MONROVIA – A milestone occurrence to redefine youth empowerment and entrepreneurship in Liberia, and Africa in general, took places today, with the Government of Liberia (GoL) and the African Development Bank Group (AfDB) launching Africa first-ever Youth Entrepreneurship Investment Bank (YEIB). The initial capital of the bank has been put at US$17.8 million, an initiative designed to transform youth-led innovation into a driver of national development and job creation.
The initiative will directly support more than 150 youth-led businesses and also is expected to generate thousands of jobs, boost Liberia’s startup ecosystem, and unlock over US$500 million in lending over time, according to the AfDB.
The YEIB was officially launched by the visiting Dr. Akinwumi Adesina, the outgoing President of the AfDB, who is on a high-level visit to Liberia from July 21–23. His visit marks a significant moment in Liberia’s development journey and coincides with the final months of his decade-long presidency at the Bank.
Dr. Adesina, who was elected AfDB President on May 28, 2015, in Abidjan, Côte d’Ivoire, is globally acclaimed for his bold leadership in agriculture, youth development, infrastructure, and inclusive finance.
As his second term nears completion in September 2025, his visit to Liberia serves not only to launch a major program but also to solidify his legacy of catalytic development initiatives across Africa — especially those that empower youth and entrepreneurs.
“This bank is not just about capital — it is about unlocking the dreams, creativity, and enterprise of Africa’s greatest asset: its youth,” Dr. Adesina said in a recent statement ahead of the launch.
While in Liberia, Dr. Adesina will hold key bilateral meetings with President Joseph Nyuma Boakai, and senior members of the cabinet. These discussions will center on Liberia’s economic roadmap, AfDB’s ongoing portfolio in the country, and avenues for deeper collaboration under the Boakai administration’s ARREST Agenda.
One of the key highlights of Dr. Adesina’s mission to Liberia is the official unveiling of the Youth Entrepreneurship Investment Bank and an accompanying Innovation Bureau during a grand ceremony at the Ellen Johnson Sirleaf Ministerial Complex in Monrovia.
As chief launcher, Dr. Adesina inaugurated what is being described as a “flagship model for youth empowerment in Africa” – a platform that blends financial inclusion, skills training, innovation support, and policy guidance.
The YEIB is intended to close critical gaps that have long constrained young Liberians: limited access to finance, inadequate technical support, and the absence of institutions tailored to the needs of emerging entrepreneurs.
“Our youth don’t need handouts — they need opportunities,” Dr. Adesina has repeatedly said throughout his tenure. “YEIB is that opportunity. It is an African solution for an African challenge.”
The bank will operate through a collaborative framework involving both public and private sector actors, including local financial institutions, development agencies, business incubators, and youth-led networks.
In recognition of his outstanding service to Africa and Liberia, the Government of Liberia will confer national honors on Dr. Adesina during his visit. The ceremonial tribute will highlight his unwavering support for Liberia’s development, including AfDB’s investments in agriculture, roads, energy, water and sanitation, and now, youth entrepreneurship.
Dr. Adesina’s leadership at the AfDB has been marked by ambitious and results-driven initiatives such as the Jobs for Youth in Africa Strategy, the High 5 Development Priorities, and significant responses to global shocks including COVID-19 and food insecurity.
“Dr. Adesina has been more than a partner — he has been a friend to Liberia and a visionary for the continent,” said a senior official at the Ministry of Finance and Development Planning.
The visit underscores the deepening partnership between Liberia and the AfDB, with both sides reaffirming a shared commitment to sustainable development, inclusive economic growth, and the empowerment of future generations.
Liberia continues to benefit from a broad AfDB project portfolio, including support to roads and infrastructure development, agriculture value chains, water and sanitation projects, and now, digital transformation – including the recently launched US$30 million governance digitization project supported by the Bank. Meanwhile, financial experts, youth advocates, business executives, applaud this initiative as it will go a long way to alleviate the financial strains young businesses encounter in a striving economy in Liberia. According to these pundits, this financial move is a major boost to young entrepreneurs who have set their minds on reaching greater heights in business.
