IN a significant move to tackle unemployment among young people in Côte d’Ivoire, the African Development Bank Group (AfDB) has approved loans totalling €139.68 million. This funding aims to foster youth entrepreneurship, boost job creation, and strengthen micro, small, and medium-sized enterprises (MSMEs) across key economic sectors.
The package includes €126.32 million from the Bank’s commercial arm and €13.36 million from its concessional African Development Fund. It is designed to enhance the socio-professional integration of young Ivorians, with a strong emphasis on gender parity and sustainable economic growth.
A standout element of the project is the creation of the Youth Entrepreneurship Investment Bank (YEIB). This institution will improve financial access for young entrepreneurs, offering services such as technical assistance, equity and quasi-equity financing, and loan guarantees. These measures are expected to encourage local banks to provide loans to young business owners, unlocking opportunities across the nation.
Transformative job creation across five key sectors
The initiative will train more than 8,700 young people, with women making up half of this group, in five high-potential sectors:
- Renewable energy
- Digital economy
- Agribusiness
- Blue economy
- Textile and clothing industry
By 2030, the project aims to create over 43,000 direct jobs and 153,000 indirect jobs, with 50 percent earmarked for women. Beyond training, at least 214 teacher-trainers will be equipped with advanced skills, and 12 entrepreneurship support organisations will receive assistance to bolster their effectiveness.
Joseph Ribeiro, Deputy Director General for West Africa at AfDB, emphasised the project’s importance: ‘This funding will help Côte d’Ivoire address the challenges of youth employment by equipping young people with the skills needed for a productive private sector,’ he stated.
Strengthening market-driven partnerships
The project will collaborate with trade confederations, private sector companies, incubators, service providers, and agricultural-industrial clusters. These partnerships will ensure that training programs align closely with market demands, thereby increasing the employability of young Ivorians.
The agribusiness sector, in particular, will benefit from the Bank’s Enable Youth program, which applies lessons and best practices from previous initiatives to scale up agricultural entrepreneurship.
Building a global standard training hub
As part of the plan, the national training centre for harbour master’s officers in Abidjan will undergo significant renovation. Advanced technical facilities, including a state-of-the-art port manoeuvres simulator, will bring the centre up to international standards, positioning it as a regional hub for technical maritime training.
This ambitious initiative reflects AfDB’s broader commitment to fostering inclusive growth and sustainable development across Africa. By equipping Côte d’Ivoire’s youth with the skills and resources to thrive, the project promises to lay the groundwork for a more prosperous and equitable future.
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