Ethiopia’s Youth Investment Bank Eyes Launch This Year, Targets Funding 100+ Startups

Ethiopia’s Youth Entrepreneurship Investment Bank (YEIB)- a new bank under formation- is expected to begin operations this year, targeting more than 100 innovative startups and micro, small, and medium enterprises (MSMEs), according to the Ministry of Labour and Skills (MoLS).

Zerihun Alemayehu, Job Creation Expansion Lead Executive Officer at MoLS, confirmed to The Reporter that preparations are underway to meet the regulatory requirements of the National Bank of Ethiopia (NBE) to establish the new bank. Once operational, the bank will allow young entrepreneurs with viable business plans to secure loans and growth capital.

The initiative operates under the African Development Bank (AfDB)-supported Agri-MSMEs Development for Jobs (AMD4J) project, which is being implemented by MoLS.