{"id":191578,"date":"2022-05-28T21:05:39","date_gmt":"2022-05-28T20:05:39","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=191578"},"modified":"2022-05-28T21:05:56","modified_gmt":"2022-05-28T20:05:56","slug":"afdb-were-developing-investment-banks-for-youth-owned-businesses","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/05\/28\/afdb-were-developing-investment-banks-for-youth-owned-businesses\/","title":{"rendered":"AfDB: We&#8217;re developing investment banks for youth-owned businesses"},"content":{"rendered":"<p>African Development Bank (AfDB) has stated that it is designing financial institutions that will invest in business owned by youths.<\/p>\n<p>This was stated on Friday by\u00a0<span class=\"acssf62a8\">Akinwumi Adesina, president, AfDB at the end of the bank\u2019s 2022 annual meetings in Accra, Ghana.<\/span><\/p>\n<p>According to\u00a0<span class=\"acssf62a8\">Adesina, the investment banks would help youths get capital, provide jobs and create wealth for the younger generation.<\/span><\/p>\n<p><span class=\"acssf62a8\">He added that the plan would be finalised by June this year.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cWe are designing renewed<a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/05\/08\/ngige-lied-we-are-yet-to-suspend-our-strike-research-institutions\/\"> financial institutions<\/a> that will invest into the business of the youths and Ghana is one of the benefitting countries,\u201d he said.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cWe have 13 countries and we expect to finish that design by the end of June.\u00a0<\/span>It will give youth-based businesses more opportunities to train, invest, create jobs for themselves, and succeed on our beautiful continent.<\/p>\n<p>\u201cThis project reinforces the affirmative finance action for women in Africa initiative (AFAWA), through which the bank has made $420 million available for women\u2019s businesses in 2021. This will be increased to $500 million in 2022&#8243;.<\/p>\n<p><span class=\"acssf62a8\">Adesina also said the bank had invested $1 billion in special agro-industrial processing zones to curb food losses.<\/span><\/p>\n<p>He said some countries such as Zambia, Nigeria, Ghana, Cote d\u2019Ivoire, Mauritius, and Mozambique, among others will benefit from it.<\/p>\n<p><span class=\"acssf62a8\">\u201cThese are the new investments the bank is making and will be close to the areas that the farmers are producing, enabled with water, infrastructure, logistics so that the food and agriculture processing companies can be located close to the zones,\u201d Adesina added.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cThe processing companies in most countries are not located in the rural areas because there is no infrastructure in the rural areas.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cWhat we are trying to do with the processing zones is to reduce the cost of doing business for the food and agriculture companies, so that they can off-take from the farmers and process them there.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cWe lose too much of our food and the consequence is that we start complaining about carbon emissions, producing and not having any impact and that affects the prices of food that eventually gets to the market.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cPost-harvest losses are what I can describe as pouring water into a bucket that has holes, you have to stop the leakage but in developed countries, post-harvest losses are as a result of too much food, you can\u2019t eat it, you throw it away but in Africa, it is not like that.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>African Development Bank (AfDB) has stated that it is designing financial institutions that will invest in business owned by youths. This was stated on Friday by\u00a0Akinwumi Adesina, president, AfDB at the end of the bank\u2019s 2022 annual meetings in Accra, Ghana. According to\u00a0Adesina, the investment banks would help youths get capital, provide jobs and create [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":72292,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[38],"tags":[38770,8982,1504,4160,38771],"class_list":["post-191578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","tag-accra-ghana","tag-african-development-bank-afdb","tag-femi-adesina","tag-financial-institutions","tag-youth-based-businesses"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AfDB: We&#039;re developing investment banks for youth-owned businesses<\/title>\n<meta name=\"description\" content=\"African Development Bank (AfDB) has stated that it is designing financial institutions that will invest in business owned by youths.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/05\/28\/afdb-were-developing-investment-banks-for-youth-owned-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AfDB: We&#039;re developing investment banks for youth-owned businesses\" \/>\n<meta property=\"og:description\" content=\"African Development Bank (AfDB) has stated that it is designing financial institutions that will invest in business owned by youths. 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