The President of the African Development Bank (AfDB), Akinwumi Adesina has declared that the failure to invest in youths by leaders will hurt the African continent in the nearest future.
He made this declaration on Saturday while announcing a new $1 billion facility to accelerate climate financing for Africa’s youth businesses at a high-level intergenerational dialogue with the theme “Africa Driving Climate Adaptation Solutions and Jobs,” held at the Wangari Maathai Institute of Peace and Environment, Nairobi, Kenya.
“Africa’s youth are the present. It is their views and perspectives that are going to change the continent,” Adesina said. “Failing to invest in the youth will hurt Africa, failure is not an option.”
Announcing the $1 billion-dollar additional funding, the Adesina said African youths do not want “little things being doled out to them. We have no option but to invest in our youths.”
Read Also: Industrial Revolution Vital For Nigeria’s Growth – Adesina
The additional financing, according to Adesina, will boost YouthAdapt, a joint initiative between the Bank and the Global Centre on Adaptation.
The group is presently inviting young entrepreneurs and micro, small, and medium enterprises in Africa to submit innovative solutions and business ideas that have the potential to drive climate change adaptation and resilience across the continent.
The institute, which is funded by the African Development Bank, was officially opened in 2022.
Over the past two years, YouthAdapt has provided more than $1.5 million to 33 young entrepreneurs across 19 African countries. Some have gone on to raise their profits by 200%.
Adesina had a fortnight ago urged the Tinubu‘s administration to chart a path toward prosperity for Nigeria.
During his keynote speech at the Business Day Chief Executive Officers (CEO) Forum in Lagos, Dr Akinwumi Adesina, the President of the African Development Bank (AfDB), highlighted the need for President Bola Tinubu’s administration to establish the correct direction for Nigeria’s prosperity.
It is worth noting that the keynote is titled: ‘Awakening the Lion’s Might! Charting Nigeria’s Path to Becoming a Global Industrial and Economic Titan’.
Adesina made a striking analogy between Nigeria’s circumstances and the narrative of Simba in The Lion King, wherein Simba faced multiple challenges but ultimately reclaimed his rightful place as King after the loss of his father.