Lagos: Ten African AI startups will receive up to 200,000 dollars each under the Askya AI Growth Platform, chaired by the Chief Executive Officer of Moniepoint, Mr. Tosin Eniolorunda. Moniepoint disclosed this in a statement on Tuesday, stating that the pan-African initiative would also provide the selected startups with strategic guidance, market access, and support to achieve product-market fit and scale across the continent.
According to News Agency of Nigeria, Eniolorunda expressed that African entrepreneurs have the capacity to develop technology solutions for global users but require stronger support to translate their ideas into commercially successful businesses. He emphasized the potential of AI as a significant opportunity for Africans to build solutions for a global audience, noting the readiness of young founders who need execution support and access to real customers.
Moniepoint announced that Eniolorunda would chair the first cohort, offering strategic guidance and market access to participating founders. The programme, launched by Askya Investment Partners, will be free for participants, with no equity taken from the selected startups. This initiative arises amidst growing interest in AI as a potential driver of economic growth, innovation, and competitiveness across Africa.
Moniepoint referenced an African Development Bank estimate suggesting that the inclusive deployment of AI could contribute up to one trillion dollars to Africa’s Gross Domestic Product by 2035. Mr. Babacar Seck, Founder and Managing Partner of Askya Investment Partners, highlighted that Eniolorunda’s experience in building a technology company focused on African needs would be instrumental in shaping the next generation of African technology entrepreneurs.
Seck added that the programme aims to support selected founders in achieving product-market fit, building commercial traction, and positioning their businesses for expansion across the continent. Applications are open to African AI-native startups, with shortlisted candidates expected to be announced in October.