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Appeal Dismissed, Liquidation Confirmed: Court Delivers Final Blow to Mastercard-Backed $106m African Startup Fund

A South African court has dismissed a final attempt to reverse the winding-up of Africa Founders Ventures (AFV), the non-profit entity behind the Mastercard Foundation-backed 54 Collective, bringing an 18-month legal battle to a definitive close. The High Court in Johannesburg ruled on 12 May 2026 that a provisional liquidation order granted in July 2025…