UNDP Eyes Ethiopia as Potential Host for Pan-African Startup Ecosystem Hub

ADDIS ABABA — Ethiopia is under consideration to become the host country for the Timbuktoo initiative hub, a significant project aimed at fostering a Pan-African startup ecosystem, as revealed by the United Nations Development Programme (UNDP). In an interview with the Ethiopian News Agency (ENA), UNDP Regional Bureau for Africa Director Ahunna Eziakonwa expressed that Ethiopia’s vibrant potential in innovation and entrepreneurship makes it a strong candidate for the initiative.

According to Ethiopian News Agency, the Timbuktoo initiative, unveiled on January 17, 2024, during a special session at the World Economic Forum in Davos, Switzerland, seeks to mobilize one billion USD to transform the lives of 100 million people and create 10 million jobs across Africa. Eziakonwa highlighted Ethiopia’s conducive environment for nurturing entrepreneurship among its youth, making it a prime location for the initiative.

The UNDP has been actively investing in Ethiopian universities to provide spaces for young people to incubate ideas and contribute to sustainable development. Eziakonwa pointed out the mismatch between the number of engineering graduates and the availability of jobs in Ethiopia, emphasizing the initiative’s goal to create opportunities for these skilled individuals to become job creators rather than job seekers. She also noted the robust partnership between UNDP and the Ethiopian government across various sectors, underlining the collaborative efforts to boost the country’s startup ecosystem.