AfDB and Equatorial Guinea Partner in €58M Youth Inclusion Deal

The African Development Bank Group and the Republic of Equatorial Guinea recently signed a €58.61 million financing agreement aimed at enhancing youth inclusion and employment opportunities across strategic sectors.

This partnership reflects broader continental efforts to equip young Africans with the skills, capital, and opportunities needed in a rapidly evolving economic landscape. Investments like this amplify the impact of larger initiatives such as the AI 10 Billion Initiative, creating a supportive ecosystem for innovation, entrepreneurship, and sustainable growth.

The forum underscored the need for interoperable data systems, ethical governance standards, workforce upskilling and partnerships that link investors with innovators.

The AI 10 Billion Initiative draws on the African Development Bank’s June 2025 report, “Africa’s AI Productivity Gain: Pathways to Labor Efficiency, Economic Growth and Inclusive Transformation,” which outlines a phased approach to preparing African economies for AI.

The strategy highlights five critical enablers, data, compute capacity, skills, trust and capital, as essential for building AI readiness and ensuring the continent benefits from emerging digital opportunities.

At the launch, Nicholas Williams, Manager of the Bank Group’s ICT Operations Division, said the Bank is using its position as a leading multilateral development institution to make sure Africa participates fully in the AI era.

He noted that the initiative will help strengthen ecosystems that support AI entrepreneurs, expand data infrastructure and promote inclusive growth across diverse sectors.

Jean-Luc Stalon, UNDP’s Resident Representative in Kenya, highlighted UNDP’s role in building practical partnerships with the private sector that can turn AI potential into real job creation and improved livelihoods in communities.

The AfDB estimates that wider adoption of AI technologies could contribute as much as US $1 trillion to Africa’s gross domestic product by 2035, through improved productivity, new industries and expanded digital economies.

Over the next 10 months, the Bank plans a series of engagements with governments, investors and development partners to secure commitments, build alliances and turn the AI 10 Billion Initiative’s goals into tangible projects.