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Africa’s leading Venture Capital firm Founders Factory Africa rebrands to 54 Collective

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Venture Capital

54 Collective establishes a new era of venture capital in Africa, offering up to $500,000 in equity and non-dilutive capital and value-add support for its founders

We are more supportive than ever of unlocking opportunities for entrepreneurs and ensuring a level playing field for youth and women founders

JOHANNESBURG, South Africa, August 7, 2024/APO Group/ —

Today, leading African venture capital firm, Founders Factory Africa (FFA), has announced its rebrand and name change to 54 Collective (https://54Collective.VC/), evolving its business model to better support transformative technology ventures across the continent through catalytic capital and value-add support through its Venture Success Platform.

Download document: https://apo-opa.co/4diDADB

54 Collective, builds on its exceptional track record of investing in and scaling early-stage ventures in Africa. The new name, 54 Collective, reflects the firm’s ambitious pan-African vision, aspiring to help entrepreneurs grow their businesses to serve all 54 African countries.

The firm is a commercial-first investor and embeds impact in everything it does. 54 Collective invests in ventures from idea to Pre-Series A stage by offering catalytic capital, and value-add support through its Venture Success Platform.

“Our catalytic capital and value-add support to founders, through our Venture Success Platform, signifies our evolution and ongoing mission to support entrepreneurs across Africa and enable them to build without boundaries to drive commercial and impact returns. Our name change to 54 Collective communicates our continued commitment to African founders. We are more supportive than ever of unlocking opportunities for entrepreneurs and ensuring a level playing field for youth and women founders,” commented 54 Collective CEO Bongani Sithole.

Investment strategy

54 Collective, offers equity and non-dilutive capital up to a total of $500k, enabling founders to scale their ventures across the continent. To break barriers of access, female founders receive an additional $150k, to their male counterparts, in the form of a non-dilutive capital. 

The Venture Success Platform is made up of a team of highly experienced venture specialists who provide tailored support. This is in the form of product, growth, commercial relationships, business strategy, talent, technology and data to build ventures for scale. The team also ensures that founders have access to the right funding by preparing them for investor readiness, investor access, fundraising strategies, unlocking debt and impact capital. The Venture Success Platform empowers founders to succeed globally by facilitating networking and community building opportunities.

This unique combination of significant funding and comprehensive support distinguishes 54 Collective as the only Venture Capital firm in Africa offering early-stage founders with the highest amount of catalytic capital and support from the largest Africa-based venture capital team with over 70 staff members in Kenya, South Africa, Nigeria and the UK.

The firm has evolved from investing only in the Agtech, Fintech, and Healthtech sectors to being sector-agnostic in its investments, supporting more founders across many sectors on the continent. ​​54 Collective helps founders navigate complex challenges to achieve commercial success and make an impact on the continent through economic growth and job creation.

In 2023, Founders Factory Africa was named one of the top venture capital investors in Africa, with an active portfolio of over 50 ventures across 10 countries. To date, the firm has supported more than 70 ventures across Africa and helped its portfolio startups to raise nearly $140 million in follow-on capital.

A future of empowerment

With seven of the world’s fastest-growing economies in Africa, the continent’s venture capital sector is rapidly expanding, with $6 billion invested annually. However, this represents less than 1 percent of global venture funding, indicating a significant unmet need for smart capital.

“We are pursuing opportunistic investments in different sectors across the continent where there are uniquely large opportunities for startups to scale and create sustainable impact in these sectors. Our goal is to invest in 105 startups across Africa in the next five years, enabling entrepreneurs to provide solutions to the continent’s biggest challenges and transforming lives and industries,” concluded Sithole.

The firm is well on its way to achieving many of its five-year goals which range from enhanced financial inclusion, improved healthcare access, and creating dignified and fulfilling work to creating a gender forward portfolio. 54 Collective is targeting a portfolio where 50% or more of its startups are founded by women. Currently, from the 17 investments made between January 2023 and July 2024 in its portfolio, 45% of them are founded by women. The firm’s investments are also creating social economic impact in the wider economy. For example, Asaak, a vehicle asset financing company has improved financial inclusion for over 11,000 bodaboda drivers. An impact study uncovered that 79% of these drivers improved their quality of life significantly and 80% increased their income after receiving credit from Asaak.

Speaking on the significance of the brand evolution and future ambitions, 54 Collective’s Executive Chairman and UTOPIA CEO Roo Rogers said, “54 Collective is a powerful economic and social force in the African economy. It is anchored with strong roots on the continent and exceptional network and reputation across the globe. Together with our sister funds, we continue our mission to  redistribute investment and knowledge pathways towards a more inclusive, relevant, and equitable future for the Global South.”

54 Collective’s vision is to create a future where African entrepreneurship drives generational progress and prosperity across the continent. The firm’s new name, catalytic capital, and value-add Venture Success Platform offering, marks a new era for the venture capital ecosystem. 54 Collective is redefining investing across Africa, enabling its founders to build without boundaries and solve some of Africa’s biggest challenges.

Distributed by APO Group on behalf of 54 Collective.

Business

African Energy Leaders Call for Action on South-South Oil and Gas Partnerships

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African Energy Chamber

At AEW 2026, industry representatives from Africa and the Caribbean say joint ventures, enforceable local-content rules and regional financing are needed to turn petroleum resources into domestic industrial growth

CAPE TOWN, South Africa, October 17, 2026/APO Group/ –African and Caribbean energy leaders called for stronger cross-border investment, technology transfer and enforceable local-content requirements to ensure emerging oil and gas producers capture more value from their resources during the session South-South Energy Partnership: Advancing Africa’s Oil and Gas Future in 2026 at African Energy Week (AEW) 2026 in Cape Town.

 




 
 

Ndapwilapo Selma Shimutwikeni, CEO, RichAfrica Consultancy, said partnerships could accelerate skills development.

“From a business perspective, we need to build partnerships that encourage joint ventures between experienced countries and emerging countries like Namibia,” she said. “We need to look beyond just oil production and actually look at the entire value chain.”

Building on Shimutwikeni’s remarks, Gilbert Yevi, Lead Consultant, Grenada Hydrocarbon Technical Working Group, called for partnerships that share risks and benefits rather than simply replace one source of financing with another.

We want cooperation and a collaboration in risk sharing, skill sharing, and sharing in the benefits

“We want cooperation and a collaboration in risk sharing, skill sharing, and sharing in the benefits,” he said.

Yevi also advocated regional training centers to pool expertise and help emerging producers access established industry capabilities.

Expanding on the topic of local content, Eric Williams, Principal Consultant and President, Royal Triangle Energy Solutions, said policies must be linked to a broader national development strategy, using petroleum resources to build domestic industries rather than focusing solely on exports.

“The Trinidad model is about using the molecules to develop the country,” he said, arguing that this vision should shape negotiations with upstream investors and the terms of petroleum contracts.

Omar Farouk Ibrahim, Regional Chair for Africa, World Energy Council, said national sovereignty concerns continued to limit practical regional cooperation, despite public commitments to collaboration.

“The first question they ask is: ‘Will the industry be in my territory?’ If it’s not, why should I? And for as long as we have this mentality, believe me, this cooperation and collaboration we’re talking about will just be theory,” he said.

Across the discussion, speakers emphasized that cooperation must translate into financing, enforceable commitments and local capabilities that endure beyond individual projects.

Distributed by APO Group on behalf of African Energy Chamber.

 




 

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Business

Nigeria NOW! opens its project boardrooms to global investors in Abuja

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Nigeria

With Nigeria’s annual mining revenue up more than tenfold to above N70bn, Nigeria NOW! brings global investors to Abuja on 19 and 20 November, where the Minister of Solid Minerals Development is Chief Host

First and foremost all international investors coming to Abuja should understand that Nigeria is ready and open for business

LONDON, United Kingdom, October 21, 2026/APO Group/ –Platinum group metals, gold, nickel, copper, lithium and rare earth elements lie together in one mineral province in Kaduna State, which the Minister of Solid Minerals Development announced in June as world-class and the Nigerian Geological Survey Agency has verified. The Ministry opens its doors to global investors at Nigeria NOW!, held at the Bola Ahmed Tinubu International Conference Centre in Abuja on 19 and 20 November.

 




  

Processing is following the discoveries, as lithium facilities of $600m in Nasarawa State and $200m near Abuja sit alongside a $400m rare earth processing project in Nasarawa, and mining lease applicants must now submit value-addition plans. Annual mining revenue has risen from about N6bn before the current administration to more than N70bn by the end of 2025.

The routes to export markets are moving too, as the Federal Executive Council has approved deep seaports at Bakassi and Ondo as public-private partnerships, with the Bakassi port alone valued at $2.27bn.

With a month to go, investors and developers travelling to Abuja will meet these projects at close quarters. In investor boardrooms, the Government of Nigeria will review specific projects in depth, from large-scale infrastructure to multilateral programmes such as Mission 300.

Speaking to Energy News Network in September, Tunde Arisekola, Senior Advisor, Geological and Minerals Information at the African Minerals Development Centre, who joins the minerals session on the first day, said that “first and foremost all international investors coming to Abuja should understand that Nigeria is ready and open for business”. In the same interview he described Nigeria’s economy as “stable, safe, peaceful and welcoming to all international investors”.

The programme opens with a welcome from the Chief Host, H.E. Dr Oladele Henry Alake, Minister of Solid Minerals Development, followed by sessions on how the Ministry of Power will drive capacity into Nigeria’s industrial hubs and on the policies opening the minerals sector to foreign investment, including domestic processing and value addition. The second day turns to the pipeline of transport and port infrastructure and the $1bn Domestic Green Bond, and closes with an investors’ clinic on the 2025 Tax Act.

Lagos State Government, a Nigeria NOW! partner, now regulates its own electricity market after NERC transferred oversight to the Lagos State Electricity Regulatory Commission. Hon. Biodun Ogunleye, Lagos State Commissioner for Energy and Mineral Resources, told Energy News Network that “capital follows bankable cashflows”. The state’s job, he said, is “to create both the infrastructure plan and the commercial architecture that makes that plan financeable”.

On Friday 20 November, YES! Nigeria runs alongside the main programme under the theme “Empowering Today’s Entrepreneurs, Building Tomorrow’s Industrialists”. Abuja University and Philomath University are partners, and the Youth Sustainable Development Network is Community Partner. Its opening session hands the stage to young Nigerians already at work in the sector, among them Damilola Hamid Balogun of YSDN and Emmanuel Terwase of Boost Power.

Nigeria NOW! is held under the patronage of the Minister of Solid Minerals Development, with the Lagos State Government, the Nigerian Indigenous Women in Mining & Natural Resources Organisation, Women in Mining, Nextier and The Electricity Hub as partners.

Distributed by APO Group on behalf of EnergyNet Ltd..

 




 

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Business

Global Islamic finance industry assets to reach US$10.5 trillion by 2030 as adoption broadens

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Global Islamic finance

The report draws on the Islamic Finance Development Indicator (IFDI), a global benchmark that assesses the development of the Islamic finance industry across 140 countries through five key areas, Financial Performance, Governance, Sustainability, Awareness, and Knowledge

For ICD, these developments reinforce the importance of ensuring that Islamic finance serves as a practical instrument for inclusive and sustainable economic transformation

KUALA LUMPUR, Malaysia, October 21, 2026/APO Group/ –LSEG, in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of the Islamic Development Bank (IsDB) Group, today announced the results of the 2026 edition of the Islamic Finance Development Report at the Kuala Lumpur Islamic Finance Forum (KLIFF) in Malaysia.

 




  

Key findings of the report include:

  • The global Islamic finance industry maintained a strong growth trajectory in 2025, with total assets reaching US$6.5 trillion, up 9% year-on-year. Growth was supported by the continued expansion in Islamic banking, record sukuk issuance, strong Islamic fund performance, and new regulatory frameworks.
  • Malaysia, Saudi Arabia, the United Arab Emirates, Indonesia, and Pakistan retained their positions as the world’s most developed Islamic finance markets. These countries continued to benefit from comprehensive regulation, strong institutional development, active financial markets, and well-established knowledge ecosystems.
  • Several markets recorded notable gains in performance, including Türkiye, Tanzania, Kenya, Benin, Azerbaijan, and Uzbekistan, highlighting the growing momentum across both established and emerging Islamic finance markets.

The report also identified several structural trends that are shaping the industry’s development. Regulatory reforms and stronger market infrastructure are supporting growth beyond core markets, particularly across Africa and Central Asia. Sustainability guidelines are increasingly prioritised, although activity remains concentrated in developed markets. Digitalisation is also advancing, with FinTech, open banking, and tokenised sukuk influencing financing, issuance, and settlement while widening access to financial products. However, talent development is lagging industry expansion, emphasising the need for stronger specialist education.

Khalid Khalafalla, Acting Chief Executive Officer of ICD, said: “For ICD, these developments reinforce the importance of ensuring that Islamic finance serves as a practical instrument for inclusive and sustainable economic transformation. ICD remains committed to advancing private-sector development across its member countries through targeted financing and the promotion of Islamic financial solutions.”

Mustafa Adil, Head of Islamic Finance, LSEG, added: “Looking ahead, global Islamic finance assets are projected to exceed US$10.5 trillion by 2030, supported by continued Islamic banking expansion, growing sukuk issuance momentum, emerging-market adoption and demand for sustainable and digital financial solutions.”

The report draws on the Islamic Finance Development Indicator (IFDI), a global benchmark that assesses the development of the Islamic finance industry across 140 countries through five key areas, Financial Performance, Governance, Sustainability, Awareness, and Knowledge. It provides a holistic view of the global Islamic finance landscape, measuring progress in alignment with Islamic principles and supporting stakeholders in identifying opportunities for growth and reform.

Read full report: Link (https://apo-opa.co/3TTw9yq)

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

 




 

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