Who we are

We are holistic early stage gender-lens investors committed to investing in Africa’s Women entrepreneurs.

Our mission is to drive economic growth and development on the African continent through investing in entrepreneurship development with the hope of contributing to the economic transformation of individuals, communities and regional economies.

What We Do

Our unique capabilities are highlighted in a 3-pronged approach:

  • Early stage gender-lens funding
  • Entrepreneur development and acceleration
  • Business research and advisory

Early-stage gender lens funding

Research has shown that the biggest obstacle women face when starting and growing any business is access to funding and ability to raise capital. The IFC reports an approximate $320 billion dollar gap in financing for women and that women-owned businesses appear restricted in their growth paths and are therefore skewed towards smaller firms. This is in spite of the fact that it has been found that female-owned businesses consistently out-survive male-owned businesses in many industries.

Africa trust group are the fund managers for:

  • The ZAR100m Enygma Ventures Fund focused on investing in majority women owned businesses in SADC
  • The ZAR20m Shift Fund focused on investing in entrepreneurs and innovators in Africa creating solutions that will help redefine our post-pandemic world

Entrepreneur development and acceleration

Leaders set the tone, pace and culture of an organisation. Therefore, ensuring that the entrepreneur is developing both their personal leadership capacity and business skills is cardinal to creating a growing enterprise that can scale and remain relevant in dynamic market environments.

Our online platform Startupcircles.ai helps entrepreneurs to build commercially viable businesses and provides them guidance and access to a network of like-minded entrepreneurs and investors. The platform makes the startup journey more enjoyable and less lonely for entrepreneurs.

Business research and advisory

In this information economy it is easy for investors, policy makers and other key stakeholders looking to invest in entrepreneurship in Africa to get lost in the multitude of information and data. ATG provides research and advisory services in the following areas:

  • Gender-lens investing
  • Funds development and management
  • Entrepreneurship eco-system development
  • ATG has served clients across Africa, Europe and North America. Projects have included strategy development for gender-lens VC funds, debt funds, gender bonds and eco-system development in various parts of the continent.

Meet our team

Lelemba Phiri - Principal


Expertise: Gender, development finance, angel investing, public & private sector experience, marketing. PhD Candidate

Yolanda Mabuto - Enterprise Development


Expertise: Enterprise development, SME business training and capacity building, Fundraising. PDBA

Kaleo Maoka - Portfolio Manager


Expertise: Clients & contracts management, client & stakeholder relations, portfolio management MBA

Sandras Phiri - Leadership Development


Expertise: Leadership development, start-ups, coaching, entrepreneur ecosystems, innovation and tech. MBA

Malebeoana Phafane - Legal Counsel


Expertise: Legal, commercial contracts banking, mergers and acquisitions, law in complex environment. Masters in law

Nuraan Arieff - Project Manager


Expertise: Project management, administration, human resources and payroll. Project Management

Lyndall Marwick - Forecasting


Expertise: Financial forecasting and modeling, financial analysis and planning. CA(SA)

Tessa Plen - Marketing


Expertise: Marketing and business brand growth, solutions selling and sales, change management. B.Com cum laude

Uys & Kie - Accounting


Expertise: Accounting, financial reporting, personal and business tax accounting and planning, auditing, independent review. PA(SA) PTP(SA)

Karen Coetzee - Process Optimization


Expertise: Business process analysis and modeling, business and information flow, process optimization. BBA

Danai Musandu - Adviser


Expertise: Investment analysis, investment management, risk analysis, fund management. BCom Hons

Keith Davies - Adviser


Expertise: Start-up fundraising, finance and data analytics, risk management, investment banking. MBA

Our Portfolio

See our portfolio at Enygma Ventures

Our Stories

October 11, 2019

New Female Focused VC Fund

December 23, 2018

Fundraising Roadshow – Angola

November 23, 2018

Fundraising Roadshow – Egypt

October 28, 2018

Gender lens angel investment fund