Marula Foundation
Our vision
The place where you are born and the things you are exposed to at an early age are decisive for your access to personal development and adjacent economic opportunities. In this way, the world is a very unequal place and – if we do not act – these differences are bound to increase, which will result in increased human suffering. To our minds, pure philanthropy is not the answer as this is not self-sustainable and often proves ineffective in the long term. Instead, we believe it is important to take chances on social entrepreneurs. These tend to be bold, energetic, visionary people who can drive authentic economic development. In this way, we are working towards an entrepreneurial culture that positively impacts lives and livelihoods in communities across Sub-Saharan Africa. We also contribute to the UN SDG targeting "good health and well-being", "quality education", "decent work and economic growth", and "reduced inequalities".
The Marula Tree (sclerocarya birrea) is a tree indigenous to Sub-Saharan Africa and – in this case – symbolises the growth of Sub-Saharan African born talent. While we think that it is essential for the further economic development of the continent that this talent pool receives improved access to capital, we also see that it is often overlooked by investors. Our mission is to bridge the pioneer gap to empower innovative and sustainable businesses in Sub-Saharan Africa. We will do this by assisting such businesses to become commercially investable by providing board advisory services, technical assistance, catalyst capital, and access to investors. For every EUR 1 donated to the Marula Foundation, it is targeting EUR 3 of commercial investment in a pioneering social entrepreneur by a third party such as a private investor, an investment fund or a bank.
Our mission
Countries
South Africa
Nigeria
Ghana
Rwanda
South Africa

Nigeria

Ghana

Rwanda
Sectors
Education Solutions
Agriculture Solutions
Healthcare Solutions
Currency risk
Foreign exchange is an important part of the risk equation for businesses that operate internationally from any of the abovementioned countries.
Political risk
Given the complexity of capacity challenges across governments and high poverty in many countries in Africa, investors and entrepreneurs alike are vulnerable to political instability fuelled by societal inequalities.
Reliable infrastructure
These challenges vary from access to (consistent) energy, access to (consistent) internet, bad roads, inefficient harbours, and tedious bureaucracy.
Access to talent
Though education outcomes are steadily improving across the continent, entrepreneurs still struggle to find adequate talent needed to grow their businesses.
Access to capital
Banks require security rights, and tend to charge interest rates of 20-30%. The typical entrepreneur does not have access to private investors either.
Corruption
Entrepreneurs in Africa need strong business integrity standards and networks to navigate the pressures of a business environment that may invite corruption.
Challenges of entrepreneurs
Currency risk
Even if the entrepreneur performs very well, all returns on investment may be lost due to currency inflation. Percentages may vary between 5-30%.
Repayment risk
As the entrepreneurs operate in challenging environments, there is an increased risk of failure. Also, there is limited options to agree on security rights.
Political risk
Like for the entrepreneurs, political risk is a concern for investors.
Transaction costs
These costs include due diligence costs, lawyers' fees, local registration fees, and banking fees.
Barriers to investors
Our solutions towards commercial investability
Board
Advisors
Catalyst
Capital
Access to
Investors
Technical
Assistance
Funding
Private individuals
Corporates and family offices
NGOs
Marula Foundation
If you are considering a donation, please do not hesitate to reach out to Elvira de Jong at:

elvira.dejong@marulafoundation.com
The Dutch tax authorities have granted us so-called ANBI-status, which is particularly interesting for donors from the Netherlands. We are also working on a CAF registration for donors from the USA.
Founders and Board Members
  • Elvira de Jong
    Experienced corporate lawyer, board advisor and start-up mentor. Knowledgeable on corporate governance, boardroom counselling, mergers and acquisitions, contracting and impact investing in Africa. Acted as a mentor to entrepreneurs at the Entrepreneurship World Cup, the Oxford Social Entrepreneurship Programme and the Africa Innovation Fellowship. Fluent in Dutch, English and French. SBS Oxford EMBA candidate.
  • Xueming Zhao
    Bank executive and Treasurer. Currently serving as Senior Vice President and Treasurer at a Canadian bank heading up the functions of capital market, liquidity, alternative funding, capital management, ALM, and balance sheet strategy. Also serves as the chair of the pension committee. Expertise in derivatives and fixed income, pension, and strategy. Work experience in the US, Canada, and China. SBS Oxford EMBA graduate.
  • Michael Delefes
    Over 14 years of experience in banking and asset management. Specializing in alternative investment strategies ranging from public to private equity. Michael has worked all over the world spending a great deal of time in South East Asia, China and the Middle East. Most recently Michael worked for CastleMill Equity Partners focusing on UK small and medium cap buyouts. SBS Oxford EMBA graduate.
  • Abi Mustapha-Maduakor
    Executive with over 17 years' experience in leadership roles, financial management and structured products in emerging markets and the UK. Deep private capital in Africa industry expertise. Previous Special Adviser to the Minister of Industry, Trade and Investment in the Federal Republic of Nigeria, responsible for policy programmes to spur private sector investment and SME growth.
    Experienced Board and committee member for various commercial and non-profit organisations in UK and Nigeria. Masters in Chemical Engineering, Chartered Accountant and Oxford EMBA candidate.