{"id":6603,"date":"2022-01-05T14:16:58","date_gmt":"2022-01-05T14:16:58","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses"},"modified":"2022-01-05T15:20:39","modified_gmt":"2022-01-05T15:20:39","slug":"afdb-bolsters-innovative-youth-businesses","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses","title":{"rendered":"AfDB bolsters innovative youth businesses"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Liberia. <\/strong><\/span>THE African Development Bank has made funds available targeting early-stage innovative businesses as well as youth and women-owned businesses in Africa.<\/p>\n<p>The bank (AfDB) approved an equity investment pool of \u20ac10,5 million (N$181,7 million) towards the first close of the Janngo Start-Up Fund, a pan-African tech start-up fund.<\/p>\n<p>The pooled investment also promotes the Boost Africa Program, a project between the contributing partners and the European Investment Bank to support investment funds that target early-stage innovative enterprises across sub-Saharan Africa.<\/p>\n<p>The support for the Janngo Start-Up Fund also aligns with the AfDB&#8217;s jobs for youth strategy, in addition to the support for private sector-led growth and entrepreneurship in African economies.<\/p>\n<p>The Janngo Start-Up Fund, managed by Janngo Capital, builds, grows and invests in tech start-ups with proven business models and inclusive social impact.<\/p>\n<p>The pooled funds comprise \u20ac7 million (N$127,7 million) provided by AfDB and a \u20ac3,5 million (N$631,3 million) contribution from the European Union and the Organisation of African, Caribbean and Pacific States.<\/p>\n<p>The bank&#8217;s director for financial sector development, Stefan Nalletamby, said the Janngo Fund could drive the transformation from a more traditional business ecosystem into a dynamic, youth-driven, and technology-focused entrepreneurial community.<\/p>\n<p>\u201cAfrica is experiencing rapid mobile penetration with Android and other platforms. This provides huge opportunities to develop innovative and high-growth-driven start-ups and SMEs (small and medium enterprises). But there is a severe scarcity of risk capital for the new and upcoming first generation of venture capital funds targeting early-stage businesses,\u201d Nalletamby said.<\/p>\n<p>The fund is envisaged to enhance the private sector by deploying technology-enabled business models for SMEs that address the needs of under-served populations, create significant employment opportunities for youth and women, and improve the quality of life for Africans.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/liberia\">Liberia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Liberia. THE African Development Bank has made funds available targeting early-stage innovative businesses as well as youth and women-owned businesses in Africa. The bank (AfDB) approved an equity investment pool of \u20ac10,5 million (N$181,7 million) towards the first close of the Janngo Start-Up Fund, a pan-African tech start-up fund. The pooled investment also [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":6602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,237,234],"class_list":["post-6603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AfDB bolsters innovative youth businesses - Liberia<\/title>\n<meta name=\"description\" content=\"THE African Development Bank has made funds available targeting early-stage innovative businesses as well as youth and w ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB bolsters innovative youth businesses\" \/>\n<meta property=\"og:description\" content=\"THE African Development Bank has made funds available targeting early-stage innovative businesses as well as youth and w ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses\" \/>\n<meta property=\"og:site_name\" content=\"Liberia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-05T14:16:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-05T15:20:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/01\/img-61d5b7311114f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"308\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AfDB bolsters innovative youth businesses\",\"datePublished\":\"2022-01-05T14:16:58+00:00\",\"dateModified\":\"2022-01-05T15:20:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses\"},\"wordCount\":302,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/01\/img-61d5b7311114f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Liberia\",\"Liberia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/afdb-bolsters-innovative-youth-businesses\",\"name\":\"AfDB bolsters innovative youth businesses - 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