This archive report was first published on 7 August 2020.
On August 7, 2020, Africa Foresight Group (AFG), a pioneering networking platform for freelance management consultants in Africa, secured a significant seed funding of over $700,000. The investment was led by Consonance Investment Managers and GFH Holdings.
Founded in 2016 by Yasmin Kumi, AFG is a female-led and African-owned talent network that has grown to comprise over 100 consultants. Since its inception, the company has completed more than 140 engagements for leading companies, investment funds, and development partners.
According to Yasmin Kumi, founder of AFG, “We are on a quest to build the largest talent network in Africa to elevate the people and businesses of our continent. It has been a journey of three years to get here and we are excited for what lies ahead. I am proud that a majority of our capital comes from Africa-based investors who believe in the importance of what we do full-heartedly.”
AFG's team of experts and consultants work in industries that create real added value for the African continent, including agribusiness, FMCG, and finance. The company is run by a 15-people full-time team based in Ghana and Nigeria, but has strong representation of network members across African markets, such as Nigeria, South Africa, and Kenya.
Consonance Investment Managers, a key investor in AFG, believes that the company's vision of building the largest managed marketplace of freelance talent in Africa is critical for the continent's well-being. Mobolaji Adeoye, Managing Director at Consonance Investment Managers, explains, “AFG ticked attributes we look out for, including a strong women-led management team solving critical problems in a scalable way and a 3-year track record in their sector. We are proud to support their vision and journey.”
GFH Holdings, another key investor, has experienced firsthand the impact of AFG's work in transforming African businesses. The company runs a number of highly successful businesses across the energy, real estate, and retail sectors in Ghana and Nigeria.
