The African Development Bank says it has strengthened partnership with Microsoft to scale technical and financial support for young entrepreneurs.

According to a statement, the partnership with the African Development Bank to support Africa’s youth entrepreneurs was part of the bank’s Youth Entrepreneurship Investment Banks (YEIB) initiative.

Through its African Transformation Office, Microsoft would work with the bank to develop youth entrepreneurship ecosystems, creating jobs and dramatically scaling impact in Africa through digital inclusion, the statement said.

With Africa’s young population expected to double in size by 2050 to 830 million, youth employment is likely to be on the rise, according to the statement.

The noted that youth entrepreneurship would go a long way to solving the employment challenge in Africa, but lack of investment, affordable access to finance and quality business development services still presented significant hurdles.

Pun/

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