Renowned South African entrepreneur and renewable energy pioneer Linda Mabhena-Olagunju has been appointed Chairperson of the Abadali Fund, a J.P. Morgan Equity Equivalent Investment Fund created under the Department of Trade, Industry and Competition’s (dtic) Equity Equivalent Investment Programme (EEIP).
The Abadali Fund is designed to accelerate the growth of Black-owned and Black-controlled businesses that have historically been excluded from mainstream funding. Over the next eight years, the fund plans to support more than 500 early-stage enterprises and enable the creation of at least 1,000 permanent jobs across South Africa.
The fund is managed by Edge Growth, a leading South African SME investment firm, in partnership with ProfitShare Partners, a fintech specialising in short-term capital solutions for small businesses. Together, they bring strong capabilities in enterprise development, early-stage funding, and technology-driven finance.
A pioneering entrepreneur and global thought leader
Mabhena-Olagunju is the Founder and CEO of DLO Energy Resources Group (Pty) Ltd, a 100% Black woman-owned independent power producer that owns and operates some of Africa’s largest wind farms. She is internationally recognised as one of the first Black women in the world to own and operate a utility-scale renewable energy power plant.
In 2014, through DLO Energy Resources Group, she co-developed two utility-scale wind farms under South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), a landmark achievement that placed her among the most trailblazing leaders in the global energy sector. Today, her portfolio is expanding across the continent, with renewable energy projects underway in Zambia, Botswana, and Nigeria.
As a Black woman founder in a sector long dominated by multinational corporations, her leadership represents a bold redefinition of ownership, equity, and innovation in the clean energy transition. Beyond her entrepreneurial ventures, she is a seasoned board executive and strategic advisor, having served on the advisory boards of the University of Oxford, the Zayed Future Energy Prize, Energy for Access, and City Power Johannesburg.
Her influence spans energy policy, innovation, and inclusive development on both national and international platforms. She has received numerous accolades, including the Forbes Africa Entrepreneur Award, the Veuve Clicquot Businesswoman Award, the CNBC All Africa Business Leaders Award, and the Black Business Quarterly Business Award for Most Innovative Company.
In 2022, she launched the DLO Skills Initiative, an AI-powered training platform designed to equip Africa’s workforce with the technical and entrepreneurial skills needed to thrive in the renewable energy economy. A passionate advocate for youth empowerment and skills development, she is committed to bridging the gap between innovation, training, and economic inclusion.
Linda Mabhena-Olagunju holds an LLB from the University of Cape Town, an LLM (with distinction) from the University of Aberdeen, and is a Massachusetts Institute of Technology (MIT) Kuo Sharper Fellow.
“I am honoured to serve as Chairperson of the Abadali Fund,” said Mabhena-Olagunju. “As a Black female entrepreneur, I’ve personally faced the funding barriers this programme seeks to dismantle. I believe entrepreneurship is essential to solving South Africa’s youth unemployment crisis — and this fund has the potential to be truly catalytic in enabling that change.”
Her appointment signals J.P. Morgan’s strong commitment to supporting Black entrepreneurship and driving inclusive economic growth in South Africa.
