The African Development Bank (AfDB) has approved and signed financing packages worth more than €209 million to support youth employment, skills training and entrepreneurship in Equatorial Guinea and Cameroon.
In Equatorial Guinea, the Bank’s Board approved a €73.27 million loan for the first phase of the Human Capital Development Project in Support of Economic and Social Inclusion (PARCH 1). Running from 2025 to 2030, the initiative will establish two provincial polytechnic institutes in Bioko Sur and Welé-Nzas to deliver training in agriculture, fisheries, tourism, public works and digital technology.
The project is expected to create 4,500 jobs, support 500 youth- and women-led businesses, and provide training and job placement for nearly 2,000 beneficiaries. AfDB Central Africa Director General Léandre Bassolé said the programme would address Equatorial Guinea’s high youth unemployment, particularly among women, and align training with labour market needs.
In Cameroon, the Bank and government signed €136 million in loan agreements for the Building Capacities and Skills for Employability and Entrepreneurship in the Extrême Nord Region (CAP2E). The five-year scheme will train 6,000 young people, create at least 5,000 jobs—40 percent for women—and support over 500 SMEs.
The programme will also finance 22 training centres, 29 social facilities, renewable energy projects, and improved health and education services in the conflict-affected far north. Cameroon’s Minister of Economy, Planning and Regional Development, Alamine Ousmane Mey, said the initiative would boost shared prosperity and stability.
Bassolé described the project as “a genuine catalyst for transformation” that would stimulate entrepreneurship, strengthen infrastructure and expand opportunities in agriculture and renewables.
The investments reflect AfDB’s broader commitment to youth empowerment, women’s economic inclusion and sustainable development across Central Africa.
Leave a Reply