Equity Group Foundation (EGF) and the United Nations Development Programme (UNDP) have signed a Memorandum of Understanding (MoU) to accelerate innovation and strengthen support for businesses, with the goal of fostering inclusive economic growth across Africa.
The partnership aims to empower MSMEs and young people through the establishment of centres of excellence and the strengthening of high-value supply chains. It will also drive climate action to support inclusive and sustainable development.
The partnership aims to empower MSMEs and young people through the establishment of centres of excellence and the strengthening of high-value supply chains. It will also drive climate action to support inclusive and sustainable development.
Under this partnership, UNDP and the Equity Group Foundation will establish centres of excellence through UNDP’s flagship timbuktoo initiative to nurture innovation and empower African entrepreneurs. The centres will offer advanced training, mentorship, and improved access to financing, enabling the development and scale-up of high-potential, climate-neutral enterprises.
Speaking at the signing ceremony, Equity Group Foundation Executive Chairman, Dr. James Mwangi, hailed the collaboration as a transformative step toward empowering young people and harnessing innovation to address societal challenges.
“Equity Bank was built on the principle of inclusion. Issues of inclusion—especially in digital, AI, and cloud computing—are central to our vision. This partnership will equip young innovators with the tools, resources, and networks they need to thrive, while ensuring that innovation is applied to some of the world’s most urgent challenges. With our footprint in seven African countries, serving a combined population of over 350 million people, Equity offers these innovators access to a vast market and the Group’s operational strength to serve the region as a single market under the African Continental Free Trade Area,” said Dr. Mwangi.
“This partnership with the Equity Group Foundation represents a major stride toward building an innovation-led and sustainable future for Africa. Through UNDP’s timbuktoo initiative, we are nurturing entrepreneurs, strengthening value chains, and expanding socio-economic empowerment. This is how we shift from potential to prosperity and lay the foundation for lasting impact across the continent,” said Ms. Ahunna Eziakonwa, UNDP Assistant Administrator and Director of the Regional Bureau for Africa.
The agreement underscores the shared commitment of UNDP and Equity Group to drive Africa’s transformation by leveraging joint expertise and resources. It aligns with the Sustainable Development Goals (SDGs) and Equity Group’s Africa Recovery and Resilience Plan (ARRP), with a strong emphasis on innovation, inclusion, and empowering young people to lead meaningful change.