Equity Group Foundation (EGF) and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to promote innovation and provide support to businesses across Africa.
Under the partnership, UNDP and EGF will establish centers of excellence as part of UNDP’s timbuktoo initiative.
The centers aim to support African entrepreneurs by offering training, mentorship, and improved access to finance, with a focus on developing high-potential, climate-conscious businesses.
At the signing, Equity Group Foundation Executive Chairman James Mwangi described the collaboration as a step toward empowering young people and promoting innovation to address social and economic challenges.
“Equity Bank was built on inclusion. In areas such as digital technology, artificial intelligence, and cloud computing, this partnership will provide young innovators with tools, resources, and networks to succeed,” Mwangi said.
“With our presence in seven African countries, serving over 350 million people, we can offer these innovators access to a broad marketplace and the capabilities of the Group under the African Continental Free Trade Area.”
The partnership will focus on programs that promote economic empowerment, reduce poverty, expand access to education, and support financial inclusion, with particular attention to gender equality and climate action.
Key value chains and sectors will be identified, with targeted interventions designed to support the growth of micro, small, and medium enterprises (MSMEs) and local communities.
UNDP Assistant Administrator and Regional Bureau for Africa Director, Ahunna Eziakonwa, said the collaboration would help build an innovation-driven and sustainable future for Africa.
“Through the timbuktoo initiative, we are supporting entrepreneurs, reinforcing value chains, and advancing socio-economic development across the continent,” she said.
The partnership reflects the shared commitment of UNDP and Equity Group to foster economic transformation in Africa, aligning with the Sustainable Development Goals (SDGs) and Equity Group’s Africa Recovery and Resilience Plan.
