Equity Group Foundation partners with UNDP to advance innovation, empower entrepreneurs, and drive inclusive African growth

Equity Group Foundation (EGF) and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) aimed at accelerating innovation and empowering African entrepreneurs to drive inclusive growth across the continent.

Through the partnership, centers of excellence will be established under UNDP’s flagship Timbuktoo initiative to provide comprehensive training, mentorship, and improved access to finance. The program targets high-potential, climate-neutral businesses and aims to strengthen value chains and create opportunities for Micro, Small, and Medium Enterprises (MSMEs).

Speaking at the Nairobi event, EGF Executive Chairman Dr. James Mwangi described the collaboration as transformative. “Equity Bank was built on inclusion. This partnership equips young innovators with the tools, resources, and networks to tackle societal challenges,” he said. With operations across seven African countries and access to the African Continental Free Trade Area market, Dr. Mwangi noted that the initiative will expand financial inclusion, reduce poverty, and foster gender equality and climate action.

UNDP Assistant Administrator and Regional Bureau for Africa Director, Ahunna Eziakonwa, highlighted the collaboration’s potential to build an innovation-driven, sustainable future. “Through Timbuktoo, we are nurturing entrepreneurs, reinforcing value chains, and advancing socio-economic empowerment,” she said.

The partnership aligns with the Sustainable Development Goals and Equity Group’s Africa Recovery and Resilience Plan (ARRP), underscoring a commitment to leveraging expertise and resources to transform Africa’s innovation ecosystem and empower the next generation of entrepreneurs.