BTA2023 South African investor Magda Wierzycka, founder and CEO of asset manager Sygnia, has returned to South Africa after leaving the United Kingdom, where new tax reforms targeting wealthy non-dom residents prompted her relocation.
Widely regarded as South Africa’s richest self-made woman, Wierzycka is now preparing to launch a venture capital fund focused on artificial intelligence startups to support local innovation and help retain tech talent in the country.
The planned fund will invest in early-stage AI companies, offering not only capital but also support in areas such as licensing, marketing, and product development.
Speaking about the initiative, Wierzycka said many African countries have strong technical talent but lack sufficient funding ecosystems to support emerging innovators.
“We have the same intellectual capital, but not the same access to capital,” she noted.
The new AI fund is expected to launch within six months, with Sygnia investing part of its own capital and running a national competition to identify promising startups.
Born in Poland, Wierzycka moved to South Africa as a teenager and went on to build one of the country’s leading investment firms. Today, Sygnia manages about R461 billion in assets, while her personal net worth is estimated at around $250 million.
Her return signals renewed investor confidence in South Africa’s growing technology and innovation sector.
