The Mastercard Foundation Africa Growth Fund is a US $200 million fund of funds — that works through African Investment Vehicles (including venture capital funds, SME debt funds, permanent capital vehicles etc.) to support growth-oriented SMEs on the continent with the goal of enabling dignified and fulfilling work for young people, particularly young women.

The initiative will invest US $150 million in African Investment Vehicles (IVs) that are committed to advancing gender equity in entrepreneurship.

It will also invest US $50 million in business development services to de-risk and strengthen the Investment Vehicles and their portfolio of companies.

The Fund’s goals align with 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.