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Youth Entrepreneurship: Microsoft and AfDB Strengthen Partnership

29/09/2022
Categories: Companies

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On Monday, September 26, a press release was issued notifying that the American IT giant Microsoft has strengthened its partnership with the African Bank of Dé Development (BAD). This is with the aim of helping young people to realize their business ideas.

Youth entrepreneurship contributes in large part to solving the problem of the lack of jobs. However, the sector continues to suffer from a lack of investment and the lack of affordable access to funding sources. To this end, Microsoft and the African Development Bank have decided to support the entrepreneurial spirit among young Africans. This idea is also part of the establishment of the Investment Bank for the Promotion of Entrepreneurship among Young People (YEIB) in Africa.

According to Solomon Quaynor, Vice President of the African Development Bank for Private Sector, Infrastructure and Industrialization, this agreement will allow “to better exploit the Africa's demographic dividend and to create millions of new jobs for young Africans by 2025.” It will therefore contribute to the development of entrepreneurial ecosystems for young people, as well as to the creation of new jobs and support digital inclusion in Africa.

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