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2 clusters · 5 sources · 17 days · First seen · Last updated

Liberian youth entrepreneurship initiative

Overview

The Liberian government launched the Youth Entrepreneurship and Investment Bank (YEIB) initiative to create approximately 120,000 jobs. Finance and Development Planning Minister Augustine Kpehe Ngafuan stated the program would provide capital, training, and guarantees to roughly 37,000 youth-led businesses, with eligible entrepreneurs aged 18 to 35 potentially receiving up to US$20,000 in low-risk financing.

Following this, the Youth Entrepreneurship and Investment Bank Management Company (YEIB-MANCO), established via an initiative by the African Development Bank Group and the Government of Liberia, detailed its operational strategy. CEO Joseph F. Sando noted the organization aims to support 30,000 young Liberians directly and 120,000 indirectly by addressing barriers such as high interest rates and strict collateral requirements.

YEIB-MANCO intends to integrate financing with business incubation, technical assistance, and coaching across all 15 counties, focusing on sectors like agriculture, technology, and manufacturing, with a specific emphasis on women and youth.

Entities

Nigeria · African Development Bank Group · Youth Economic Intervention and De-Radicalisation Programme · Joseph F. Sando · Liberian Government

Timeline

  1. [BUSINESS] 2 sources
    YEIB-MANCO targets 30,000 Liberian youth for entrepreneurship support

    YEIB-MANCO, backed by the African Development Bank and the Liberian government, aims to support 30,000 youth entrepreneurs through a combination of financing, technical assistance, and business incubation.

  2. [BUSINESS] 4 sources
    Liberia targets 120,000 jobs via youth entrepreneurship program

    Liberia is launching the Youth Entrepreneurship and Investment Bank (YEIB) to create 120,000 jobs by providing financing and training to 37,000 youth-led businesses.

Sources

digitalchew.com · elbcnews.com · frontpageafricaonline.com · newspublictrust.com · verityonlinenews.com