By Gwurld4026 
Youths Need Capital, Not ₦10,000 Freebies: AfDB Insights
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), has emphasized that African youths require substantial capital investments rather than minimal “empowerment” handouts like ₦10,000 to effectively address the ongoing “Japa” migration trend.
In a recent interview on Channels Television’s Sunrise Daily, Adesina criticized the current financial systems, stating they are ill-equipped to support young entrepreneurs. He highlighted that Africa’s youth population, numbering over 465 million individuals aged 15 to 35, represents a significant demographic asset. However, without proper investment in skills development and access to capital, this potential remains untapped.
To address this, the AfDB has initiated the Youth Entrepreneurship Development Bank and approved $100 million to establish the Nigerian Youth Entrepreneurship Investment Bank. This initiative aims to mobilize $2 billion to support over 38,000 youth-led businesses across Africa.
Adesina also expressed concern over the “Japa” phenomenon, where young Africans migrate abroad in search of better opportunities. He argued that the future of Africa’s youth should be rooted in the continent, contributing to its growth and prosperity.
For a more in-depth understanding of Dr. Adesina’s perspectives, you can watch the full interview below: