Africa Jobs Fund Launches $100M Initiative to Create High-Productivity Jobs Across Continent

Daniel Yu, co-founder of Kenyan B2B e-commerce company Wasoko, has recently launched the Africa Jobs Fund (AJF), a philanthropic investment fund targeting $100 million over five years. The fund aims to address Africa's deepening poverty and unemployment crisis by supporting companies that create high-productivity jobs through export manufacturing and international labor mobility.

Africa faces significant economic challenges: 439 million people live below the extreme poverty line of $2.15 daily, unemployment stands at 8.91%, and only about three million formal jobs are created annually across the continent. AJF estimates its investments could increase African workers' earnings by over $50 billion while helping at least 250,000 low-income people double their lifetime income.

The fund will focus on two key areas: export manufacturing (helping businesses overcome setup costs for global scaling) and international labor mobility (supporting companies that build formal migration pathways). Led by Yu and Ben Hyman (Talent Safari founder), with advisors including Iyinoluwa Aboyeji (Flutterwave co-founder) and Samantha Power (former USAID head), AJF represents a venture-capital approach to poverty alleviation.

For Nigerian entrepreneurs and job seekers, this fund could create significant opportunities in manufacturing and overseas employment sectors. The fund operates under Renaissance Philanthropy and builds on Yu's previous success in scaling Wasoko across multiple African markets.

SOURCE: https://techcabal.com/2026/05/27/wasokodaniel-yu-africa-jobs-fund/