# Askya AI Growth Platform zero-equity Africa startups program selects 10 firms for up to $200,000 each

Askya Investment Partners launched a zero-equity, pan-African accelerator for AI startups, offering up to $200,000 per company and chaired by Moniepoint CEO Tosin Eniolorunda.

- Region: 999
- Date: 2026-09-05
- URL: https://xecon.dev/999/2026-09-05/askya-ai-growth-platform-zero-equity-africa-startups
- Type: AI startup acceleration / Daily Brief

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].

## Overview Sections

### 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].


## Key Questions

- Will the zero-equity model attract a higher volume of applications than traditional accelerator programs, and how will Askya select among them?
- How will the program measure success: by follow-on capital raised, revenue growth, or number of signed contracts per cohort?
- Can the platform replicate Moniepoint's scale trajectory across multiple AI verticals, given the specific infrastructure challenges in African markets?

## How To Catalyze Change

- Tosin Eniolorunda, Moniepoint Founder and Group CEO, as honorary chair of the inaugural cohort
- Babacar Seck, Founder and Managing Partner of Askya Investment Partners
- Femi Awoniyi, Co-Founder and CEO of Magna Collective, as program delivery lead
- Moonshot by TechCabal event on October 28-29, 2026, for cohort reveal

## Thinking Machines For Broad Benefit

- Peer comparison: zero-equity model versus traditional equity-based accelerators in Africa
- Scenario split: Africa as AI producer versus AI importer, as framed by Askya

## In this story

People: Tosin Eniolorunda, Babacar Seck, Femi Awoniyi
Companies: Askya Investment Partners, Moniepoint, Magna Collective, Deep Learning Indaba, Big Cabal Media, TechCabal, Jumia
Tags: ai growth platform, zero-equity, african startups, venture capital, accelerator, askya

## Sources

1. [TechCabal: Askya launches the Askya AI Growth Platform: a zero-equity, pan-African program with up to $200,000 investment for startups, first cohort chaired by Moniepoint’s Founder & CEO, Tosin Eniolorunda](https://techcabal.com/2026/09/04/askya-launches-the-askya-ai-growth-platform-a-zero-equity-pan-african-program-with-up-to-200000-investment-for-startups/)
2. [BusinessDay: Askya offers African AI startups up to $200,000 in zero-equity programme](https://businessday.ng/news/article/askya-offers-african-ai-startups-up-to-200000-in-zero-equity-programme/)