{"id":75208,"date":"2024-06-05T17:56:45","date_gmt":"2024-06-05T17:56:45","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali"},"modified":"2024-06-05T18:12:36","modified_gmt":"2024-06-05T18:12:36","slug":"rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali","title":{"rendered":"Rwanda, AfDB in talks to extend Pan-African youth bank to Kigali"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>If conversations between the African Development Bank (AfDB) and the Government of Rwanda go as planned, Rwanda will be among countries to host one among the many proposed youth entrepreneurship investment banks.<\/p>\n

This was recently confirmed by the President of the AfDB, Akinwumi Adesina, during the closing press conference of AfDB\u2019s Annual Meetings in the Kenyan capital Nairobi.<\/p>\n

AfDB board of directors has already approved a $16 million youth investment bank in Liberia and $12 million for Ethiopia, and a few more in the pipeline.<\/p>\n

\u201cI was talking to President Paul Kagame about one for Rwanda, as you know he is very pro-entrepreneurship for young people, and it\u2019s going to be coming up,\u201d Adesina told the presser.<\/p>\n

A youth investment bank would typically extend financing towards young people who are creatinginnovations and businesses with potential to generate jobs across the continent and potential for wealthcreation.<\/p>\n

According to AfDB, the initiative to establish youth entrepreneurship investment banks is intended toprovide both debt and equity financing for businesses of young people in African countries.<\/p>\n

Adesina lamented that current systems of commercial banks and other financial institutions are not accommodating for young people, noting it is completely pointless to ask for a land title as collateral from a 21-year-old youth seeking financing.<\/p>\n

\u201cWhen young people go to the bank, they only see risks in them but not innovation, creativity and capacity to create wealth. We believe that young people are not risks but we need to put our resources at risk on their behalf because if we don\u2019t, that will be the biggest risk Africa has,\u201d he said.<\/p>\n

Investing in young people<\/p>\n

President Paul Kagame has been a strong advocate of increased investment in young people.<\/p>\n

At the 7th Edition of the Future Investment Initiative in 2023, he emphasised that investing in Africa\u2019s youth and in the right way would quickly stimulate development on the continent.<\/p>\n

Data from the Ministry of Public Service and Labour indicate that the number of jobs created in Rwanda increased from 146,000 in 2014 to 235,332 in 2023, implying a 61 per cent rise within the last decade.<\/p>\n

However, AfDB noted that while 10 to 12 million young people enter Africa\u2019s labour markets each year, only three million formal sector jobs are being created as Africa\u2019s private sector has remained small and not industrialised enough to keep up with the labour market demand for decent jobs.<\/p>\n

With the youth investment bank, the development bank aims to finance youth entrepreneurship and innovation with a focus on emerging economic sectors, such as the creative industries, and climate-smart, digital and artificial intelligence (AI)-enabled businesses.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. If conversations between the African Development Bank (AfDB) and the Government of Rwanda go as planned, Rwanda will be among countries to host one among the many proposed youth entrepreneurship investment banks. This was recently confirmed by the President of the AfDB, Akinwumi Adesina, during the closing press conference of AfDB\u2019s Annual […]<\/p>\n","protected":false},"author":84,"featured_media":75207,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[760,763,758],"class_list":["post-75208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\nRwanda, AfDB in talks to extend Pan-African youth bank to Kigali - Rwanda<\/title>\n<meta name=\"description\" content=\"If conversations between the African Development Bank (AfDB) and the Government of Rwanda go as planned, Rwanda will be ...\" \/>\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\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rwanda, AfDB in talks to extend Pan-African youth bank to Kigali\" \/>\n<meta property=\"og:description\" content=\"If conversations between the African Development Bank (AfDB) and the Government of Rwanda go as planned, Rwanda will be ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-05T17:56:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-05T18:12:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2024\/06\/sm_1717598409.623057.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"632\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Rwanda, AfDB in talks to extend Pan-African youth bank to Kigali\",\"datePublished\":\"2024-06-05T17:56:45+00:00\",\"dateModified\":\"2024-06-05T18:12:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali\"},\"wordCount\":453,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2024\/06\/sm_1717598409.623057.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-afdb-in-talks-to-extend-pan-african-youth-bank-to-kigali\",\"name\":\"Rwanda, AfDB in talks to extend Pan-African youth bank to Kigali - 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