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Nigerian Tech Hubs Can Now Apply For AfDB’s YEI Trust Fund Worth $4m

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The African Development Bank has opened applications for its Youth Entrepreneurship and Innovation Multi-donor Trust Fund (YEI Trust Fund). It is worth over $4 million fund with support from the governments of Denmark and Norway.

Launched in November 2017, the special fund supports youth enterprise and tech development on the African continent and also as part of the bank’s “Jobs for Youth in Africa” initiative. The initiative aims to create 25 million jobs and equip 50 million young Africans of working age with the skills they need to help them join the formal sector, by 2025.

Eligibility

  • Tech hubs, accelerators and incubators must be registered with authorities in Nigeria;
  • Interested tech hubs, accelerators and incubators must have been in existence for more than three years;
  • Tech hubs, accelerators and incubators must not be blacklisted by authorities, donors etc;
  • Eligible tech hubs must indicate a pipeline of potential youth-led start-ups/MSMEs; and
  • Tech hubs, accelerators and incubators must complete the ESO screening questionnaire in Annex to the Request for Expression.

Specific areas of support include, but are not limited to:

  • Feasibility (financial/economic) studies
  • Market research and analysis
  • Investment/business plan development
  • Legal advisory services
  • Financial structuring
  • Product development, quality standards and certification.
  • Market and financial (credit) access

Interested ESOs should provide information on their qualifications and experience, and show competency in providing such services (documentation, references for similar services, experience in comparable Assignments, availability of qualified staff, etc.) Also, applicants should note that the selection procedure shall be subject to the AfDB’s Rules and Procedure for the Use of Consultants.

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Commencement Date

The project is expected to kick off by September 2019 and runs for 12 months.

Application Process

Interested organisations must tender their interest within 14 days after the Request of Expression of Interest is published.

All applications must be sent via email to YEI@afdb.org. And they must mention “Business Development Services (BDS) provision in Nigeria to youth-owned start-ups and MSMEs to strengthen their capacity and improve their access to financial services.”

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