The Mastercard Foundation Africa Growth Fund is an innovative $200 million USD initiative. It aims to drive economic growth and support African entrepreneurs. The Mastercard Foundation Africa Growth Fund is a joint effort. It was founded by the Mastercard Foundation, Mennonite Economic Development Associates, I&P, and ESP.Â
The Fund will introduce additional capital for African entrepreneurs, with a focus on investing in women-led businesses. The Fund will make this possible by strengthening and de-risking African investment vehicles that prioritize gender equity. The end goal is to create more opportunities for youth, especially young women.
The mission of the Mastercard Foundation Africa Growth Fund is To close the financing and support gap in the impact investing space in Africa. This will be achieved by elevating and diversifying the reach of African-owned and African-led Investment Vehicles that fund growth-oriented small- and medium-sized enterprises in sub-Saharan Africa, with the objective of creating employment opportunities for youth, particularly young women.
 Benefits of Mastercard Foundation Africa Growth FundÂ
- 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 Fund-of-Funds invests in African investment vehicles targeting small and medium enterprises (SMEs) and applies Gender Lens Investing (GLI) principles.
- It provides Business Development Services (BDS) support to investment funds and portfolio SMEs.
- It targets a major boost in decent jobs for women and youth.
Requirements for Mastercard Foundation Africa Growth FundÂ
- To be considered for the fund, you must be a small or medium enterprise (SME) owner in Africa.
How to Apply
Interested and qualified individuals who meet the above requirements are encouraged to apply here
For more details, visit Mastercard Foundation website
