The Afrikan Youth Business Council (AfYBC) has signed a Memorandum of Understanding with the Arusha-based MS Training Centre for Development Cooperation (MS TCDC) for the fiscal sponsorship of AfYBC by MS TCDC.
AfYBC is the continental umbrella body of youth-led private sector entities, institutions, and associations advocating for a youth-friendly business policy environment under the African Continental Free Trade Area (AfCFTA), while MS TCDC, an initiative of the governments of Denmark and Tanzania, is focused on democratic governance, human rights, transformational leadership and youth participation in politics and business.
The fiscal sponsorship agreement will provide a framework of cooperation in which TCDC serves as the fiscal sponsor/host for AfYBC and, accordingly, facilitate collaboration between the two parties in areas of common interest. Thus, the two entities have agreed to mutually collaborate on issues regarding young African entrepreneurs as well as youth-led businesses across the continent.
While commenting on the AfYBC-TCDC host agreement, Ms Leah Nduati, Interim President of AfYBC, expressed AfYBC’s gratitude to TCDC for the partnership, which she said would allow the Council to leverage the Centre’s operational systems, expertise, and networks to empower young entrepreneurs and ensure their meaningful participation in the AfCFTA and the broader business and trade landscape in Africa.
“This partnership represents a significant step forward in our mission to create a vibrant ecosystem for youth-led businesses and promote economic growth and prosperity for the African continent. Together, we will champion the interests of young entrepreneurs, advocate for youth-friendly policies, and contribute to the realization of Africa’s full economic potential,” said Ms Nduati.
Ms Makena Mwobobia, Executive Director of MS TCDC, said the Centre was “very proud” to have signed a host MOU with AfYBC, noting TCDC’s vast experience working with young people through its flagship YouLead Program, which is Africa’s leading youth leadership program, focused on unlocking youth leadership potential for a prosperous continent by fostering cooperation among Africa’s young leaders and their initiatives.
“Hosting and supporting foundational activities for AfYBC in its early stages will ensure they are able to start implementing programmes and complying with their internal policies as approved by AfYBC’s Leadership and Management. I am confident that this partnership will contribute to the realization of AfCFTA’s potential in unlocking Africa’s vast economic resources, enhancing trade and market access, and contributing to the overall well-being of the youth in Africa,” noted Ms Nwobobia.
It will be recalled that the AfYBC was launched on the sidelines of the 2022 YouLead Africa Summit in December 2022 by the African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals (ETTIM), Amb. Albert Muchanga.
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