How Eleni Gabre-Madhin is shaping Africa's tech future

Dr Eleni Gabre-Madhin isn't your typical African tech entrepreneur.  A scholar with a background in economics and a strong dose of social purpose, Gabre-Madhin is a technology leader who has spent more than 20 years influencing the rapidly developing digital environment in Africa.

Gabre-Madhin, an Ethiopian by birth, started out on a path distant from the bright lights of a computer. Having lived in Kenya, Rwanda, Mali, Togo and Malawi, she earned her PhD in Economics from Stanford University in the United States and initially concentrated on using technical solutions to address challenges in Africa. She understood how technology could revolutionize the continent and spur positive change.

With prestigious posts at the World Bank, UNCTAD in Geneva, the International Food Policy Research Institute in Washington, the International Food Policy Research Institute in Washington, and most recently Chief Innovation Officer at UNDP in New York, she is well regarded as an authority on agricultural commodities markets and African development.

As the creator and CEO of blueMoon, Ethiopia's leading incubator and early-stage startup investor, Gabre-Madhin is a well-known personality in the country's entrepreneurial scene. In addition, she is the creator and chair of Ethiopia's first co-working space company, blueSpace.

Substantial impact

Prior to her present endeavors, Gabre-Madhin made a substantial impact as the driving force behind the Ethiopia Commodity Exchange (ECX) between 2006 and 2012. Within three years of its founding, the ECX traded $1.2 billion annually, demonstrating extraordinary performance under her direction. Throughout Ethiopia, this accomplishment significantly impacted the lives of more than 15 million small farmers.

Later, Gabre-Madhin founded Timbuktoo Africa, an innovative project aimed at developing a pan-African startup ecosystem. She is equipping the next generation of creatives to take on the hardest problems facing the continent.

At the 24th session of the World Economic Forum in Davos in January this year, timbuktoo Africa was launched, with assistance from the United Nations Development Programme (UNDP). 

Timbuktoo, which takes its name from the ancient West African center of learning, Timbuktu, supports innovation clusters in eight important African cities, ranging from Lagos to Nairobi. These hubs concentrate on particular industries, such as healthtech and agritech, to provide focused assistance to companies that have solutions that are pertinent to their local area.

$3 million

Paul Kagame, the President of Rwanda, has already provided $3 million in funding for the project, which is headquartered at the Kigali International Financial Centre. Within the next ten years, it hopes to invest $1 billion in African startups. In Africa's IT sector, where investment for startups saw its largest fall in a decade last year, Gabre-Madhin expects that this would support startup venture capital. 

The strategy for timbuktoo was to create a wide ecosystem of mentors, financiers, tech leaders to elevate the african talent beyond offering them a room and broadband. The program provides vital mentoring, connections to capital sources, and educational opportunities to provide aspiring young business owners the tools they need to succeed.

Gabre-Madhin's ideology is based on this emphasis on social impact. In order to ensure a diversified pool of innovators tackling a range of challenges, from financial inclusion to climate change adaptation, Timbuktoo Africa prioritizes businesses led by women and youth.

The tech titan is not only influencing the future of the continent but also acting as an inspiration for a new generation of African women who aspire to use technology to create a better tomorrow by fostering a thriving tech environment that fosters African inventiveness