Mr. Akinwunmi Adesina, President of the African Development Bank says Youth unemployment and high poverty are the major factors contributing to insecurity in Africa.

Adesina issued this statement at a diplomatic luncheon he hosted in Abidjan, Cote D’ Ivoire for Ambassadors.

“I do not believe that the future of Africa’s youth lies in Europe, the USA, Latin America, Asia, or anywhere else in the world.

“Their future must lie in an Africa that is growing well, with inclusive growth, and able to deliver quality jobs and livelihoods for its youth,” Adesina said.

With 477 million youth under 35, Africa has a demographic advantage that shouldn’t be exploited by other countries.

He stated that the goal of the bank’s employment for Youth in Africa initiative was to train 50 million young people and generate 25 million new employment.

“I am delighted that the Independent Development Evaluation Department of AfDB found that the bank’s work has created 12 million jobs—three million directly and nine million indirectly.

“The bank is implementing several initiatives to expand economic opportunities and enhance skills for the youths.

“This includes technical and vocational training, computer coding for employment, and an Enable Youth programme in agriculture to develop entrepreneurs in food and agriculture,” he said. 

“Our coding for employment programme now operates in four countries and is establishing 130 coding centres of excellence across the continent to expand digital skills for the youth.

“Our Affirmative Finance Action for Women, with the goal of mobilizing five billion dollars for women businesses, is showing huge success.

“By the end of last year, $1.5 billion in loans had been approved to women entrepreneurs.” 

Improving the lives and standard of living of Africans is, in his opinion, a major focus of the bank’s activities.

He noted that the AfDB Board of Directors has also endorsed the bank’s plan for high-quality health infrastructure in order to address the deficiencies in health infrastructure across Africa.

Over the next decade, he said, the bank would invest $3 billion to support the construction of health infrastructure throughout Africa. (NAN)