UNDP and Timbuktu Launch First Fintech Cohort in Lagos

The United Nations Development Programme and timbuktoo Africa Innovation Foundation unveiled the first cohort of fintech startups at the launch of the timbuktoo Fintech Hub in Lagos, Nigeria. These innovative startups, chosen from over 800 applicants from 40 African countries, represent a broad range of fintech solutions that address critical development challenges aligned with the Sustainable Development Goals (SDGs).

The selected startups span across sectors including financial inclusion, agriculture, healthcare, education, clean energy and climate action. Their innovative solutions aim to address pressing issues such as poverty reduction, economic growth and reducing inequalities across the continent. These innovations are solution-driven businesses aligned to the Sustainable Development Goals: SDG 1 – No poverty, SDG 2 – Zero hunger, SDG 3 – Good health and well-being, SDG 4 – Quality education, SDG – 5 Gender equality, SDG 7 – Affordable and clean energy, SDG 8 – Decent work and economic growth, SDG 9 – Industry, innovation and infrastructure, SDG 10 – Reduced inequalities, SDG 13 – Climate action, SDG 17 – Partnerships for the goals.

Over the past 5 years in Nigeria, we have witnessed dramatic proof of the power of innovation. It is this energy, this spirit of innovation, that will fuel the Africa of our dreams.

Professor Yemi Osinbajo, custodian of the Timbuktoo Africa Innovation Foundation

The first 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 based in Lagos, Nigeria, connections with investors and potential partners, personalized support to refine products and scale operations, and equity-free funding of up to $25,000.

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