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Investing for Impact: Lessons from the Mastercard Foundation Africa Growth Fund

We’re excited to share Book One of our Learning Series — Moving Capital to Investment Vehicles. This is the first in a four-part collection that captures what we’re learning as we build a new kind of fund in Africa.

Three years ago, the Mastercard Foundation Africa Growth Fund set out with an ambitious goal: to move capital differently, intentionally shifting power and fostering a more inclusive investment ecosystem that can drive job creation for young people and women across Africa.

This book brings together critical insights from this journey so far. It looks at how we’ve designed and executed a fund-of-funds model that channels capital to African-owned and African-led investment vehicles — with a strong focus on gender, local expertise, and tackling the systemic barriers that often hold back small and growing businesses.

Whether you’re an investor, fund manager, development practitioner, or simply curious about how to move capital with purpose, we hope these insights spark new ideas and deeper conversations.

Download Book One today and join us as we continue to learn, adapt, and drive impact across the continent.

Author

  • The Mastercard Foundation Africa Growth Fund is a $200 million Fund of Funds shifting who gets to invest, and who gets invested in, across Africa. We back African-owned and African-led investment vehicles through two levers: catalytic capital that strengthens their ability to invest, and strategic business development support that helps them and their portfolio businesses grow with confidence.