The President of the United States African Development Foundation (USADF) President Shari Berenbach has announced a three year support to the United States president’s Young African Leaders Initiative (YALI). The programme is designed to support young African entrepreneurs to accelerate economic growth and strengthen democratic institutions across Africa.
With the support, the USADF will award up to 200 young Africans taking part in the Washington Fellows Program from 2014-16 with $25,000 Entrepreneurship Grants, to initiate or expand their business in their home countries.
The White House fact sheet on YALI noted the critical need to invest in the next generation of African leaders to ensure the success of Africa’s democracies and its economies. One in three Africans is between the ages of 10 and 24, and approximately 60 percent of Africa’s total population is below the age of 35. Through YALI, the United States is committing significant resources to enhance leadership skills, bolster entrepreneurship, and connect young African leaders with one another, with the United States, and with the American people.