Askya Investment Partners, an African venture capital firm, announced the Askya AI Growth Platform on August 31, 2026: a zero-equity, pan-African program that offers up to $200,000 in investment for each of 10 selected AI startups, with the inaugural cohort chaired by Moniepoint Founder and Group CEO Tosin Eniolorunda [S1]. The program targets AI-native, Africa-focused startups from Pre-Seed to Series A that have a live product and demonstrated customer demand [S1].
The six-week hybrid program runs from October 28 to December 4, 2026, with the cohort revealed at Moonshot by TechCabal in Lagos on October 28-29 [S1]. Applications close on September 30, 2026 [S1]. Askya designed the platform in partnership with Magna Collective, which serves as program design and delivery partner [S1].
The African Development Bank estimates that inclusive deployment of AI could add up to $1 trillion to Africa's GDP by 2035, nearly one-third of the continent's current output, according to the investment firm [S1]. Askya stated that Africa can become a producer of AI technology or remain an importer, and that the platform backs founders building generational AI companies addressing Africa's biggest needs [S1].
Program structure and support
The program is free for startups and takes no equity [S1]. Selected companies will be eligible for up to $200,000 in investment through Askya's funds [S1]. During the six-week hybrid program, founders will attend masterclasses, one-to-one coaching, and company-building support covering technology, product, governance, and distribution, alongside access to cloud, compute, customers, and talent [S1].
Femi Awoniyi, Co-Founder and CEO of Magna Collective, said: "The program opens on Africa's biggest stage in Lagos, then gets to work. Every week that follows is built around one thing: getting founders closer to a signed contract" [S1]. The program combines virtual sessions with in-person activities [S2].
Leadership and partners
Tosin Eniolorunda, Founder and Group CEO of Moniepoint, serves as honorary chair of the inaugural cohort [S1]. Babacar Seck, Founder and Managing Partner of Askya Investment Partners, said: "Since 2024, Askya has advocated for an ambitious approach to African AI. With the Askya AI Growth Platform, the firm puts its money where its mouth is: backing founders building generational AI companies that address Africa's biggest needs" [S1].
Founding partners include Deep Learning Indaba, Africa's largest AI community, where the program was unveiled at Pan-Atlantic University in Lagos; Big Cabal Media, whose Moonshot by TechCabal will host the cohort reveal and kickoff; and Magna Collective [S1]. Additional partners across cloud and compute infrastructure, pan-African policy institutions, and enterprises will be announced before the October cohort reveal [S1].
- Askya Investment Partners portfolio includes Moniepoint and Jumia [S1].
- Magna Collective is led by CEO Femi Awoniyi, former program lead for the Google Black Founders Fund in Africa [S1].
- Babacar Seck is former CEO of Digital Africa and a founding member of Proparco's pan-African venture capital program [S1].
Context and rationale
Askya stated that African startups already demonstrate ability to build companies at scale, as shown by unicorns from Jumia to Moniepoint, but growth is slowed by limited access to distribution, reliable infrastructure, and lessons from successful founders and operators [S1]. The platform was built to close these gaps [S1].
Eniolorunda said: "Africans can build solutions for people of the world, and AI is the greatest opportunity yet to prove it. Nigerian and African youth are ready; what this new generation of founders needs is execution support and access to real customers" [S1]. The program aims to help startups reach product-market fit and scale commercial traction [S1].
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