Financing young African entrepreneurs to curb rising unemployment

The need for African banks to financially support African youth in their entrepreneurial projects in order to curb rising unemployment came to the fore at the Africa Business Forum held in Abidjan, Ivory Coast, in prelude to the 5th EU-Africa summit, which kicks-off on Wednesday, November 29.

A call that was reiterated by Akinwumi Adesina, President of the African Development Bank(AfDB), who urged thought leaders to change their mindset when it comes to dealing with the youth.

“I think we have to change our mindset when it comes to dealing with issues of young people…What I think young people actually really need is youth investment,” he said.

Ivorian Prime Minister, Amadou Gon Coulibaly, opined that the recent footage of “slave markets” in Libya illustrated a decisive turning point between Europe and the African continent, and it is now necessary more than ever to pool efforts to make the most of a population with enormous potential .

The forum highlighted the need for Africa to accelerate industrialization, transform its agricultural sector and invest more on entrepreneurship, as well as the digital space.