In a special session of the World Economic Forum at its 24th Annual Meeting in Davos, Switzerland, H.E. President Paul Kagame of Rwanda together with other African leaders presented the initiative which is positioned to be the world’s largest financing facility bringing catalytic and commercial capital together to support Africa’s startup ecosystem.
“Timbuktoo’s vision aligns with Rwanda’s ecosystem. It is a privilege to host the timbuktoo headquarters and we are very happy to have the Africa Innovation Fund domiciled within the Kigali International Financial Centre,” President Paul Kagame said in his speech.
“We cannot accept that another generation of African young people do not have the tools to reach their full potential,” emphasized HE Paul Kagame, who announced an immediate contribution of US$3 million to start the timbuktoo Africa Innovation Fund which will be hosted in Kigali.
“With timbuktoo’s billion-dollar target, we can create more opportunities for Africa’s youth to put their talent and creativity to good use.,” He added.
Promoted by the UNDP, Timbuktoo aims to address critical gaps and work with African governments, investors, corporates, and universities, to support the African startup ecosystem.
