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COP28: Nigerian among 8 business women who won $800,000 in Dubai

"Each winner will receive grant funding of up to $100 000, and a comprehensive mentorship and coaching as part of a 12-month accelerator programme"

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Stephanie Meltus of Green Eden Farms is among the eight young African women-led businesses who won the Africa Development Bank (AfDB) 2023 YouthAdapt awards in Dubai, UAE.

Persecond News reports that each winner will receive grant funding of up to $100 000, and a comprehensive mentorship and coaching as part of a 12-month accelerator programme.

Since its launch in 2021, the YouthADAPT initiative has provided more than $5 million to 33 young entrepreneurs from 19 African nations.

The African Development Bank Group in partnership with the Global Centre on Adaptation, supported by the Africa Climate Change Fund, YouthADAPT is an annual competition for young entrepreneurs leading micro, small and medium-sized enterprises in Africa with innovative climate change adaptation solutions.

This year’s programme is focused on female-owned enterprises pioneering Fourth Industrial Revolution (4IR) technologies such as artificial intelligence, big data analytics, virtual reality, robotics.

Others are Internet of Things, quantum computing, additive manufacturing, blockchain, and fifth-generation wireless for climate adaptation.

Speaking at the ceremony held on the sidelines of COP28 in Dubai, the President of the African Development Bank, Nigeria’s Dr Akinwumi Adesina, emphasised that investment in the youth will shape a thriving future.

Adesina said: “The Jobs for Youth in Africa and the Skills Employability initiatives at the bank stand as a testament to our commitment to create 25 million jobs for our youth, ensuring that 250 million individuals find their path to the labour market.

“The Youth ADAPT initiative is a pledge to invest in the youth and shape a thriving future.”

Prof. Patrick Verkooijen, the CEO of the Global Centre on Adaptation, stressed the need to nurture Africa’s youth talent.

“Young people hold the key to unlocking Africa’s economic potential. Through initiatives like the YouthADAPT awards, we provide opportunities for training and jobs to retain African talents at home,” he said.

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