Africa Growth Fund

Apply to the Fund

The primary challenge addressed by the Mastercard Foundation Africa Growth Fund is the lack of patient capital and business development services available to African-owned and African-led Investment Vehicles. Our mandate is to minimize investment risk by providing much-needed access to financial and business development services to Investment Vehicles and SMEs they support. By closing the funding and knowledge gap, we can support the growth of SMEs on the African continent and catalyze job creation for young African women and men.

The Fund will consider Investment Vehicles that meet the following criteria:
 

  • The majority of the investment team is based in sub-Saharan Africa, including at least one partner or C-suite member is based on the continent and who is part of the decision-making process.
  • Invest in sub-Saharan SMEs with a ticket size of between US $50,000 to US $4 million.
  • Invest in a diversity of sectors including manufacturing, agribusiness, education, health, technology, and tourism and hospitality.

  • Include an impact focus in the investment strategy defined as solving a key gap in the investment ecosystem, which enables the vehicle to achieve additional job creation and generate additional income opportunities in the value chains of its portfolio companies, including for women and young people and especially young women.

  • Demonstrate financial viability by attracting other forms of capital, including private capital.

Apply to the Fund

Learn More