Enilolobo advocates better access to finance for young African entrepreneurs

Solomon Enilolobo, a serial entrepreneur and young emerging business leader, has called for reduction on interest rates for young entrepreneurs.

He made the call while participating at the World Bank 2025 Spring Meetings held at the World Bank/ International Monetary Fund Headquarters in Washington DC.

At the session on Access to Finance in Sub- Sahara Africa, which was attended by Wale Edun, Nigerian Minister of Finance and Coordinating Minister of the Economy; Yemi Cardozo, Central Bank of Nigeria Governor; Ali Lamine Zaine, Prime Minister of Niger; Amina Mohammed, Deputy Secretary-General of the United Nations; World Bank Executive Director for Africa Group 3 Constituency, representing Angola, Nigeria and South Africa, as well as Central Bank Directors from different countries, among other delegates

Solomon Enilolobo, who doubles as the Nigeria Co-ordinator of Commonwealth Alliance of Young Nigerian Entrepreneurs -Africa (CAYE-Africa) and the South West Co-ordinator of Alliance of Young Nigerian Entrepreneurs (AYNE) decried the high interest rate on commercial bank loans in Sub Saharan Africa.

He therefore tasked the World Bank, the International Monetary Fund and African Policy makers to intervene and make single digit loans available to young entrepreneurs in Africa.

He posited that young entrepreneurs would do more if given the right, conducive environment. He made examples of what Nigeria youth had done in Music, Movies, Entertainment, Fashion and Sport.

“We will do more in Business if given the right environment”, he said

Enilolobo had made similar calls in 2017, when he spoke at the Youth Forum of the World Bank and the Commonwealth Head of Government Meeting (CHOGM) held in London.