Awethu Project Holdings

The Awethu Project, now Awethu Project Holdings (APH), was started in 2009 in the belief that there is exceptional, but under-developed entrepreneurial potential in emerging economies, and that with the right support and investment this talent can create profound commercial and social value. In 2010 the Awethu Project Incubator (API) received seed capital from Discovery Holdings, and over the next 5 years went on to raise over R100M, primarily from the South African Government’s Jobs Fund. This funding was used to incubate over 2 000 micro entrepreneurs who have created over 3 000 jobs, making API’s high-touch incubation programme the largest in Africa, and one of South Africa’s lowest-cost and most scalable job creation models. API’s “next generation” incubator, currently in pilot phase, will leverage technology and innovation to make our incubation programme available all over the world. While working with thousands of entrepreneurs in API, our team realised that too many lack access to patient equity capital. This insight spawned what is now Awethu Project Capital (APC), our dedicated SME equity fund management business. APC started in 2014 by partnering with the Small Enterprise Finance Agency (sefa) to form the sefa Awethu Youth Fund, a pioneering SME venture fund for emerging black entrepreneurs. From there, APC developed an innovative supplier development and transformation model, which, since 2016, has been invested in by some of South Africa’s top corporates, including SAB/ AB InBev, Imperial Logistics, and Impala Platinum. APC now manages R350M and 30 SME equity investments, and we aim to scale and to contribute to true, rapid transformation of the South African economy.