2023 Mastercard Foundation Africa Growth Fund for African Business
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.
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The Mastercard Foundation Africa Growth Fund’s goal is to provide dignified and fulfilling work for young people, particularly young women.
The Fund of Funds is catalytic, helping to bring in additional capital for African entrepreneurs, particularly female entrepreneurs. It strengthens and de-risks African investment funds committed to advancing gender equity in entrepreneurship.
Requirements for 2023 Mastercard Foundation Africa Growth Fund for African Business:
To be considered for the fund, you must:
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.
Reward
- 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.
