Monrovia – The Government of Liberia, through the Ministry of Commerce and Industry (MoCI, officially launched the Youth Entrepreneurship Investment Bank Management Company (YEIB–MANCO) Technical Assistance Program in Monrovia.
By Sikidi Trawally and Charles G. Lamadine, contributing writers
Minister Hon. Magdalene Ellen Dagoseh presided over the ceremony, joined by Dr. James Francis Davis, Senior International Consultant of the African Development Bank, and Mr. Joseph Fatorma Sando, Chief Executive Officer of YEIB-MANCO.
The launch marks a significant step in strengthening Liberia’s private sector by preparing MSMEs and youth entrepreneurs to become bankable and investment-ready.
Minister Hon. Magdalene Ellen Dagoseh said the program aligns with the Government of Liberia’s ARREST Agenda for Inclusive Development.
“The goal is a more inclusive, productive, and resilient private-sector economy where young people and women have real support to start, formalize, and grow businesses that create jobs and wealth,” the Minister stated.
Dr. James Francis Davis noted that the launch of the YEIB Liberia Technical Assistance Program is not only monumental for Liberia but critical to the YEIB’s initiative across Africa as being the first YEIB’s Technical Assistance Program to be launched in Africa.
He disclosed that the YEIB is different from other donor-funded access to finance initiatives as it seeks to establish permanent institutions in every African country to provide innovative financial and non-financial services to youth-led enterprises.
On the YEIB’s Technical Assistance Program, Dr. Davis averred that the program will not build the capacity of youth-led enterprises but will connect them to access to finance and market opportunities. He stated that the YEIB’s Technical Assistance Program will further contribute to Liberia’s human capital development by enhancing the quality of business development services provided to MSMEs across Liberia.
For his part, Mr. Joseph Fatorma Sando, who heads YEIB-MANCO, detailed how the program will work on the ground. He stressed that YEIB-MANCO is a capacity-building and investment-readiness initiative, not a cash grant.
“Our mandate is to make Liberian businesses stronger, more organized, and ready for investment and growth,” Mr. Sando said.
“That means hands-on support in business planning, financial management, marketing, record-keeping, product development, digitalization, and market access. We’re building businesses that banks and investors can trust.”
He confirmed that the first cohort will select 50 MSMEs from across Liberia, with more cohorts to follow. Mr. Sando specifically encouraged female entrepreneurs and entrepreneurs with disabilities to apply, saying inclusive growth is central to YEIB-MANCO’s mission.
Giving an overview of the ceremony, the Project Coordinator of the Project Implementation Unit (PIU) for the African Development Bank’s Youth Entrepreneurship Investment Bank Management Company (YEIB-MANCO), Mr. Marcus B. Zarway, expressed his joy at seeing the company finally come to fruition.
He noted that with the instrumentality of the Senior International Consultant of the African Development Bank (AfDB), Dr. James Francis Davis, and Liberia’s Minister of Commerce and Industry, Hon. Magdalene Ellen Dagoseh, presiding over the launch, the Technical Assistance Support Program was officially unveiled.
Mr. Zarway provided the project overview, which includes the formation and operationalization of the Youth Entrepreneurship Investment Bank Management Company (YEIB-MANCO).
About the Program
The YEIB–MANCO Technical Assistance Program is led by MoCI through its Small Business Administration and financed by the African Development Bank. It is one of three (3) special-purpose vehicles under the YEIB MANCO. It aims to build the capacity of youth-led enterprises across Liberia to make them bankable and investable. Eligible MSMEs will receive:
– Business development training: planning, financial management, marketing, digitalization
– Investment-readiness coaching: formalization, record keeping, product development
– Market and financier connections: to help businesses access funding and new markets
The Ministry announced that the call for applications for MSME Technical Assistance is now open. Interested entrepreneurs should contact the Ministry of Commerce and Industry through its official channels for eligibility, procedures, and deadlines. Interested entrepreneurs should also use the application portal provided herein to apply to the program.
Applications Are Now Open
The Youth Entrepreneurship Investment Bank Management Company Technical Assistance is now accepting applications. Applications are now open for entrepreneurs aged 18–35 who are the sole founder or head of their business.
Get business training, investment readiness coaching, and connections to markets and financiers. The first cohort will select 50 businesses across Liberia.
Apply now: https://www.yeibmancota.com/0774251011/0889251011 [email protected]
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