The United Nations Development Programme (UNDP) launched the “timbuktoo” initiative in collaboration with African countries at the World Economic Forum in Davos. The initiative aims to be the world’s largest financing facility, uniting catalytic and commercial capital to support Africa’s startup ecosystem. African leaders, including President Paul Kagame of Rwanda and President Nana Akufo-Addo of Ghana, presented the initiative, which seeks to spark the African Startup Revolution by leveraging Africa’s youth demographic and innovative talent. The timbuktoo initiative will address critical gaps in the African startup ecosystem by partnering with governments, investors, corporates, and universities. It aims to create opportunities for African youth by establishing the timbuktoo Africa Innovation Fund and mobilizing $1 billion to transform 100 million livelihoods and create 10 million jobs. The initiative aims to attract both global and local investment and foster a pan-African approach to supporting startups and strengthening the entire ecosystem.
