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    Home»Business»UNDP teams up with Ethiopia’s industry ministry to open a pan-African tech hub.
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    UNDP teams up with Ethiopia’s industry ministry to open a pan-African tech hub.

    Insider EditorBy Insider EditorNo Comments2 Mins Read
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    The UNDP (The United Nations Development Programme) and Ethiopia’s Ministry of Industry have teamed up to launch the Timbuktoo ManuTech Hub in Addis Ababa. This hub is designed to support African startups with funding, mentorship, and access to cutting-edge technology. Set to open in early 2025, it will host startups from across the continent, chosen twice a year through a competitive application process. The first call for applications was announced during Ethiopia’s recent public consultation on its startup policies.

    The ManuTech Hub aims to transform Africa’s manufacturing industry by combining innovation, technology, and collaboration. Startups selected for the program will join a three-month hybrid accelerator, where they’ll receive training, guidance, access to advanced tools, and seed funding to bring their ideas to life.

    This project is part of Ethiopia’s broader “Vision 2025” plan to establish itself as a manufacturing powerhouse in Africa. Back in 2019, Prime Minister Abiy Ahmed unveiled an ambitious strategy to supercharge the country’s manufacturing sector, with hopes of achieving an impressive 11% annual GDP growth over the next decade.

    Ethiopia has already invested heavily, pouring $1 billion into building 18 industrial parks and offering attractive incentives like affordable wages and energy costs. But a 2023 UNDP report shows there’s still a long way to go. Many parks aren’t performing as expected, and the country faces challenges like a lack of skilled engineers and technical expertise. Overcoming these hurdles will be key for Ethiopia to compete with global manufacturing leaders like India and Bangladesh.

    #africa #business #Trending
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    Kenya has expanded its tax net, now targeting foreign income linked to operations in Nairobi.

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