Equity, UNDP Launch Africa Innovation Drive
Kenya has scored another major win in the continent’s innovation space after the Equity Group Foundation (EGF) and the United Nations Development Programme (UNDP) signed a landmark Memorandum of Understanding (MoU) to accelerate innovation, boost entrepreneurship, and drive inclusive economic growth across Africa.
The new partnership will focus on strengthening Africa’s innovation ecosystem by establishing centres of excellence under UNDP’s timbuktoo initiative, helping African startups access training, mentorship, funding, and market opportunities.
Empowering Innovators Across Africa
Through the new innovation centres, African entrepreneurs—especially youth-led startups—will gain access to:
- Advanced business training
- World-class mentorship
- Financing opportunities
- Climate-neutral business development tools
- Market linkages across Africa
The centres aim to help startups and MSMEs build scalable, future-ready businesses that can compete at global standards.
Dr Mwangi: A Transformational Partnership
Speaking during the signing ceremony, Dr James Mwangi, Executive Chairman of Equity Group Foundation, hailed the collaboration as a game-changer for Africa’s innovation landscape.
“Equity Bank was built on the principle of inclusion. This partnership will empower young innovators with the tools, resources, and networks they need to succeed—while helping tackle some of the world’s most pressing challenges,” said Dr Mwangi.
With Equity’s footprint across seven African countries, Dr Mwangi noted that young innovators will now be connected to a regional market of over 350 million people, strengthened further by the African Continental Free Trade Area (AfCFTA).
Driving Economic Empowerment & Climate-Smart Growth
The partnership will support Africa’s socio-economic transformation through programs that focus on:
- Economic empowerment
- Poverty reduction
- Education and skills development
- Financial inclusion
- Gender equality and women empowerment
- Climate action and green innovation
By identifying high-potential value chains, Equity Group Foundation and UNDP will implement targeted interventions to unlock growth opportunities for MSMEs, cooperatives, and local communities.
UNDP: From “Potential to Prosperity”
UNDP Assistant Administrator and Regional Bureau for Africa Director, Ms Ahunna Eziakonwa, emphasized that the partnership marks a bold step toward a sustainable innovation-driven future for Africa.
“Through the timbuktoo initiative, we are nurturing entrepreneurs, strengthening value chains, and advancing socio-economic empowerment. This is how Africa moves from potential to prosperity,” she said.
A Shared Vision for Africa’s Transformation
The Equity–UNDP collaboration aligns with:
- The Sustainable Development Goals (SDGs)
- Equity Group’s Africa Recovery and Resilience Plan (ARRP)
Both institutions aim to harness innovation, digital transformation, and local talent to drive long-term, inclusive, and sustainable growth across Africa.
Why This Matters for Africa
This partnership strengthens Africa’s position as a rising innovation powerhouse by:
- Building homegrown solutions
- Supporting youth entrepreneurship
- Enhancing regional competitiveness
- Promoting climate-resilient business models
- Boosting digital, AI, and cloud innovation
With the continent’s growing young population and expanding digital economy, the EGF–UNDP alliance is set to unlock massive opportunities for Africa’s next generation of innovators.
