Rwanda will host Timbuktu, an African innovation hub worth $1 billion

East African country, Rwanda which has become a front liner in tech and one of Africa’s major contributors in the technological sector, is set to host Timbuktu, the financial hub of the United Nation Development Programme (UNDP).

Over the last decade, Rwanda has evolved into a major tech hub in Africa with recognizable infrastructure and policies, thereby attracting the attention of key players in the tech industry.

This strategically positioned the country to fall in line with plans to establish eight hubs across Africa which targets logistics, financial technology, agricultural technology and the creative industry.

With the $1 billion project, the UNDP aims to carry out a revolution of African start-ups. The investment is also expected to develop innovation across eight Pan-African hubs, targeting about 1,000 business start-ups as beneficiaries.

The hub is expected to be managed by private organizations of which concerns have been raised for more competent local firms to be given the opportunity to join the bid for the project to define the African concept in the hub.

According to sector players, apart from the fact that, the involvement of local firms will establish the African touch in the project, it will also upscale the local industry, boosting economic growth.

Rwanda has been praised widely by many for its rise from genocide to a world class nation drawing international attention. President Paul Kagame has equally been at the receiving end of plaudits for his visionary policies to make the now Rwanda’s reality a worthy one.