22 On Sloane Launches AI Platform and $63M Fund for Startups

22 On Sloane, an African startup support organization, launched KUMii, an AI-powered platform in Cape Town, designed to assist African startups and small businesses in navigating the continent's fragmented ecosystem of funding, markets, mentorship, and business support. This launch coincides with a significant financial initiative, as 22 On Sloane aims to raise R1 billion ($63 million) through Sloane Capital to invest in startups and Micro, Small, and Medium-sized Enterprises (MSMEs) across Africa.

The initiatives address the challenges faced by African entrepreneurs in accessing capital, customers, and expertise necessary for growth in diverse markets. Jonathan Ortmans, founder and president of the Global Entrepreneurship Network (GEN), highlighted the issue at the GEC+Africa 2026 summit, noting the concentration of startup growth and late-stage capital in limited ecosystems, emphasizing the need for improved connectivity among entrepreneurs, investors, and resources.