- AfDB Eyes 25m Jobs From Transformation
African Development Bank (AfDB) is seeking economic transformation of the continent with its “Jobs for Youth Initiative” expected to create 25 million jobs by 2025. Among other things, the initiative puts special emphasis on the agric sector.
Through its Jobs for Africa’s Youth Initiative, the lender will support digital literacy, logical thinking and computational skills in secondary and primary schools and support coding academies that will drive advanced computational skills for employment. Through the co-development model, AfDB will work in partnership the European Investment Bank and private equity funds to help boost businesses of young people by leveraging $5 billion to support the businesses of young entrepreneurs.
Its Chief Economist and Vice-President, Celestin Monga, at the fifth KOAFEC Ministerial Conference in Seoul, South Korea, said the bank recognised the potential of Africa to become a global powerhouse in food and agribusiness, lifting millions out of poverty. For this potential to be realised, the continent has to undergo an agricultural revolution.