The United Nations Development Programme (UNDP) and the Timbuktoo Africa Innovation Foundation have unveiled the premiere cohort of fintech startups at the launch of the Timbuktoo Fintech Hub in Lagos, Nigeria. These innovative startups, selected from over 800 applicants across 40 African countries, represent a diverse range of fintech solutions aimed at addressing critical development challenges aligned with the Sustainable Development Goals (SDGs).
The chosen startups span various sectors, including financial inclusion, agriculture, healthcare, education, clean energy, and climate action. Their solutions target pressing issues such as poverty reduction, economic growth, and reducing inequalities across the continent. The innovations are solution-driven enterprises aligned with multiple SDGs: No Poverty (SDG 1), Zero Hunger (SDG 2), Good Health and Well-Being (SDG 3), Quality Education (SDG 4), Gender Equality (SDG 5), Affordable and Clean Energy (SDG 7), Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), Reduced Inequalities (SDG 10), Climate Action (SDG 13), and Partnerships for the Goals (SDG 17).
At the launch, Professor Yemi Osinbajo, Guardian of the Timbuktoo Africa Innovation Foundation, emphasized the transformative power of innovation. “In the last five years in Nigeria, we have seen dramatic proof of the power of innovation. It is this energy, this spirit of innovation, that will power the Africa of our dreams.”
The premiere cohort will benefit from comprehensive support, including mentorship from leading African fintech experts and entrepreneurs, access to state-of-the-art facilities at the Pan-African Fintech Hub in Lagos, connections to investors and potential partners, tailored support to refine products and scale operations, and equity-free funding up to $25,000 USD.
Meet the Premiere Cohort of the Timbuktoo Fintech Hub:
- AI-King Group
- Amanleek
- CashEx
- ConNet
- Credit Line
- CYTO
- Eazy Chain
- eMaisha Pay
- eQub
- Futa
- Famasi Africa
- Gawapay
- Hafide Accounting
- HuluCares
- JAABILI (doo!)
- Ipachi Capital
- Innovative Clan
- Khairy Consulting
- MlimiPay
- Nilpay Inc
- Nobuk Africa
- Oystr Finance
- Pay Lesotho
- Periculum Technologies
- Patient Care
- Primed E-health
- Sandoog
- ShopOkoa
- SistersDesigns
- Smart Ikigega
- SoftLab
- Teleka
- Telneting
- Tendo Technologies
- The Party App
- Trade Lenda
- myRunner
- UltraTeb
- Unfrauded
- VOLET Technologies
- Waychit
- YouTech
- Cranitech Limited
- Payme Finance
The hub, located at the UNDP Innovation Center in Lagos, is the first of its kind in Africa. The Timbuktoo Fintech Hub also serves as a nexus for fintech startups, investors, and industry experts, designed to catalyze innovation, foster collaboration, and drive growth within the Pan-African fintech ecosystem. This initiative marks a significant milestone in UNDP’s commitment to harnessing technology for sustainable development and positioning Africa as a global leader in fintech innovation.
Launched in January 2024 at the World Economic Forum in Davos, the Timbuktoo Africa Innovation Foundation is registered and headquartered in Kigali, Rwanda. Inspired by the historic city of Timbuktu in Mali, it is a multi-stakeholder initiative bringing together governments, the private sector, and academia to power Africa’s socioeconomic transformation through innovation. Timbuktoo is not about supporting one sector or one country but about leveraging the collective power to create conditions for scale and impact across the whole of Africa.
Guided by the Sustainable Development Goals (SDGs) and powered by UNDP, Timbuktoo leverages Africa’s youth, engaging them where they are and preparing them to lead the fourth industrial revolution. This initiative aims to create exponential wealth and jobs, thereby impacting communities at scale.