Who We Are

A Fund-of-Funds that is shaping the engagement of the African impact investing ecosystem

Our Mission: Bridging the Financing and Support Gap in African Impact Investing

At the Mastercard Foundation Africa Growth Fund, our mission is to address the financing and support gap within the African impact investing space. This objective is realized by expanding and diversifying the scope of African-owned and African-led Investment Vehicles that actively fund growth-oriented small- and medium-sized enterprises across the region.

This initiative plays a pivotal role in achieving our overarching goal of generating employment opportunities, especially for young women, aligning with MEDA's Strategic Plan to create or sustain decent work for half a million people in emerging economies and the Mastercard Foundation's Young Africa Work Strategy to empower 30 million young Africans to secure dignified and fulfilling employment.

Our Vision: Fostering Additional Employment Opportunities in Sub-Saharan Africa

Our vision encompasses the creation of additional work opportunities, particularly for young women, in sub-Saharan Africa. We aim to significantly contribute to shaping the dynamics of the African impact investing ecosystem, reinforcing our commitment to sustainable and inclusive economic growth.

Our Goal: Enabling Dignified and Fulfilling Work

We invest in African Investment Vehicles that support growth-oriented SME's. This enables SME's to grow at a faster rate and larger scale, accelerating the growth of dignified and fulfilling work opportunities for young people, particularly young women, on the continent.

Our Story

Funded by the Mastercard Foundation (the Foundation) and implemented by MEDA (Mennonite Economic Development Associates), the Mastercard Foundation Africa Growth Fund is helping to advance the 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.

Impact for the Mastercard Foundation Africa Growth Fund is multi-dimensional, focusing primarily on catalyzing sustainable job creation across Africa, with a particular emphasis on opportunities for youth and women.

Impact also encompasses strengthening the ecosystem for women-led investment vehicles, enhancing their capacity to drive gender equity and economic growth.

The Fund aims to achieve measurable impacts not only in terms of job numbers but also in the quality and longevity of these jobs, supported by an environment that nurtures continuous growth and innovation.

Additionally, the Fund seeks to shift the broader economic system towards greater inclusivity and sustainability, ensuring that investments today lay the groundwork for enduring benefits.

Our Team

The Fund is a collaborative initiative spearheaded by the Mastercard Foundation and a consortium of partners led by Mennonite Economic Development Associates (MEDA). MEDA serves as the decision-making body and holds the role of the Fund Manager, playing a central role in steering the strategic direction and operational aspects of The Fund.

We owe our success to our dynamic consortium of partner, each bringing a unique specialty and working collectively to achieve the impact we seek. contributing significantly to our impactful initiatives

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Samuel Akyianu

Managing Director

Olufemi Balogun

Director, Monitoring, Evaluation, Research and Learning (MERL)

Sara Orleans-Pobee

Director of Operations

Mugure Kamau

GDEI (Gender, Diversity Equity and Inclusion) Lead

Rita Odero

Director, Business Development Services (BDS)

Winnie Odhiambo

Director, Investment Programs and Innovation

Jen MacBruce

Senior Director, Investment Finance

Independent Oversight for Excellence

Governance committees operate independently, ensuring a robust and impartial decision-making process.

The Fund has a Foundation Council and Investment Committee which are distinct entities; each with its unique responsibilities.

The Investment Committee

At the core of strategic decision-making, the Investment Committee plays a pivotal role in the Mastercard Foundation Africa Growth Fund.

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The Foundation Council: Steering Investment Excellence

As the ultimate decision-making authority, the Council reviews and approves all investments independently, providing added scrutiny to uphold our commitment to excellence and impactful investments in Africa.