President of the African Development Bank, Dr Akinwumi Adesina, on Friday pushed youth investment in Nigeria’s agribusiness.
This was disclosed by adeshina in his keynote address at the Council of Anglican Provinces of Africa Primates and Wives’ Retreat in Abuja, according to The Punch.
The speech themed “Food Security and Financial Sustainability in Africa: The Role of the Church”.
Adesina emphasized the critical role of youth in transforming Nigeria’s agriculture industry and highlighted the success stories of a few young entrepreneurs.
He stated that the program had already helped 41,000 enterprises and created 63,000 jobs, demonstrating enormous potential for economic growth.
Addressing the urgent issue of youth migration out of Africa, Adesina described his emotional journey to Goree Island in Senegal, a historic site of the trans-Atlantic slave trade.
He drew parallels between the historical forced migration and the current perilous journeys taken by young Africans in search of better opportunities abroad.
“Sad that Africa’s future lies within the continent, where equitable growth and quality jobs could be created,” he said.
Adesina emphasized the need for new financial institutions, such as entrepreneurship investment banks, committed to assisting young entrepreneurs.
He highlighted the shortcomings of present financial systems, which place excessive demands on young people, limiting their capacity to acquire funding and succeed.
Adesina criticized superficial political empowerment programs and advocated for significant investments in youth companies and ideas to create sustainable development.
He “said, “The AfDB’s recent approvals, including $16 million for Liberia’s Entrepreneurship Investment Bank and $32 million for Ethiopia, reflect the bank’s commitment to this vision.”
He therefore, called for a concerted effort to empower Africa’s youth, ensuring that their potential was harnessed to build a prosperous future for the continent.
