Akinwumi Adesina: “Africa’s Youth Don’t Need Freebies—They Need Capital”

The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has once again stirred a crucial conversation on youth development in Africa, emphasizing that what the continent’s young population needs is not handouts but serious financial investment to unleash their potential.

Speaking during an interview on Channels Television’s Sunrise Daily, Adesina described Africa’s “youth bulge” as a demographic asset that must be converted into an economic asset through aggressive investment in human capital development and financing.

“Young people don’t need freebies. They don’t need people saying: ‘I just want to give you an empowerment programme’. What they need is capital—real investment in their ideas,” Adesina stressed.

On ‘Japa’: A Brain Drain Crisis

Adesina also weighed in on the ‘japa’ syndrome—the growing trend of young Nigerians emigrating in search of better opportunities abroad. He lamented that this mass migration is a huge loss for Africa and a symptom of a larger failure to invest in its youth.

“I do not believe that the future of our young people lies in Europe, America, Canada, Japan, or China. It should lie in Africa—growing well, growing robustly, and creating quality jobs.”

He warned that Africa is on the verge of outsourcing its demographic strength to other economies, thereby depriving the continent of a vibrant, productive future workforce.

The Financial System: Built to Exclude the Youth?

Adesina didn’t mince words in criticizing Africa’s financial systems, calling them ill-suited for youth inclusion.

“The whole of the banking system is not designed for young people. It has failed them. Why are we surprised they are leaving?”

With over 465 million Africans aged between 15 and 35, Adesina argues that this group isn’t a liability—it’s the continent’s greatest untapped economic force. But the key lies in financing, not tokenism.

AfDB’s Bold Steps: Youth Entrepreneurship Investment Banks

To address this gap, the AfDB has launched the Youth Entrepreneurship Development Bank, and recently approved $100 million to establish the Nigerian Youth Entrepreneurship Investment Bank. The goal? Mobilize $2 billion in investments for over 38,000 youth-led businesses across Africa.

Adesina emphasized that true empowerment goes beyond giving young people ₦5,000 or ₦10,000. Instead, Africa must invest significantly to generate youth-based wealth, ensure future tax bases, and achieve sustainable capital formation.

“If you don’t invest in the youth now, who will pay taxes in the future? Who will drive your economy?”

Beyond the Numbers: A Call to Action

Adesina’s comments are more than economic theory—they’re a call to reset Africa’s development priorities. The youth bulge should not be treated as a looming crisis but as an engine of prosperity, if given the tools to succeed.

“It is not population that is the problem,” Adesina concluded. “It is what you do with your population—how you skill them up and invest in them.”