A financial consulting firm that conducted an investigation into 54 Collective's financial practices.
“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.
Here’s how forward-thinking tech companies are building inclusive workplaces for women in 2025
Only 87 women are promoted for every 100 men in managerial roles, with women holding just one in four C-suite positions. Leadership gaps persist in Africa, with women's executive representation increasing from 7% to 13% since 2021.
Vantage Capital Secures €14 Million Investment Agreement with SPMS
Vantage Capital finalizes a €14 million mezzanine investment in SPMS. This is Vantage Capital's fourth deal in Morocco.
