- The funding will target young entrepreneurs and micro, small, and medium enterprises with innovative solutions to drive climate change adaptation and resilience throughout Africa.
- YouthAdapt has already disbursed over $1.5 million to 33 young entrepreneurs across 19 African nations.
- Failing to invest in the youth will hurt Africa; failure is not an option – AfDB President Akinwumi Adesina.
The African Development Bank (AfDB) President Akinwumi Adesina has unveiled a $1 billion fund aimed at propelling climate financing for youth-led businesses across Africa. The initiative, known as YouthAdapt, is a partnership between the AfDB and the Global Centre on Adaptation.
YouthAdapt is designed to empower young entrepreneurs and micro, small, and medium enterprises with innovative solutions to drive climate change adaptation and resilience throughout Africa.
Dr Adesina made the announcement during a High-Level Dialogue titled “Africa Driving Climate Adaptation Solutions and Jobs,” held at the Wangari Maathai Institute of Peace and Environment, generously funded by the AfDB and officially inaugurated in 2022.
Climate Innovation
The event witnessed the presence of the 8th Secretary General of the United Nations, Ban Ki Moon, Graça Machel, Chair of the board of trustees of the Graça Machel Trust and the African Child Policy Forum, GCA’s CEO Patrick Verkooijen, Kenya’s Cabinet Secretary for Youth Affairs, the Arts and Sports Ababu Namwamba, Anne Beathe Tvinnereim, Norway’s Minister of International Development, and Kerrie Simmonds, Minister of Foreign Affairs for Barbados, among other dignitaries.
In his address, Dr Adesina stressed that African youth aspire for substantial investments rather than mere token support. “We have no option but to invest in our youths,” he emphasized.
YouthAdapt has already made a significant impact over the past two years, disbursing over $1.5 million to 33 young entrepreneurs across 19 African nations. Some of these ventures have witnessed a remarkable 200 per cent increase in profits.
“Africa’s youth are the present. It is their views and perspectives that are going to change the continent,” Dr Adesina declared. “Failing to invest in the youth will hurt Africa; failure is not an option.”
Secretary General Ban Ki Moon encouraged the youth to transcend national boundaries and hold their leaders accountable for climate adaptation promises. “Challenge your leaders today. Use your voting power to ensure climate adaptation and finance are a priority.”
Climate Adaptation Offers Opportunities
Cabinet Secretary Ababu Namwamba highlighted Kenya’s ambitious initiative of recruiting a one-million-strong youth Green Army as Climate Action Warriors to support President William Ruto’s plan to plant 15 billion trees within a decade. This initiative aims to increase Kenya’s forest cover from 12 per cent to 30 per cent.
Namwamba also noted that Kenya was the first country to ratify the Sports for Climate Action Initiative under the United Nations Framework Convention on Climate Change, enabling sports organizations to engage in climate action consistently and collaboratively.
Patrick Verkooijen, CEO of the Global Centre on Adaptation, conveyed a stark but hopeful message: “Adapt or die.” He emphasized that adaptation offers opportunities, asserting that with the right tools, finance, and the amplification of voices, the youth can be unstoppable.
The event culminated with the presentation of the Youth4Adaptation Communiqué, urging global leaders to involve youth in climate adaptation decision-making and to double financial commitments to adaptation by 2025.
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Environmental Conservation
This communiqué, representing the aspirations of young people from 135 countries worldwide, underscores the importance of youth voices in shaping climate action.
To pay homage to the late Professor Wangari Maathai, a renowned environmentalist and Nobel laureate who founded the Green Belt Movement and championed community-based environmental conservation, Adesina and other dignitaries planted trees on the grounds of the Wangari Maathai Institute. They expressed deep admiration for her lasting legacy of environmental conservation and social justice.
The launch of the $1 billion fund marks a significant milestone in the global effort to combat climate change by engaging and empowering Africa’s youth, who are poised to become the driving force behind innovative climate solutions for a sustainable future.
