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Youth

Nigeria and AfDB Launch $100 Million Initiative to Support Young African Entrepreneurs

Strategic Insights

— 1 min read

The Nigeria Sovereign Investment Authority and the African Development Bank are set to launch a $100 million initiative to provide structured financing for young Africans. The initiative aims to support young entrepreneurs in fintech, agri-tech, and health-tech, providing them with access to financing opportunities. Vice President of the Nigeria Sovereign Investment Authority, Abraham Durosanwo, emphasized the importance of developing bankable ideas, understanding markets, pricing, and value propositions to attract investors.

Key Takeaways:

  • The $100 million initiative will provide structured financing for young Africans in fintech, agri-tech, and health-tech.
  • The initiative is a joint effort between the Nigeria Sovereign Investment Authority and the African Development Bank.
  • Vice President of the Nigeria Sovereign Investment Authority, Abraham Durosanwo, emphasized the importance of developing bankable ideas and understanding markets to attract investors.
  • Durosanwo highlighted the importance of awareness, stating that a recent funding programme received 5,000 applications, demonstrating that young people can find opportunities if they are aware of them.
  • Durosanwo urged young people to use digital tools and artificial intelligence to stay informed about grants, loans, and investment opportunities.
  • The initiative aims to support young entrepreneurs in scaling local solutions to global platforms.
  • Durosanwo emphasized the importance of young people participating in decision-making spaces where financing and policies are shaped.

Statistics:

  • $100 million: The amount of the initiative to provide structured financing for young Africans.
  • 5,000: The number of applications received for a recent funding programme, highlighting the potential for young people to find opportunities if they are aware of them.
  • 9 months: The duration of Durosanwo's involvement in working with the federal government in Nigeria to set up both an investment bank and a development bank targeted at the youth.

Sources:

  • Global Data Point. (2025). Nigeria and AfDB Launch $100 Million Initiative to Support Young African Entrepreneurs.
  • BusinessDay. (n.d.). Beyond borders: young voices, global choices.

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