PRESS RELEASE: The Legatum Center at MIT Announces Its Largest Cohort of African Foundry Fellows to Date

Cambridge, MA, September 27, 2024 – The Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT) proudly announces its 4th and largest cohort of Foundry Fellows for the 2024-2025 academic year. This year's cohort of 15 exceptional entrepreneurs from across Africa represents the Center’s unwavering commitment to advancing innovation-led entrepreneurship in global growth markets. 

The selected fellows, who are based in five of Africa’s rapidly growing economies—Nigeria, South Africa, Morocco, Zambia, and Kenya—are all founders of innovation-driven companies poised for exponential impact. Their ventures span a variety of sectors: EdTechs expanding access to learning opportunities,  FinTechs revolutionizing financial services, and agriculture, renewable energy, ethical mining, and telecom firms driving sustainability and connectivity. 

Dina H. Sherif, Executive Director of the Legatum Center, emphasized the significance of the Foundry Fellowship in fostering a strong community, "Every year, the Foundry Fellowship strengthens a powerful network of entrepreneurs committed to leading change in their home markets and across the continent. With each new cohort, we are not only building a community of innovators but also expanding a support system that continues to accelerate growth and amplify impact in Africa's most dynamic sectors." 

Over the course of the eight-month program, the fellows will engage in a transformative journey of leadership development, blending immersive seminars, experiential learning, and access to MIT’s global network of mentors, advisors, and alumni. This experience will equip them to lead initiatives that foster ecosystem development across Africa. As part of the fellowship, the first innovation and entrepreneurial ecosystem tour and Adaptive Leadership retreat will take place in Kenya in November 2024, further deepening the Foundry Fellows' understanding of Africa's innovation landscape. 

Reflecting on the year ahead, Jennifer Brady, Senior Advisor for the Foundry Fellowship, noted, “The Foundry Fellowship has established itself as a unique platform, attracting some of the most impactful entrepreneurs on the continent. The months ahead offer a chance for these accomplished leaders to learn and grow in profound ways, both while in the program and in the future as part of the lifelong alumni community.”   

The Legatum Center remains dedicated to supporting Africa’s top entrepreneurs to lead innovative solutions that drive sustainable prosperity across the continent. For more information about the Foundry Fellowship and other initiatives, visit mitsloan.mit.edu/cde/programs. 

ENDS 

 About the Legatum Center: The Legatum Center for Development and Entrepreneurship at MIT was founded in 2007 on the belief that entrepreneurs and their innovation-driven solutions are key to advancing economic and system-level change in global growth markets, driving lasting change in their communities, and championing the mission of prosperity for all.