GonetAfrica, Gonet Academy Applaud GOL, and AfDB for YEIB Launch

Paynesville, Liberia – July 23, 2025 — GonetAfrica and Gonet Academy commend the Government of Liberia and the African Development Bank (AfDB) for the official launch of the Youth Entrepreneurship Investment Bank (YEIB), making Liberia the first country on the African continent to achieve this milestone. The launch of this landmark initiative, held on July 22, 2025, in Monrovia, was officiated by H.E. Joseph Nyuma Boakai, President of the Republic of Liberia, and Dr. Akinwumi A. Adesina, President of the AfDB Group, signaling a new era of youth-driven economic transformation in Liberia.

YEIB is designed to promote private sector-led development by unlocking entrepreneurship opportunities for young Africans aged 18–35. It represents a major national initiative aimed at addressing youth unemployment, expanding access to finance, and equipping young entrepreneurs with the capital, skills, mentorship, and technical support necessary to establish sustainable enterprises and drive Liberia’s growth agenda. This African Development Bank Group initiative aligns strongly with Liberia’s ARREST Agenda for Inclusive Development (AAID), particularly pillar 1: Economic Transformation, as well as global, continental, and regional development frameworks, including the UN Sustainable Development Goals (SDGs), the AU Agenda 2063, and the ECOWAS Regional Youth Strategy.

Liberia’s Youth: A Nation’s Opportunity Facing Urgent Challenges

Liberia, like much of Africa, has a youth-majority population, with more than 60% of citizens under the age of 35. However, many young people remain economically disenfranchised due to limited job opportunities, lack of entrepreneurial exposure, inadequate training, and restricted access to capital.

The Liberia Youth Entrepreneurship Investment Bank seeks to reverse this trend with ambitious projections: it aims to finance 30,000 youth-led businesses, generate 120,000 direct and indirect jobs, contribute $80 million to government revenues through taxes, and unlock up to $500 million in additional lending to youth-owned enterprises across the country.

YEIB presents a bold solution to Liberia’s longstanding challenges and systemic barriers. By positioning young people as economic actors—creators of jobs, not just seekers—this initiative creates a clear pathway toward inclusive development, economic transformation, local innovation, and national resilience.

The African Development Fund jointly finances the initiative—AfDB’s concessional financing arm—with a contribution of $15.9 million, and $1.2 million in in-kind support from the Government of Liberia, making it a total of $17.1 million investment.

Gonet Academy’s Impact: Building Foundations for a Productive Future

Since its establishment, Gonet Academy, the training and capacity-building arm of GonetAfrica, has equipped over 3,000 youth and professionals with practical and technical skills through 20+ professional certificate and diploma programs. These include entrepreneurship and business management, project management, financial literacy, ICT, health and safety, supply chain, and leadership training.

Notably, more than 300 young Liberians have completed Gonet Academy’s entrepreneurship and business management programs, gaining real-world skills to launch and sustain micro and small businesses across sectors. These programs are tailored to close the gap between academic knowledge and the demands of the job market, while fostering creativity, innovation, and financial sustainability.

“Our mission has always been to transform education into empowerment,” said Mohammed Kerkulah, Founder & CEO of GonetAfrica and Gonet Academy. “YEIB is exactly the kind of bold, strategic investment needed to backstop the energy, ideas, and entrepreneurial spirit we see in our students and young people every day. We look forward to supporting its rollout early 2026 through entrepreneurship training, business incubation, mentorship, and capacity support for aspiring youth-led enterprises.”

Strategic Alignment with Gonet Academy’s Vision

The YEIB initiative powerfully reinforces Goal 5 of Gonet Academy’s 2025–2029 Strategic Plan: “Fostering Entrepreneurship and Innovation for Sustainable Development.” This goal aims to nurture entrepreneurial talent, encourage creative problem-solving, and promote innovation as a tool for economic transformation and sustainable development.

Wilcom Duncan, Growth and Innovation Strategist at GonetAfrica, noted, “This initiative is timely and visionary. It affirms the central role of young people in shaping the future of Liberia. But to succeed, it must be built on a foundation of training, mentorship, and systems that hold space for ideas to grow. That’s where we come in. We are ready to partner to ensure the youth have the capacity to manage, grow, and scale their ventures.”

Recommendations for Achieving Sustainable Impact

To maximize the effectiveness and long-term sustainability of the YEIB, GonetAfrica, and Gonet Academy recommend:

1. Capacity-Building First
   Business support must begin with training and capacity building. YEIB should prioritize partnerships with training institutions like Gonet Academy to equip young entrepreneurs with knowledge in business planning, business management, financial literacy, and compliance.
2. Decentralized Access
   Youth in rural counties face added constraints. A county-level outreach mechanism will ensure nationwide participation, equity, and impact.
3. Support Green and Digital Enterprises
   YEIB should fund youth-led solutions in agribusiness, climate-smart innovation, ICT, and e-commerce, aligned with AfCFTA opportunities and Agenda 2063 aspirations.
4. Establish Monitoring, Evaluation, Accountability, and Learning Systems (MEAL)
   Tracking outcomes is key. A transparent and robust MEAL system should accompany the rollout to measure effectiveness, ensure accountability, and promote adaptive learning.
5. Leverage Public-Private Partnerships
   Collaboration with the private sector, NGOs, and innovation hubs will help incubate and scale viable ideas and technologies.

Conclusion: A Generation Poised to Build

The launch of the Youth Entrepreneurship and Investment Bank is not just an initiative—it is a promise. A promise that Liberia recognizes its youth as co-builders of the nation’s future. GonetAfrica and Gonet Academy remain committed to working alongside government and partners to bring this vision to life.

Together, let us unlock the potential of our youth, elevate entrepreneurship, and position Liberia as a hub of innovation, prosperity, and purpose-driven growth.