
Standard Chartered and WomHub Partner to Launch Second Women in Tech Incubator
Standard Chartered Bank and WomHub have announced the launch of the second Women in Tech (WiT) Incubator Programme in South Africa.
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The African Development Bank Group and the United Nations Development Programme (UNDP) are advancing implementation of their AI 10 Billion Initiative, which aims to mobilize $1 billion annually over the next decade to support artificial intelligence adoption across Africa.
Following meetings in Abidjan, Côte d’Ivoire, the partners outlined plans to begin in five countries and expand to 20 by the end of 2027.
The initiative brings together the two institutions and private sector partners to connect AI investment with business productivity and employment.
Their latest update estimates that the program could contribute to 25 million new jobs by 2035, while presenting the financing figure as a mobilization ambition rather than capital already secured.
A UNDP delegation visited the bank’s headquarters from October 5 to 7 to develop the delivery approach. Keyzom Ngodup Massally, Director of the AI Hub for Sustainable Development, led the delegation, which also included UNDP’s Platform for Investment and Technical Assistance.
The discussions followed the initiative’s launch at the Nairobi AI Forum, held in Kenya on February 9–10, 2026.
Participating countries will first assess where AI can improve productivity, then identify and prepare public and private projects for financing.
Country investment platforms will bring governments, investors and regional economic communities together around those projects, giving potential financiers a pipeline linked to national economic priorities.
“Productivity is one of the key measures by which the African Development Bank Group judges the promise of artificial intelligence,” said Solomon Quaynor, the bank’s Vice-President for Private Sector, Infrastructure and Industrialization.
He said the partnership would align public and private capital to support competitiveness, employment and inclusive growth.
The investment strategy draws on the bank’s 2025 report, Africa’s AI Productivity Gain, which estimates that inclusive AI adoption could add up to $1 trillion to Africa’s GDP by 2035.
Agriculture, wholesale and retail, manufacturing, finance, and health account for 58% of the projected gains, or approximately $580 billion, placing established industries at the center of the opportunity.
UNDP identifies potential applications including local-language advisory services for farmers, payment and credit tools for traders, factory maintenance systems, and clinical decision support in primary health facilities.
These examples connect AI investment to practical business needs such as access to finance, production efficiency and service delivery.
Realizing those benefits will require investment in the systems that allow businesses and public institutions to use AI effectively.
The bank’s report identifies reliable data, computing infrastructure, workforce skills, governance and capital as interdependent requirements, meaning investment in applications must be supported by the infrastructure and institutional capacity needed to operate them.
The planned country rollout puts project preparation at the center of the financing effort.
For governments and investors, the practical task is to turn identified productivity opportunities into projects that can attract funding and deliver measurable improvements in business performance and employment.

Standard Chartered Bank and WomHub have announced the launch of the second Women in Tech (WiT) Incubator Programme in South Africa.

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