young Africans.

Dr. Adesina made this known in a statement on Monday during a virtual meeting where he received the African Leadership Magazine’s African of the Year Award as outgoing holder.

The AfDB President said the term ‘empowerment of youths’ is not meaningful to him as he believes not much have been done for African youths who can develop the fintech and digital economy in Africa.

“Today in Africa, I don’t think we are doing enough for Africans. One-third of the population is between the age of 15 and 35. Sixty per cent of the population is below 25, he said.

“We must invest in the youth now and, I don’t like the word ‘empowerment of the youth’. It doesn’t mean anything to me. The youth need investment to unlock their skills; they don’t need handouts.”

The AfDB boss added, “How we invest in them will determine Africa’s future. They are talented, many of them have gone to school. Unfortunately, they face issues like unemployment. I see the youths as assets and I have said that the bank will put its resources to unlock a new type of financial ecosystem around Africa’s youth.

“I see them developing fintech industries, digital economy across the continent but they need financing. We will launch youth entrepreneurship investment banks; they will be specialised banks for the youths.”

The Governor of Bayelsa State, Douye Diri, who was also present at the event, called out for investments into the state, citing the negative impact of the Covid-19 pandemic on his tenure.

He said, “We came into a COVID-19 world. I say this because we assumed office on February 14 2020. As soon as I came into office, not quite a month, the COVID-19 started. We appeared to have lost about a year to COVID-19 and other unidentified issues.”

Governor Diri further called for investments in the oil, gas and agricultural sectors of the state, figuring on the benefits the said investment result to.