The Development Bank of Nigeria (DBN) has received shareholder approval to invest $2.5 million in the Youth Entrepreneurship Investment Bank (YEIB), a new initiative aimed at empowering youth-led businesses across the country.
The green light came during DBN's 8th Annual General Meeting (AGM) in Abuja, where the bank presented its 2024 financial results.
YEIB is a joint effort involving DBN, the African Development Bank (AfDB), and the Nigerian Sovereign Investment Authority (NSIA). The bank is expected to begin operations in 2026 and will focus on providing equity financing—not loans—to promising youth-owned enterprises.
According to DBN's Managing Director and CEO, Tony Okpanachi, the move reflects DBN's long-term vision of deepening financial inclusion and boosting youth participation in the economy.
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"This is not a traditional bank," Okpanachi explained. "YEIB will serve as an investment platform that provides equity to scale youth-led businesses. It is one of the boldest steps we are taking to support young entrepreneurs."
He added that the legal framework and incorporation process for YEIB are expected to be completed by the end of 2025, with operations starting soon after. The NSIA will take the lead on equity participation, while DBN and other international partners will also invest.
Talks are currently underway with additional strategic partners interested in joining the initiative.
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