By James Okoth
The Equity Group Foundation (EGF) and the United Nations Development Programme (UNDP) have signed a strategic partnership aimed at accelerating innovation, strengthening value chains, and empowering African youth and Micro, Small and Medium Enterprises (MSMEs) across the continent.
The Memorandum of Understanding (MoU), announced in Nairobi, seeks to boost entrepreneurship, enhance access to finance and advance climate-resilient and inclusive economic growth. The collaboration will anchor new centers of excellence under UNDP’s flagship timbuktoo initiative, offering training, mentorship and support for the development of high-potential, climate-neutral businesses.
Speaking during the signing ceremony, Equity Group Foundation Executive Chairman Dr. James Mwangi described the partnership as a transformative step that will unlock opportunities for African youth.
“Equity Bank was built on the principle of inclusion,” Dr. Mwangi said. “The issue of inclusion, particularly in the digital, AI, and cloud computing spaces, resonates deeply with us. This partnership will empower young innovators with the tools, resources and networks they need to succeed and ensure that innovation addresses some of the world’s most pressing challenges.”
He added that the Group’s footprint across seven African countries, serving a combined population of more than 350 million people, provides a large marketplace for emerging entrepreneurs.
“Through the African Continental Free Trade Area, we want young innovators to view the region as a single market and we are ready to support them with the brand strength and capabilities of the Equity Group,” Mwangi said.
The collaboration will focus on identifying high-impact sectors and value chains that can unlock growth for MSMEs and local communities. Priority areas include climate action, financial inclusion, gender equality and education.
According to EGF, the partnership is designed to reduce poverty and drive equitable development by improving business capacity and expanding access to markets and finance.
UNDP Assistant Administrator and Director of the Regional Bureau for Africa, Ms. Ahunna Eziakonwa, hailed the partnership as a cornerstone for Africa’s next phase of economic transformation.
“This partnership with Equity Group Foundation marks a significant step toward building an innovation-driven and sustainable future for Africa,” Eziakonwa said. “Through UNDP’s timbuktoo initiative, we are nurturing entrepreneurs, reinforcing value chains and advancing socio-economic empowerment. This is how we move from potential to prosperity.”
She emphasized that the initiative aims to provide a platform where youth-led businesses can scale, innovate and create lasting impact across the African continent.
The collaboration aligns with the Sustainable Development Goals (SDGs) and supports Equity Group’s Africa Recovery and Resilience Plan (ARRP), which prioritizes innovation, inclusion, and sustainable growth.
Both organizations underscored their shared commitment to leveraging expertise and resources to drive Africa’s transformation by equipping youth with the capabilities needed to compete in an increasingly digital and climate-conscious global economy.
