On the sidelines of the Fourth International Conference on Financing for Development (FFD4) in Seville, UNDP hosted a high-level side event titled “Building the Future of Engagement with the Private Sector.” The session focused on advancing UNDP’s strategic goals of mobilizing private capital and accelerating reforms to the international financial architecture, with the timbuktoo initiative featured as a leading example of this transformation.

From Development Aid to Development Investmenr: The Vision of timbuktoo 

The event opened with a keynote address from HE Yusuf Murangwa, Rwanda’s Minister of Finance and Economic Planning. He highlighted the timbuktoo initiative as a new model for development that centers on investment, innovation, and African-led growth. Through its international and multi-stakeholder approach, timbuktoo aims to connect African innovation ecosystems to global markets and financing opportunities. The goal is to position Africa as a hub for research, technology, and entrepreneurship. 

The event showcased how timbuktoo is opening up new investment pathways in Africa through partnerships with organizations including Equity Group, 500 Global, NVIDIA, and UNLEASH. These collaborations demonstrate how first-loss capital and resource mobilization through the timbuktoo Africa Innovation Foundation are helping to de-risk investment environments and attract long-term capital. This aligns with a major FFD4 insight: the significant interest from pension and sovereign funds in directing assets towards development, indicating a potential new asset class for impactful investment.

Discussions focused on how to scale domestic capital mobilization, strengthen investor confidence, and grow the pipeline of investment-ready startups across the continent. Participants emphasized the need for proven models that meet the expectations of capital markets while driving measurable development outcomes. 

The first panel featured Hassan Nasser from the Digital Cooperation Organization, Mainga Mukando of the Zambian Industrial Development Corporation, and HE Ifeanyi Ossai, Deputy Governor of Enugu State, Nigeria. Panelists explored how governments, civil society, and the private sector can collaborate to build a development model that is inclusive, responsive, and anchored in shared responsibility. They discussed how political and economic conditions must be shaped to attract sustainable investment and how ecosystem-based approaches can support this effort. 

The second panel included Dr. James Mwangi of Equity Group, Mareme Dieng of 500 Global, and Jackie Stenson of UNLEASH. This session focused on how companies are integrating impact into their operations, strategy, and performance indicators. Speakers outlined how financing solutions such as venture philanthropy and blended finance are being used to scale businesses aligned with the Sustainable Development Goals. There was a clear message that corporate commitment to social and environmental impact is central to the future of business in Africa. 

The event also explored how reforming global financial systems can accelerate innovation and development. Blended finance and concessional instruments were presented as effective tools for attracting private capital at scale. These approaches are helping to shift the development narrative to one based on investment and long-term sustainability. The African startup space was highlighted as a growing opportunity for global financiers seeking returns with impact. 

A Clear Call to Action 

In closing, UNDP Assistant Secretary-General Marcos Neto called on all participants to remain focused on development amid growing global uncertainty. “Now is not the time to pull away from development. Now is the time to press in.” His message underscored the urgency of continued investment in innovation, inclusion, and sustainable growth.

This event contributed to several key outcomes aligned with UNDP’s strategy for FFD4. It helped build agreement around a shared narrative for public and private sector collaboration. It strengthened commitment to public-private partnerships across policy and implementation levels. It also generated clear expressions of private sector intent to align with the SDGs through business and investment.  

The session served as a milestone for advancing the timbuktoo model as a scalable example of innovation in development finance. UNDP will continue to work with member states and private partners to refine and grow this approach as part of its broader commitment to shaping the future of development financing.