The Mastercard Foundation Africa Growth Fund is a bold initiative—a USD$200 million Fund of Funds—that works through African investment funds to support early-stage, growth-oriented small and medium-sized enterprises (SMEs) on the continent.
The Mastercard Foundation, MEDA and a consortium of partners have launched the Mastercard Foundation Africa Growth Fund (MFAGF), a new Fund of Funds investing in gender-lens investment vehicles across Sub-Saharan Africa with a focus on first-time and emerging fund managers. The initiative catalyzes and accelerates the growth of small and medium-sized enterprises (SMEs) across Africa, with the goal of creating work opportunities for young people – particularly young women – and building long-term economic resilience on the continent.
The MFAGF works with partners across the region to deliver access to capital and non-financial resources to support investment vehicles that have a high potential for job creation through their investment in entrepreneurs and emerging businesses. The initiative also includes a significant Business Development Services platform that benefits both SMEs and investment vehicles.
Scope
The Fund-of-Funds initiative will help advance the Mastercard Foundation’s Young Africa Works strategy, which aims to enable 30 million young people in Africa, particularly young women, to access dignified and fulfilling work by 2030.
Funds that are owned and led by African entrepreneurs and located on the African continent are often considered high-risk. At the same time, African SMEs struggle to access the financing they need to scale, inhibiting their potential to drive economic growth and employment on the continent.
The Mastercard Foundation Africa Growth Fund tackles both challenges by investing in and strengthening African investment funds. This approach, in turn, supports African SMEs.
Target Audience
– Investment vehicles that have a high potential for job creation
– Small and Medium-sized Enterprises (SMEs)
Benefits
– Get access to capital and non-financial resources.
– Get access to the Business Development Services Platform.
For More Information:
Visit the Official Webpage of the Mastercard Foundation Africa Growth Fund (MFAGF)