AfDB, Global Center on Adaptation Launch $1bn Climate Initiative for African Youths

In a resounding call for action on the empowerment of African youth, Akinwumi Adesina, President of the African Development Bank (AfDB), has recently announced a groundbreaking initiative at the African Climate Youth Assembly ahead of the Africa Climate Summit.

The initiative, aptly named ‘Youth Adapt,’ is a collaborative effort between the AfDB and the Global Center on Adaptation, aiming to invest $1 billion in climate adaptation projects led by African youths.

Adesina passionately conveyed the essence of ‘Youth Adapt’ during his address, emphasizing its commitment to nurturing the innovative spirit of young Africans. This initiative seeks to provide vital seed financing for creative ideas and businesses conceived and managed by the continent’s dynamic youth.

The AfDB President highlighted the program’s track record, revealing that it had already funded over 33 youth-led businesses across 19 African countries.

Remarkably, some of these enterprises have not only flourished but have also experienced a staggering 200 percent increase in profits.

Adesina articulated his vision: “The African Development Bank, together with the Global Center on Adaptation, has a program called Youth Adapt. We’ve invested $4 million in supporting the ideas and businesses of young people, providing seed financing. If these businesses succeed, they receive additional financing and eventually access growth capital to expand their enterprises. We’ve already seen 33 businesses in 19 countries thrive, with a 200 percent profit increase. Today, I’m pleased to announce that we will launch a $1 billion Youth Adapt initiative to further empower African youth.”

Kenyan President William Ruto, also present at the assembly, echoed Adesina’s sentiment and commitment to investing in the future of young Africans.

He recognized that the continent’s youth represented its largest asset and emphasized the importance of providing them with quality education and green skills.

Ruto urged fellow African leaders to follow suit, saying, “We must invest in our young people so that they are prepared to address the challenges of the future.” This call to action resonates strongly with the shared vision of nurturing Africa’s youth to become the driving force behind the continent’s growth and development.

The ‘Youth Adapt’ initiative’s launch represents a significant milestone in the quest to empower Africa’s youth, fostering an environment where their creativity and innovation can flourish in addressing climate challenges.

With a billion-dollar investment, it is poised to drive tangible change across the continent, propelling young entrepreneurs to the forefront of Africa’s sustainable future.