Africa-Press – Liberia. The initiative, backed by a $16 million commitment from the AfDB, is aimed at changing the future of thousands of young Liberians by shifting them from job seekers to job creators.
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, on Tuesday, July 22, officially launched the Youth Entrepreneurship Investment Bank (YEIB) in Monrovia ushering hope for Liberia’s struggling youth population.
The initiative, backed by a $16 million commitment from the AfDB, is aimed at changing the future of thousands of young Liberians by shifting them from job seekers to job creators.
Delivering his message to an audience that included President Joseph Boakai, cabinet ministers, development partners, and Liberians, Dr. Adesina declared that “The future of Liberia’s youth cannot be left to hustle. It’s time to invest in the youth of Liberia. The rain of hope is falling.”
Dr. Adesina painted a sobering picture of Liberia’s youth situation. With 71% of the country’s 5.7 million people under the age of 35, Liberia is undeniably a youth nation. But the economic situation tells a different story.
The AfDB estimates that youth underutilization in Liberia is at 76%, a figure driven by high unemployment and widespread dependence on informal, low-paying jobs. The mismatch between education and job market demands, coupled with poor digital and entrepreneurial skills, has left thousands of young people stranded without meaningful income.
“Many have degrees, but no jobs,” Adesina noted, referencing remarks made by President Boakai at a Cabinet meeting earlier this year. “If the government fails to tackle these challenges, we will be in trouble,” Boakai warned in March.
At the core of the YEIB initiative is a belief that young Liberians need more than training—they need access to finance, equity, and patient capital to launch their business ideas. Currently, Liberia’s youths are missing Middle in Liberia’s financial ecosystem.
Dr. Adesina explained that while Liberia’s financial sector has commercial banks serving large corporates and microfinance institutions for the smallest businesses, there is a gap in between—a “missing middle” that leaves thousands of young entrepreneurs unsupported.
“The big banks are too big. The microfinance institutions are too small. We need a tailored solution for youth,” Adesina stressed.
What is YEIB? A Bank for the Youth, by the Youth
The Youth Entrepreneurship Investment Bank of Liberia is not your ordinary bank. It is a government-enabled, but not government-run institution that is being built to function with private sector leadership and independence.
It will operate under a management holding company with three key vehicles: Early-Stage Equity Fund – Provides long-term capital to youth-led businesses via equity or quasi-equity. Technical Assistance Fund – Offers training, financial literacy, business preparation, and non-financial support, Credit Guarantee Fund – Helps reduce lending risks by providing guarantees so young people aren’t turned away due to lack of collateral.
“When a young person walks into a bank, they’re asked to bring 40 years of tax records when they’re only 18,” Adesina joked, drawing laughter and applause. “YEIB will change that.”
According to the AfDB, YEIB aims to finance 6,000 youth-led businesses, reach over 30,000 entrepreneurs, and create 120,000 new jobs across Liberia.
In addition, it is projected to generate $18 million in additional tax revenues for the Liberian government—a point that drew a wide smile from Finance Minister Augustine Ngafuah, whom Adesina jokingly referred to during his remarks.
YEIB will focus on strategic growth sectors such as agriculture, agribusiness, digital services, tourism, and mining—sectors with untapped potential for youth participation.
Dr. Adesina praised Liberia for being the first country on the continent to launch the Youth Entrepreneurship Investment Bank, a bold step that others in the region are expected to follow.
He gave special recognition to Rufus Darkortey, Liberia’s Executive Director at the AfDB, who played a major role in securing board approval for the $16 million financing.
He also thanked the Mastercard Foundation for supporting the design of the bank.
“This is a proud moment for Liberia,” Adesina said. “And it is only the beginning.
In addition to YEIB, the AfDB will support Liberia with Business Innovation and Development Centers across the country. These centers will provide business development services and help formalize and scale youth-led enterprises.
Adesina emphasized that the YEIB will operate with strong corporate governance and a private sector-led board. The process to recruit a CEO and executive team is already underway, with full operations expected by early 2026.
Dr. Adesina ended his speech on a powerful note: “We are at a historic moment that will change the future of Liberia’s youth. Let us turn misery into hope. Hope into wealth. Let us create youth-based wealth across Liberia—and let’s do it together.”
Addressing, President Boakai emphasized the importance of the newly launched Youth Bank, describing it as one of the most exciting and forward-looking initiatives supported by the AfDB in Liberia.
Said President Boakai, “Perhaps one of the most exciting initiatives we launch today is the Youth Entrepreneurship Investment Bank. This speaks directly to the heart of our future because over sixty percent of our population is under the age of thirty.”
President Boakai noted that the YEIB would empower young Liberians by equipping them with skills, mentorship, financing, and opportunities to lead in key sectors such as agriculture, technology, and the knowledge economy.
“This program gives hope to our young people by turning them from job seekers into job creators,” he said. “It aligns perfectly with our ARREST Agenda, which places strong emphasis on economic revitalization and private sector growth.”
The Liberian Leader urged Dr. Adesina and his eventual successor to consider the Liberty Corridor Project—a bold infrastructure dream that seeks to link Liberia to Guinea, Burkina Faso, and Mali.
“While this project is fundamentally about regional integration and shared prosperity, we must admit, we would also love to play the role of a gateway for our landlocked neighbors to access the Atlantic,” Boakai said with a hopeful smile.
He described the initiative as a potential game-changer for the region, capable of transforming trade, transport, and investment.
As Dr. Adesina prepares to exit the stage as AfDB President, President Boakai assured him that his legacy in Liberia would remain strong and visible.
“The programs you have championed will continue to make an impact for years to come,” Boakai said. “You have invested in real solutions that touch lives every day.”
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