Microsoft is expanding its partnership with the African Development Bank (AfDB) to support youth entrepreneurs across the continent under the bank’s Youth Entrepreneurship Investment Banks (YEIB) initiative.
Through its African Transformation Office, Microsoft will work with the AfDB to develop entrepreneurship ecosystems, create jobs, and scale digital inclusion across Africa, the companies announced in September 2022.
Building on existing collaboration
“We believe much can be done to help foster youth entrepreneurship by collaborating with the African Development Bank, driving greater economic inclusion for this key segment of the population,” Wael Elkabbany, General Manager of Microsoft Africa Regional Cluster, said. He cited the success of existing joint initiatives such as Coding for Employment, which aims to equip millions of young Africans with employable skills.
Solomon Quaynor, AfDB Vice President for Private Sector, Infrastructure and Industrialisation, said the strengthened partnership was “an important development in our journey towards harnessing Africa’s demographic dividend and facilitating the creation of millions of jobs for young Africans by 2025.”
How the YEIB model works
The YEIB initiative establishes national-level institutions through a public-private collaboration model to provide technical and financial support for youth entrepreneurs. The partnership will bring together governments, private sector players, development finance institutions, and civil society organisations to coordinate resources.
Microsoft’s contribution focuses on digital skills training, cloud technology access, and mentorship programmes, while the AfDB provides the institutional framework and financing channels. The initiative targets countries where youth unemployment is highest, with the aim of turning entrepreneurial activity into a viable path for economic participation.
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