GonetAfrica and its capacity-building arm, Gonet Academy, have lauded the Liberian government and the African Development Bank (AfDB) for the successful launch of the Youth Entrepreneurship Investment Bank (YEIB), a groundbreaking initiative aimed at transforming Liberia’s economic landscape through youth-led innovation and enterprise development.
Officially launched on July 22, 2025, in Monrovia, the YEIB makes Liberia the first African nation to implement this model. The initiative was officially launched by President Joseph Nyuma Boakai, and Dr. Akinwumi A. Adesina, President of the AfDB Group, marking what many describe as a turning point for youth empowerment and private-sector development in the country.
“We want to be grateful to the Liberian government and the AfDB for this great initiative that is geared towards empowering the young people of this country,” Mohammed Kerkulah, Founder and CEO of GonetAfrica and Gonet Academy. “This is what we have been advocating for in this country for years and we are glad that it is finally coming to fruition.”
The YEIB is specifically designed to empower Liberians aged 18 to 35 by providing access to capital, training, mentorship, and technical support. The initiative aims to unlock private sector-led development and reduce the high levels of youth unemployment across the country.
With a target to finance 30,000 youth-led businesses, create 120,000 direct and indirect jobs, and contribute $80 million in government revenue, YEIB has the potential to drive significant economic growth. The initiative is also expected to catalyze up to $500 million in additional lending to youth enterprises across Liberia.
The project is jointly funded by the African Development Fund, the concessional lending arm of AfDB, which has committed US$15.9 million, alongside US$1.2 million in in-kind support from the Liberian government, bringing the total investment to US$17.1 million.
YEIB aligns with key national and international development frameworks, including the ARREST Agenda for Inclusive Development (AAID), particularly Pillar 1 on Economic Transformation, as well as the UN Sustainable Development Goals (SDGs), the African Union’s Agenda 2063, and the ECOWAS Regional Youth Strategy.
With over 60% of Liberia’s population under the age of 35, the program is seen as a strategic response to the country’s demographic realities and economic challenges.
Gonet has for years been the precursor to the YEIB initiative, as the academy has been empowering hundreds of young people–building their capacities for a productive future.
Since its inception, Gonet Academy has trained over 3,000 youth and professionals in more than 20 professional certificate and diploma programs, including entrepreneurship, project management, ICT, and financial literacy. Over 300 young Liberians have graduated from its entrepreneurship and business management programs, gaining practical tools to launch and grow sustainable businesses.
“Our mission has always been to transform education into empowerment,” said Kerkulah. “YEIB is exactly the kind of bold, strategic investment needed to support the energy, creativity, and determination we see in our youth every day. We stand ready to provide training, business incubation, and mentorship support as YEIB rolls out.”
The initiative also advances Goal 5 of Gonet Academy’s 2025–2029 Strategic Plan: Fostering Entrepreneurship and Innovation for Sustainable Development. According to Wilcom Duncan, Growth and Innovation Strategist at GonetAfrica, “This initiative affirms the central role of young people in shaping Liberia’s future. To succeed, YEIB must be underpinned by training, mentorship, and systems that allow ideas to flourish. That’s where we come in.”
To ensure the success and sustainability of YEIB, GonetAfrica and Gonet Academy recommend Prioritize Capacity-Building: Partner with training institutions to equip youth with core business skills and knowledge, Ensuring Decentralized Access: Develop outreach strategies for youth in rural counties to ensure equity and Promote Green and Digital Enterprises: Support innovation in agribusiness, ICT, and climate-smart industries.
It is also hoped to Implement Robust Monitoring Systems: Establish MEAL frameworks to measure impact and accountability, Leverage Public-Private Partnerships: Engage NGOs, innovation hubs, and the private sector to incubate and scale ideas among others.
The YEIB launch signals a national commitment to building a resilient, innovative, and inclusive economy, powered by youth entrepreneurship.
“This is more than a bank, it’s a promise,” said GonetAfrica in a statement. “A promise that Liberia recognizes its youth not just as beneficiaries, but as architects of the nation’s development.”
GonetAfrica and Gonet Academy reaffirmed their commitment to partnering with government and international stakeholders to nurture Liberia’s next generation of entrepreneurs.
