B20 South Africa Unveils $100 Million Digital Inclusion Fund for African Entrepreneurs
Announced at the B20 South Africa Summit breakfast, the fund represents a tangible outcome of the Task Force’s policy initiatives during South Africa’s B20 presidency and seeks to accelerate digital inclusion across the continent.
The Business 20 (B20) South Africa Digital Transformation Task Force has launched a R1.7 billion ($100 million) Digital Inclusion Fund aimed at supporting technology-focused start-ups across Africa. Announced at the B20 South Africa Summit breakfast, the fund represents a tangible outcome of the Task Force’s policy initiatives during South Africa’s B20 presidency and seeks to accelerate digital inclusion across the continent.
The fund’s primary mission is to back African entrepreneurs whose ventures aim to bridge the continent’s digital divide. Investments will prioritize sectors critical to Africa’s digital economy, including connectivity solutions, digital skills and education, health technology (Healthtech), financial inclusion through fintech for the unbanked, and agritech innovations.
Structured as a blended capital platform, the fund combines concessional capital from development finance institutions and philanthropic partners with commercial investments from private sector stakeholders. This model is designed to de-risk early-stage investments while enabling scalable, sustainable impact. In addition to financial support, the fund offers start-ups access to a robust ecosystem of global partners, regulators, and distribution networks across the B20 and G20 communities.
Although the fund has been officially announced, applications are not yet open. The Digital Transformation Task Force will spend the coming months finalizing governance structures and securing anchor commitments from stakeholders before formally inviting entrepreneurs to apply.
Shalini Khemka, co-lead of the fund, highlighted the moral imperative of digital transformation, noting that 2.6 billion people remain excluded from the digital economy. She emphasized the fund’s goal of aligning capital with connectivity, capability, and distribution to ensure that digital progress reaches and empowers a wide audience.
The B20 Digital Transformation Task Force, which spearheaded the initiative, is chaired by Phuti Mahanyele-Dabengwa, CEO and executive director of Naspers South Africa, reinforcing the commitment of business leaders to fostering inclusive digital growth across Africa.
