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Africa Growth Fund
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Who We Are

A Fund-of-Funds 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.

 

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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.

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Our Story

The Fund is a collaborative initiative led by the Mastercard Foundation and a consortium of partners spearheaded 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.

Collaborative Expertise

In our journey toward impactful and sustainable investment, we are proud to collaborate with a distinguished group of partners, each contributing unique expertise to the Mastercard Foundation Africa Growth Fund.

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Our Team

Samuel Akyianu

Samuel Akyianu

Managing Director
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Olufemi Balogun

Olufemi Balogun

MERL Specialist
Melissa Mensah

Melissa Morgan

Program Specialist
Mugure Kamau, Gender, Diversity, Equity and Inclusion Specialist

Mugure Kamau

GDEI (Gender, Diversity Equity and Inclusion) Specialist
Rita Odero

Rita Odero

Director, Business Development Services (BDS)
A picture of Winnie Odhiambo

Winnie Odhiambo

Director, Investment Programs and Innovation

Ekua Biney

Administrative Officer

 

Independent Oversight for Excellence

Each committee operates independently, ensuring a robust and impartial decision-making process. 

The Foundation Council and Investment Committee are distinct entities, each with its unique responsibilities. The Foundation Council, as the ultimate decision-making authority, reviews and approves final investment decisions independently, providing an added layer of scrutiny to uphold our commitment to excellence and impactful investments in Africa.

The Investment Committee: Dedicated and Diligent Screening

Tasked with evaluating Investment Vehicles presented by The Fund advisor, the Committee relies on comprehensive due diligence findings and ensures alignment with The Fund's strategy and Investment Policy. 

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The Foundation Council: Steering Investment Excellence

Our esteemed Foundation Council are the decision-makers of The Fund. Empowered with the authority to make final investment decisions, they meticulously review deals approved by the Investment Committee.

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