AfDB Urged to Boost Support for Female Entrepreneurs and Young Innovators

The entrepreneurs shared their perspectives during a panel discussion themed “Our world, our experience,” marking the AfDB's 60th anniversary celebrations.

Young African entrepreneurs have called on the African Development Bank (AfDB) to expand its support for female entrepreneurs and youth-driven innovations to help alleviate poverty and tackle unemployment. The entrepreneurs shared their perspectives during a panel discussion themed “Our world, our experience,” marking the AfDB's 60th anniversary celebrations.

Jean-François Yao, Regional Policy Advisor at the International Committee of the Red Cross (ICRC), praised the Bank's approach of integrating humanitarian responses into development initiatives. He highlighted the success of a joint pilot project empowering women in the Sahel, transforming the lives of vulnerable women in Chad, Mali, and Niger.

Yao noted the inspiring story of a Malian woman who expanded her small doughnut business into a successful venture, thanks to a grant from the project. Her transformation underscores the importance of empowering women in crisis-affected regions. The AfDB's partnership with the ICRC, bolstered by a memorandum of understanding in 2023, also launched a humanitarian project in South Sudan, aimed at benefiting one million displaced people.

Private sector representatives emphasized the need for the Bank to increase visibility and diversify its operations to develop Africa’s private sector, a crucial provider of jobs. Ivorian entrepreneurs, including Christelle Essim Egue, Lamin Barro, and Stéphane Aka-Anghui, shared their experiences of working with the Bank and discussed the future of business in Africa.

Christelle Essim Egue, founder of Pam Holding, credited the AfDB’s Affirmative Finance Action for Women in Africa (AFAWA) initiative for helping her scale her doughnut business. With financing through ECOBANK, she is now preparing to expand into palm oil production.

Lamin Barro, CEO of IT solutions start-up Etudesk, emphasized the need for more support for young African innovators. He suggested creating incubators in universities to foster “education entrepreneurship,” enabling students to start businesses during their studies.

Stéphane Aka-Anghui, Executive Director of Côte d'Ivoire's General Confederation of Businesses (CGECI), stressed the importance of industrializing Africa and creating jobs through innovative start-ups. He noted the Ivorian government’s goal of creating eight million jobs by 2030, which he believes can be achieved by nurturing one million businesses across the country.

The panelists urged the AfDB to continue its efforts in empowering Africa’s young entrepreneurs and business leaders, particularly women, to drive job creation and economic growth across the continent.