Eight dynamic African young women-led businesses emerged as winners of the 2023 YouthAdapt challenge. Each company will receive grant funding of up to $100,000.
They will also receive comprehensive mentorship and coaching as part of a 12-month accelerator program. Since its launch in 2021, the YouthADAPT initiative (https://apo-opa.co/49ZU0zH) has provided more than $5 million to 33 young entrepreneurs from 19 African nations.
Jointly organized by the African Development Bank Group and the Global Center on Adaptation (https://GCA.org) and supported by the Africa Climate Change Fund (https://ACCF.AfDB.org), YouthADAPT is an annual competition for young entrepreneurs leading micro-, small- and medium-sized enterprises in Africa with innovative climate change adaptation solutions.
This year’s focus was on female-owned enterprises pioneering Fourth Industrial Revolution (4IR) technologies such as artificial intelligence, big data analytics, virtual reality, robotics, Internet of Things, quantum computing, additive manufacturing, blockchain, and fifth-generation wireless for climate adaptation.
Speaking at the ceremony held on the sidelines of COP28 in Dubai, the President of the African Development Bank, Dr. Akinwumi Adesina, emphasized the importance of harnessing youth ideas and creativity to enhance livelihoods and national prosperity.
Adesina said: “The Jobs for Youth in Africa and the Skills Employability initiatives at the Bank stand as a testament to our commitment to creating 25 million jobs for our youth, ensuring that 250 million individuals find their path to the labor market. The Youth ADAPT initiative is a pledge to invest in the youth and shape a thriving future.”
Professor Patrick Verkooijen, CEO of the Global Center on Adaptation, stressed the need to nurture Africa’s youth talent. “Young people hold the key to unlocking Africa’s economic potential. Through initiatives like the YouthADAPT awards, we provide opportunities for training and jobs to retain African talents at home.”
During a panel discussion, Cheryl Urban, Canada’s Assistant Deputy Minister for Sub-Saharan Africa, spoke about the critical role development finance institutions can play. “The African Development Bank’s YouthADAPT program provides crucial support in scaling up youth-led climate businesses and innovations in Africa. Canada is proud of being a contributor to the initiative.”
Dr Beth Dunford, the African Development Bank’s Vice President for Agriculture, Human, and Social Development, stressed the importance of supporting entrepreneurs in tackling climate change. She also emphasized the need to remove barriers to finance, particularly for women.
The African Union Youth Envoy, Chido Cleopatra Mpemba, underscored the need to foster effective information-sharing mechanisms across regions.
Lucy Wangari, one of this year’s award recipients from Onion Doctor, a firm that monitors onion growth, said the award would motivate her to do more. “It is a significant driver in scaling (our) innovative solution to boost local onion production by 20% and transform the onion value chain into a lucrative employment source for farmers in Kenya’s arid and semi-arid Lands.”
Past winners shared experiences about how the grant empowered their ventures. Fela Akinse, CEO of Salubata—a business converting plastic waste into affordable footwear- emphasized how the funding propels their business expansion and innovation of clean technologies, helping them generate global impact.
The winning ventures, led by women from across Africa, focus on sectors affected by climate change: agriculture, energy efficiency, disaster risk management, water resources, and biodiversity conservation.
