LocationsStrengthening Global Partnerships to Power Africa’s Startup Revolution: timbuktoo at the World Bank Spring Meetings 2025
April 25, 2025
Washington D.C., April 25, 2025 — On the margins of the World Bank Spring Meetings in Washington D.C., the United Nations Development Programme (UNDP) joined FINCA and District Africa to host an exclusive breakfast meeting for the timbuktoo Initiative—a bold effort to reimagine Africa’s innovation ecosystem, in partnership with Institutional Investment Network and Africa Diaspora Invests.
Held under the theme “Strengthening Global Partnerships for Advancing African Startups,” the event brought together an influential mix of global financial leaders, investors, policymakers, and entrepreneurs with the goal to explore how blended finance and multistakeholder collaboration can unlock transformative growth for startups across the African continent.
The morning began with insightful presentations on the untapped potential of African capital, the evolution of Africa’s emerging markets, and the critical role of the timbuktoo initiative in unlocking capital for African innovation. Joan Manda, Global Lead of the timbuktoo Initiative, emphasized the strategic role of UNDP in spearheading the ambitious timbuktoo initiative, "With established operational presence and institutional capacity across the African continent, UNDP is uniquely positioned to leverage its trusted network of development actors and harmonize the interests of diverse stakeholders including, governments, founders, multilateral institutions, academia, and the private sector. This convening power and collective approach enables the effective delivery of the bold and ambitious, timbuktoo Initiative.”
Joan Manda, Global Lead for timbuktoo, sharing insights on the initiative.
Following the insightful presentations, the panel sessions featuring a diverse representation of key stakeholders in the innovation ecosystem sparked dynamic dialogue around the power of blended finance, an increasingly critical approach in the African investment landscape. As public, private, and philanthropic capital converge, blended finance is proving to be a powerful tool for de-risking investments and unlocking capital for ventures that create real impact. Panelists emphasized how this model can help address persistent challenges like regulatory fragmentation, limited trade infrastructure, and early-stage funding gaps—all of which stand in the way of innovation reaching its full potential.
In addressing the evolving needs of Africa’s entrepreneurial ecosystem, Artak Melkonyan, Senior Technical Advisor for Financing, Impact Funds, and Accelerators at UNDP Africa, emphasized the critical importance of context-specific financial strategies. He noted that, "Blended finance isn't a one-size-fits-all solution in Africa's dynamic startup ecosystem. Venture Capital that targets fastly growing and highly scalable ventures, demands liquidity-focused tools, while structures targeting typical SMEs such as impact PE funds need de-risking instruments like first-loss guarantees. This highlights the need for a nuanced approach to blending mechanisms to unlock the catalytic capital."
Panelists engage in a dynamic discussion during the roundtable event.
Roundtable discussions gave participants the chance to contribute directly to shaping the timbuktoo initiative’s roadmap. With the timbuktoo initiative in full implementation mode, the focus is on building a responsive, market-aligned ecosystem that works for both founders and funders. The breakfast meeting served as a working session for honest exchange and alignment.
“We recognize that there is no one-size-fits-all approach when it comes to investing in and supporting early-stage companies in Africa. Convening stakeholders from across the capital continuum is critical for fostering candid conversations about the unique and diverse challenges African entrepreneurs face. Only through honest discussions, will we be able to work together as an ecosystem and ensure that entrepreneurs receive the appropriate type of capital and support they need to grow their businesses and thrive.” — Melissa Tickle, Investment Director, FINCA Ventures
Launched in January 2024, the timbuktoo initiative is designed to create the world’s largest support network for African startups. Through a growing system of UniPods and Thematic Hubs located across the continent, timbuktoo is helping young entrepreneurs not just imagine change, but lead it. The initiative is building the infrastructure, both digital and institutional needed to power a new generation of African innovators. As the timbuktoo movement gains momentum, it is building not just an ecosystem, but a global community committed to reimagining what’s possible for African innovation.
About FINCA:
FINCA is a global organization committed to creating pathways out of poverty through sustainable, scalable solutions rooted in the needs of the people it serves. Operating in some of the world’s most challenging markets, FINCA provides financial and non-financial tools that help individuals and communities build resilience, generate income, and invest in their children’s education. FINCA’s work is driven by the belief that all people should have the opportunity to leverage their wisdom, talent, and effort to determine their own destiny, and aims to reach at least 40 million people by 2028 with proven solutions that spark lasting impact. For more information, visit www.finca.org.
About the UNDP timbuktoo programme
The United Nations Development Programme works in over 170 countries worldwide to achieve the Sustainable Development Goals. The UNDP timbuktoo initiative is a pan-African movement aimed at unlocking Africa’s innovation potential by fostering entrepreneurship and economic growth across the continent. It supports businesses in high-growth sectors, by providing funding, expertise, and access to global markets. The Creatives Hub is one of ten hubs across the continent.
