A financial consulting firm that conducted an investigation into 54 Collective's financial practices.
Jobzyn Raises Funding to Expand AI-Powered Recruitment Across Africa
Janngo Capital announces investment in Jobzyn, a Moroccan recruitment startup. Jobzyn utilizes AI-driven tools to streamline recruitment and improve talent matching.
Morocco’s Jobzyn raises pre-seed led by Janngo Capital to scale AI-powered hiring across Africa
Jobzyn raised an undisclosed pre-seed round led by Janngo Capital to scale product development. The startup uses AI to automate candidate matching and soft-skill assessments.
“Mastercard Foundation’s agreement was not terminated due to a breach,” Bongani Sithole, 54 Collective’s CEO
54 Collective, an early-stage venture studio, shut down in February 2025, laying off over 40 employees. Mastercard Foundation withdrew funding due to concerns over 54 Collective's rebranding and potential conflicts of interest.
African venture firm, 54 Collective, forced into liquidation over misused grant
The South African High Court provisionally liquidated 54 Collective following allegations of serious financial misconduct. The Mastercard Foundation disbursed over $42 million to the firm, which was initially registered as Africa Founders Ventures NPC.
Africa’s Banking Boom Faces Cyber Risks
59% of African financial institutions identify cybercrime as a major threat according to the 2024 African Financial Industry Barometer. 70% of respondents in a Fortinet report believe that cybersecurity skills shortages create additional risks for their organizations.
