Liberia has laid the foundation for what is being hailed as a social project of hope for the country’s youth. In a pivotal moment for social and economic development, Monrovia has inaugurated the Youth Entrepreneurship Investment Bank (YEIB) — the first of its kind in Africa — designed to change the lives of thousands of young people and open new opportunities across the continent.
In a country where more than 60% of the population is under the age of 35 and youth unemployment remains critically high, Liberia is taking a historic step toward empowering its young generation and driving sustainable economic growth. The bank aims to directly support the creation of over 150 youth-led businesses, generate decent jobs, and pave new pathways to financing. Over the next decade, the initiative is expected to unlock up to $500 million in additional loans, representing an unprecedented impact on Liberia’s youth economy.
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The official launch was preceded by an expanded cabinet meeting convened by President Joseph Nyuma Boakai, Sr., bringing together ministers, lawmakers, state enterprise leaders, and judiciary officials. The meeting highlighted the YEIB as a strategic engine of social transformation — not only providing capital but also equipping young people with training, mentorship, and financial tools to turn their ideas into viable enterprises.
Unlike traditional banks, the YEIB introduces an innovative three-tier model. It combines early-stage equity investment, technical assistance for business development, and credit guarantee mechanisms to reduce risk and encourage lending. This approach aims to eliminate the historic barriers that have kept young entrepreneurs on the margins of formal economic systems. While the YEIB addresses Liberia’s urgent national needs, it also marks the beginning of a continental initiative. Liberia is the first country to host the bank, with similar institutions soon to be launched in Nigeria, Ethiopia, and Côte d’Ivoire, as part of a regional strategy to boost youth entrepreneurship and reduce dependency on external solutions.
The creation of the YEIB has been made possible through a partnership between the Government of Liberia, the African Development Fund, and international allies such as the Korea-Africa Economic Cooperation, with a combined initial investment of $17.8 million. With this groundbreaking initiative, Liberia is investing in its youth as the true drivers of transformation, sending a clear message to the continent: Africa’s future is in the hands of its young people — and now is the time to invest in them.
