YEIB-MANCO targets 30,000 Liberian youth for entrepreneurship support

The Youth Entrepreneurship and Investment Bank Management Company (YEIB-MANCO) has announced plans to support at least 30,000 young Liberians directly and an additional 120,000 indirectly. Established through an initiative by the African Development Bank Group and the Government of Liberia, the institution aims to transform young people from job seekers into entrepreneurs and job creators.

CEO Joseph F. Sando stated that the organization will address critical barriers to local business growth, such as high interest rates, strict collateral requirements, and limited access to long-term financing. Rather than acting solely as a traditional lender, YEIB-MANCO will integrate financing with business incubation, technical assistance, and coaching services.

The initiative intends to operate across all 15 Liberian counties, with a specific focus on women and youth. Support will target sectors including agriculture, technology, logistics, light manufacturing, and recreation. To ensure sustainability, beneficiaries will undergo training and incubation to assess capabilities and strengthen business viability before receiving funds.