UNDP to raise $1 billion to plant startup hubs across Africa
- The UNDP plans to raise $1 billion to build technology hubs in Africa to support startup innovation.
- The first hub will launch in Lagos, Nigeria, with others to follow in different African cities.
- The initiative aims to back over 10,000 youth-led startups across various economic sectors.
The UNDP's initiative to build technology hubs in Africa is a positive step towards supporting startup innovation and addressing the decline in venture capital inflows. By focusing on youth-led startups and providing funding, these hubs have the potential to drive economic growth and create job opportunities in the continent. It is crucial for public and private institutions to contribute to the $1 billion fund to ensure its success.
