AfDB’s 100,000 USD Climate Grant to Boost Entrepreneurs

The African Development Bank has announced the start of the African Youth Adaptation Solutions (YouthADAPT) Challenge. Through this challenge, AfDB is looking for young entrepreneurs who can help bring about climate-resilient measures to address the effects of Covid-19, climate change, and the economy.

The competition is being run in collaboration with the Global Center on Adaptation. The winners of the challenge will get awards of up to 100, 000 USD each as well as join a 12 month business accelerator program to help them scale and grow their businesses. 

YouthADAPT for MSMEs & Other Youth Led Enterprises

The YouthADAPT Competition targets young African Entrepreneurs between the age of 18-35 and are innovating solutions for building resilience and adapting to the negative effects of climate change in micro, small, and medium-sized enterprises (MSMEs) and other youth-lead enterprises.

“Winning youth-led enterprises will be provided with mentorship and support to expand partnerships, knowledge sharing, and learning through a network of young entrepreneurs in climate adaptation,”

The competition intends to combine AfDBs’ resources, complementary knowledge, and networks to help SMEs. This is with an aim to foster sustainable climate adaptation and resilience in Africa. 

The Global Center on Adaptations’ objective, according to Patrick Verkooijen, is to provide one million young people in Africa with the funding and skills they need to pursue employment and careers in climate adaptation.