$100M Philanthropy-Backed Fund Launched to Support Manufacturers

$100M philanthropy-backed fund launched to support manufacturers

A fund that will invest in new African manufacturing companies launched with the aim to mobilize $100 million over the next five years.The Africa Jobs Fund founded by Daniel Yu, former CEO of Kenyan e-commerce logistics startup Wasoko, plans to raise capital from philanthropic sources. Yu told Semafor this approach will allow the fund to make long-term, higher-risk investments without the pressure to return capital that is typical of traditional…

Africa Jobs Fund Targets $100M to Lift Worker Incomes Across Sub-Saharan Africa

A new philanthropic investment fund focused on job creation in Sub-Saharan Africa launched on Tuesday, targeting $100 million in capital to back companies in export manufacturing and international labour mobility – two sectors it says can collectively generate more than $50 billion in income gains for African workers. The Africa Jobs Fund (AJF), housed at … The post Africa Jobs Fund Targets $100M to Lift Worker Incomes Across Sub-Saharan Africa …

Africa Jobs Fund Launches, Aiming To Mobilise $100M Philanthropic Investment To Boost Workers’ Incomes By Over $50 Billion

New fund led by Wasoko founder Daniel Yu will back high-impact companies in export manufacturing and international labour mobility. Nairobi, 27 May 2026 – Africa Jobs Fund [1] (AJF), the philanthropic investment fund, launched today to mobilise $100M to create high-productivity jobs that sustainably raise incomes and transform quality of life for workers across Sub-Saharan Africa. The fund will be led by Daniel Yu, and housed at Renaissance Phil…

Wasoko founder Daniel Yu launches $100m project to fight poverty and unemployment in Africa

Wasoko founder Daniel Yu has launched the Africa Jobs Fund (AJF) to create jobs in Sub-Saharan Africa. The initiative, with a $100 million backing, aims to close the unemployment gap and back companies creating high-productivity jobs across Sub-Saharan Africa.  According to the statement seen by Technext, the fund, led by Daniel Yu, will be backing founders in this region to create jobs that raise incomes and transform the quality of life for wo…

Africa’s Tech Leaders Turn From Startups To Factory Floors

A unique USD 100 M philanthropic fund, backed by some of Africa’s most consequential tech founders, is betting that the continent’s startup economy has missed the trick chasing funding rounds instead of factory floors. The Africa Jobs Fund (AJF), launched today by Wasoko founder Daniel Yu and counting Andela and Flutterwave co-founder Iyin Aboyeji among its senior advisors, is targeting large-scale formal job creation, a problem that venture cap…

Wasoko Cofounder Daniel Yu Raises $100 Million Africa Jobs Fund

Daniel Yu, co-founder of Wasoko, the Kenyan B2B e-commerce company that merged with Egypt’s MaxAB, has launched the Africa Jobs Fund (AJF), a new philanthropic investment fund which aims to mobilise $100 million over the next five years. The fund intends to support companies that create high-productivity jobs across Africa. According to the fund, AFJ will focus on export manufacturing and international labour mobility, two sectors it considers a…