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Mastercard Foundation Africa Growth Fund 2023 for Early-stage African small and medium-sized enterprises (SMEs)

Mastercard Foundation Africa Growth Fund 2023 for Early-stage African small and medium-sized enterprises (SMEs). Apply below.

When is Application Deadline?

Not specified

Tell Me About Award:

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.

Goal

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.

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.

What Countries are Eligible?

African countries

Who is Eligible?

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.

How many Awards?

Not specified

What is Value of Award?

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. 

How to Apply?

Apply here

GOODLUCK!

Visit Application Webpage for Details

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