The Business 20 (B20)South Africa Digital Transformation Task Force has established the B20 South Africa Digital Inclusion Fund.
The initiative is aimed at supporting African entrepreneurs who have developed ventures to bridge the digital divide across the continent.
The announcement was made at the B20 South Africa Summit breakfast on Friday.
Inspired by the Digital Transformation Task Force’s policy recommendations under SA’s B20 presidency, the fund has earmarked $100 million (R1.7 billion), to invest in tech-focused start-ups working to contribute to the continent’s digital economy, focusing on sectors such as connectivity, digital skills, education, healthcare, agriculture and financial inclusion.
The B20 serves as the official G20 dialogue forum with the global business community. Established in 2010, the B20 brings together business leaders from G20 member countries and beyond.
Chaired by Naspers South Africa CEO and executive director Phuti Mahanyele-Dabengwa, the B20 Digital Transformation Task Force develops recommendations to advance digital inclusion, enhance cyber security and foster innovation in emerging technologies, such as artificial intelligence (AI) and blockchain.
Its work will also explore enabling policies for smart infrastructure and digital trade on the continent.
Addressing the audience at the event, Shalini Khemka, co-lead of the B20 South Africa Digital Inclusion Fund, said the B20 Digital Inclusion Fund will bring together development finance institutions, philanthropic partners, corporates and private investors to create a unique blended capital platform.
This approach combines concessional and commercial capital, designed to de-risk investments while accelerating scalable impact, she noted.
“2.6 billion people remain excluded from the digital economy, and with it from education, healthcare, finance and meaningful participation in today’s economy, “noted Khemka.
“Digital transformation is therefore not just a global imperative; it is a moral one. It requires universal connectivity, digital skills, inclusive AI governance, and a digital infrastructure that reaches every corner of society. The launch of the B20 South Africa Digital Inclusion Fund is a powerful next step to support these goals. If we invest and lead with purpose and courage, we can ensure digital progress empowers the many, not just the few.”
Advanced discussions are already underway with several leading institutions and investors who have expressed strong interest in participating in the fund as limited partners, says B20.
The Digital Inclusion Fund will operate in alignment with the B20’s broader vision of an inclusive, innovative and globally connected digital transformation.
Over the coming months, the Digital Transformation Task Force will finalise the fund’s structure, governance and anchor commitments in partnership with stakeholders across the B20 and G20 ecosystems and Africa’s innovation and investment communities.
This will then be followed by a formal announcement inviting interested entrepreneurs to apply for the funding.
“What makes the B20 South Africa Digital Inclusion Fund unique is that it offers far more than capital. It connects innovators directly into an ecosystem of global partners, regulators and distribution networks across the B20 and G20.
“By aligning capital with connectivity, capability and distribution, we can turn digital inclusion into a driver of opportunity, dignity and shared prosperity.”
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