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Youth

Liberia Launches Africa's First Youth Entrepreneurship Investment Bank with $16 Million Initiative

Strategic Insights

— 2 min read

Liberia's President, Joseph Nyuma Boakai, and African Development Bank President, Dr. Akinwumi Adesina, jointly launched the Youth Entrepreneurship Investment Bank (YEIB) at the Ellen Johnson Sirleaf Ministerial Complex. The $16 million initiative aims to combat youth unemployment and jumpstart inclusive economic growth in Liberia. With over 60% of the country's population under the age of 35, many of whom are unemployed or underemployed, YEIB is poised to address this critical issue.

Key Takeaways:

  • The Youth Entrepreneurship Investment Bank (YEIB) is Africa's first institution of its kind, with a focus on financing, mentoring, and incubating youth-led businesses in Liberia.
  • YEIB is a key pillar of President Boakai's ARREST Agenda, targeting Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism as strategic sectors for national revival.
  • The bank's launch comes at a time when Liberia is experiencing high levels of youth unemployment, with over 60% of the population under the age of 35.
  • The African Development Bank (AfDB) has invested over $1.02 billion in Liberia since 1967, with 18 active projects currently valued at $408 million.
  • President Boakai praised AfDB President Dr. Akinwumi Adesina's tenure at the Bank, noting that the capital base grew from $93 billion to $318 billion in just ten years under his leadership.
  • Dr. Adesina emphasized the need for performance contracts for ministers and a presidential award system to incentivize teamwork and inter-agency collaboration.
  • The AfDB president also highlighted the importance of reengineering Liberia's civil service and ensuring judicial independence to achieve national development.
  • The launch of YEIB is a critical step towards transforming Liberia's economy and empowering its youth, according to President Boakai and President Adesina.

Statistics:

  • Over 60% of Liberia's population is under the age of 35, many of whom are unemployed or underemployed.
  • The African Development Bank (AfDB) has invested over $1.02 billion in Liberia since 1967, with 18 active projects currently valued at $408 million.
  • The AfDB's capital base grew from $93 billion to $318 billion in just ten years under the leadership of Dr. Akinwumi Adesina.
  • Dr. Adesina's tenure at the AfDB has impacted 565 million Africans through its High 5s strategy, delivered 128 million people access to healthcare, improved transportation for 121 million, ensured food security for 104 million, connected 28 million to electricity, and mobilized $225 billion in private capital through the African Investment Forum.
  • The AfDB launched the $25 billion Africa Adaptation Acceleration Program (AAA-P), the largest climate adaptation initiative globally.

Sources:

  • The Liberian Investigator, Copyright 2025. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com).
  • African Development Bank (AfDB)

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