This archive report was first published on 28 October 2019.
On October 28, 2019, the African Development Bank and Seedstars World, a Swiss-based startup competition in emerging markets, announced a partnership to support youth employment and entrepreneurship in Africa.
The partnership aligns with the Bank's Jobs for Youth in Africa (JfYA) strategy, which aims to create 25 million jobs and equip 50 million young people with skills to enhance their employability and entrepreneurial success by 2025.
As part of the partnership, Seedstars World will add a new criterion, 'the potential for job creation,' to its local competition winners. The African Development Bank will select and award the startup demonstrating the most potential for sustainable job creation with three months' access to the Seedstars investment readiness program.
The Bank will also be the main partner for the remaining local bootcamps, as well as a two-day private bootcamp during the Seedstars Africa Summit on December 2-5, 2019, with an emphasis on improving gender balance across all activities.
Tapera Jeffrey Muzira, Jobs for Youth in Africa Coordinator, said, 'This is a spectacular initiative which will jump-start Africa's encouragement of youth involvement in business enterprise and job creation.'
