By Adedapo Adesanya
The Obuntu Foundation, a catalyst for the next generation of Africa-focused Fund Managers, has partnered with Mennonite Economic Development Associates (MEDA), a global non-profit organization focused on economic development and entrepreneurship for the third cohort of the Obuntu Launchpad Programme.
The organisation has called for nominations for the programme, which will close on June 9, 2024. It allows African-focused fund managers to advance their investment approach, optimise fund outcomes and expand their impact.
The Obuntu Launchpad Programme, supported by MEDA, equips early-stage fund managers with the essential tools and expertise to build and operate successful funds within an African context.
The 12-month programme will provide tailored training, LP engagement opportunities, and a collaborative network for knowledge sharing and deal flow through mentorship, fundraising assistance, and promoting innovative fund models tailored to the unique needs of African startups. The fellowship features practitioner-led sessions by industry experts like Lewam Kefela (Partech), Andreata Muforo (TLcom Capital), and Fope Adelowo (Helios).
Since its launch in 2022, the Obuntu Launchpad Fellowship has successfully run two cohorts, supporting 24 fellows representing 21 funds with a combined target Assets Under Management (AUM) of $281 million. Notable alumni include Yewande Odumoso (Founding Partner, HoaQ), Aly El Shalakany (Managing Partner, Acasia), Thandeka Xaba (General Partner, Savant) and Emmanuel Adegboye (Head, Madica).
According to a statement shared with Business Post, the programme aims to nurture a vibrant ecosystem of skilled, innovative fund managers who continue to contribute significantly to the entrepreneurial landscape across the continent with achievements including more women participation, spread across several African countries including Egypt, Morocco, Nigeria, Kenya, Tanzania, Uganda, Namibia, Botswana, South Africa, Zambia, Mauritius, Côte d’Ivoire, and Senegal.
The partnership with MEDA will strengthen the Obuntu Foundation’s mission of empowering a thriving ecosystem of African fund managers. By attracting significant investments from both local and international backers, this collaboration injects vital capital into a continent where startups remain underfunded yet abound with potential.
Speaking on this, Wambui Kinya, Co-Founder of the Obuntu Foundation said, “We are excited to join forces with MEDA, an organization that shares our passion for empowering African entrepreneurs and driving economic development.
“This partnership validates our successes to date and will significantly enhance our Launchpad Fellowship, providing our Fellows with unparalleled access to MEDA’s vast network, resources, and expertise.”
“MEDA is thrilled to partner with the Obuntu Foundation as we need to do everything it takes now to build a continent with shared prosperity and sustainable, inclusive growth,” said Mrs Dorothy Nyambi, President and CEO of MEDA.
“This partnership is critical and represents our shared commitment to strengthening the impact investment ecosystem in Africa by enabling more women to lead investment vehicles thereby unlocking the full potential of African entrepreneurship to job creation for women and youth via investments in small and medium-sized enterprises,” she added.
Modupe Gbadeyanka