UCI 2025 Brings Joy to Kigali as Kagame Highlights Youth Potential
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President Paul Kagame has said that Africa has the labor force that can solve some of the world’s most pressing challenges, drawing it from the fact that Africa has had many success stories done by Africans, including youth.
President Kagame made the statement during the World Economic Forum (WEF) in Davos town, Switzerland on January 17, 2024.
During the forum, Rwanda, and United Nation Development Programme (UNDP) launched a first-of-its kind Africa’s innovation fund on the continent of Africa which is set to be domiciled in Rwanda’s Capital, Kigali.
Named “Timbuktoo” the fund is expected to tap African’s potentials through fostering innovations and bridging the current existing gaps in funding African start-ups for enabling them compete at a global level.
The fund and its facilities will be hosted at the Kigali International Financial Centre (KIFC) which is run and promoted by the Rwanda Finance Limited, a Government of Rwanda Company mandated to promote Kigali as a financial hub.
President Kagame said that with timbuktoo, it is anticipated that the innovation fund targets to generate one billion dollars and create more opportunities for Africa’s youth, and for putting their talents and creativity to good use.
“This means closing the employment and skills gap, not only within our continent but also with the rest of the world. Imbalances in human capital investment are one the main cause of migration,” Kagame said, adding that the fund corresponds with Rwanda’s vision of transforming innovations ecosystem.
Recent innovations in Rwanda
Timbuktoo would not be the first continental innovation fund to be hosted in Rwanda. Towards end of 2024, President Kagame inaugurated the Norrsken Africa in Kigali, which is considered as Africa’s biggest hub for technology innovations and entrepreneurship.
The hub currently accommodates more than 1,200 entrepreneurs, with maximum of youths who are working on different innovative project designed to addressing different outstanding challenges in the ecosystems.
During the inaugural of Norrsken House Kigali, the President shed light on Africa’s potentials and urged investors to mobilize funds to the upcoming innovations.
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