2014 Tutu Fellow Ada Osakwe has been appointed as a Non-Executive Director at Factor[e] Ventures. Factor[e] Ventures supports the growth of early stage, technology-enabled companies, solving challenges in energy, agriculture, mobility, and waste in emerging markets. They favour projects with de-carbonized solutions for emerging & frontier markets.
Speaking on her appointment, Ada said that she deeply believes that tech is what will transform Africa’s fortunes in a decentralized, inclusive way. Ada was found partly as a result of the Tutu Fellow's network. Factor[e] approached 2019 Fellow Marcia Ashong, whose company TheBoardroom Africa, was able to connect them with Ada.
The company says that working across the globe, they seek to bring disruptive innovation to the world’s fastest-growing markets. In a statement after her appointment, the company said Ada will “add layers of practical, intellectual, professional and cultural expertise to the board, but nothing is more impressive than [her] clarity of purpose.”
"Factor[e] is leading in this with early-stage investments of up to $750k in transformative companies", she said. "They are building a portfolio that is having a social impact as well as financially strong with impressive risk-adjusted returns."
Factor[e] Ventures, which till now had an all-male board, prioritised their commitment to improving their gender equity and consulted with 2019 Tutu Fellow Marcia Ashong’s TheBoardroom Africa (TBR Africa), to support their search for their newest board members. According to Marcia, "When companies like Factor[e] Ventures come to us seeking help in their search for high-level, executive women leaders they are setting an example for other companies to do the same. Partnering with our organization means that Factor[e] is taking the initiative to seek out the most impressive female executives in Africa to aid in their company's mission and make real impact."
Read more about the appointment.