In October 2018, Naspers announced its Naspers Foundry initiative to boost the South African technology sector.
Naspers Foundry’s mandate is to help South African technology entrepreneurs to develop and grow their businesses by using its R1.4 billion fund. Naspers CEO Bob van Dijk said the fund would encourage and back South African entrepreneurs to create businesses which ensure South Africa benefits from technology innovation.Mahanyele-Dabengwa leads Naspers’ business in South Africa and is responsible for Naspers Foundry and Naspers Labs.
Under her leadership, Naspers Foundry invested in numerous South African technology and finance businesses. To date, it has invested over R500 million in eleven businesses. Here is a list of these investments.In June 2019, Naspers Foundry announced its first deal – a R30 million investment in South African tech start-up SweepSouth. The company was co-founded in 2014 by Aisha Pandor and Alen Ribec, and offers an online cleaning services platform that connects clients with trusted, reliable domestic cleaners.