Liberia: GonetAfrica, Gonet Academy Hail YEIB Launch as Bold Step Toward Youth-Led Economic Transformation

Commend GOL and AfDB for Scaling Innovation, Skills, and Inclusive Growth

Paynesville – GonetAfrica and Gonet Academy have applauded the Government of Liberia and the African Development Bank (AfDB) for launching the Youth Entrepreneurship and Investment Bank (YEIB), positioning Liberia as the first African nation to implement this groundbreaking initiative.

The launch, held July 22 in Monrovia, was officiated by President Joseph Nyuma Boakai and AfDB President Dr. Akinwumi A. Adesina, marking a pivotal moment for youth empowerment and private-sector development.

YEIB is designed to unlock economic opportunities for young people aged 18–35 by providing access to finance, skills training, mentorship, and technical support—aiming to shift young Liberians from job seekers to job creators.

Targeting a Generation at a Crossroads

With over 60% of Liberia’s population under 35, youth unemployment and lack of entrepreneurial support remain pressing challenges. YEIB aims to reverse this trend with ambitious targets which include finance 30,000 youth-led businesses, generate 120,000 direct and indirect jobs, contribute $80M in tax revenues and unlock up to $500M in additional lending for youth enterprises

Backed by $15.9M from the African Development Fund and $1.2M in-kind support from the Liberian government, YEIB aligns with the ARREST Agenda for Inclusive Development, as well as global and regional frameworks like the SDGs, AU Agenda 2063, and the ECOWAS Regional Youth Strategy.

Gonet Academy: Bridging the Skills Gap

Gonet Academy, the capacity-building arm of GonetAfrica, has trained over 3,000 youth and professionals through over 20 professional programs in entrepreneurship, ICT, finance, health and safety, and project management.

More than 300 young Liberians have completed its entrepreneurship and business management programs, equipping them with real-world skills to start and sustain micro and small enterprises.

“Our mission has always been to transform education into empowerment,” said Mohammed Kerkulah, Founder & CEO of GonetAfrica. “YEIB is the kind of strategic investment that matches the energy, creativity, and potential we see in our students every day.”

Strategic Alignment and Readiness to Partner

YEIB directly aligns with Goal 5 of Gonet Academy’s 2025–2029 Strategic Plan: Fostering Entrepreneurship and Innovation for Sustainable Development.

“This initiative is timely and visionary,” said Wilcom Duncan, Growth and Innovation Strategist at GonetAfrica. “But its success hinges on systems that allow ideas to grow—training, mentorship, and infrastructure. That’s where we come in.”

Recommendations for Sustainable Impact

To ensure the long-term success of YEIB, GonetAfrica and Gonet Academy recommend capacity building first. They called for prioritizing training in business planning, management, and financial literacy through partnerships with local institutions.

Decentralize Access: Establish county-level outreach to ensure rural youth are not left behind; Fund the Future: Prioritize youth-led ventures in agribusiness, climate-smart tech, digital innovation, and e-commerce.

Track and Learn: implement a strong MEAL system to monitor results, ensure accountability, and adapt in real time.

Collaborate Widely: Leverage public-private partnerships to scale innovations and support youth-led enterprises.

A Generation Ready to Build

The launch of YEIB is more than a program—it’s a declaration that Liberia sees its youth as vital architects of national prosperity. GonetAfrica and Gonet Academy reaffirm their commitment to working with government and partners to make this vision a reality.

Management added: “Together, we can unlock Liberia’s full potential—one empowered young entrepreneur at a time.”