15 April 2025, Nairobi, Kenya
The Mastercard Foundation Africa Growth Fund (The Fund) partners with Capital Connect Africa (CCA) to boost investment in Micro, Small, and Medium Enterprises (MSMEs). These emerging businesses struggle to get the necessary financing to grow, expand, and create jobs in Africa.
The Fund is a fund-of-funds backing African investment vehicles (IVs) that support early-stage, growth-oriented SMEs. It is fully supported by the Mastercard Foundation and led by the Mennonite Economic Development Associates (MEDA) to collaborate with CCA to support MSMEs across Africa.
The Fund cultivates the investment ecosystem by uniting MSMEs and Capital Connect Africa. This collaboration helps MSMEs by accelerating their investor readiness and preparedness, offering capital-raising tools and tailored advisory services, and delivering meaningful connections with potential investors. This is a key step in breaking down the systemic barriers that African MSMEs face in accessing capital, particularly women-led and youth-led businesses.
The partnership aligns with MEDA’s mission to create business solutions to fight poverty through investment that is both gender- and climate-responsive. CCA contributes its robust investor matchmaking platform, digital capital raising tools, and a wide-reaching network of capital providers across the continent.
The Capital Connect platform offers a full suite of tools and services for MSMEs, including a database of investors and other investment tools, business plan reviews, strategic guidance, and curated matchmaking with aligned funding opportunities. Its digital capital-raising marketplace supports capital-raising efforts by providing tools such as:
- Investment readiness determination
- Impact story documentation
- Pitch deck creation
- Access to a network of African investors
- Live advisory sessions
- Data analytics and insights
Through this collaboration, the Fund will bring SMEs from its pipeline to the Capital Connect platform, significantly expanding the platform’s reach and enhancing its ability to support high-potential businesses.
“Our partnership with Capital Connect Africa is more than a financial alliance – it’s a bold alliance for catalyzing Africa’s job creation engine, said Dr. Dorothy Nyambi, President & CEO at MEDA. “By backing high-potential SMEs often overlooked by traditional investors, we’re fueling the kind of entrepreneurial growth that puts people to work. This is about turning investment into tangible impact – building businesses that hire locally, scale sustainably, build jobs, and spark inclusive prosperity across the continent.’’
“Capital Connect Africa is committed to equipping African SMEs with the tools, support, and investor access they need to succeed, adds Francis Nasyomba, Founder of Capital Connect Africa. “Our collaboration with MEDA will help us reach more businesses, particularly those with inclusive growth potential, and accelerate economic transformation across Africa.”
The new partnership is a significant milestone in The Fund’s efforts to catalyse inclusive economic growth by bolstering the investment ecosystem for African SMEs and promoting job creation, with a particular focus on increasing dignified and fulfilling work for women and youth.
To sign up, visit the Capital Connect website
About the Mastercard Foundation
The Mastercard Foundation is a Canadian foundation and one of the largest in the world, with approximately $40 billion in assets. The Foundation was created in 2006 through the generosity of Mastercard when it became a public company. Since its inception, the Foundation has operated independently of the company. The Foundation’s policies, operations, and program decisions are determined by its Board. For more information on the Foundation, please visit: www.mastercardfdn.org
About Mennonite Economic Development Associates (MEDA)
MEDA is an international economic development organization that creates business solutions to poverty. For 70 years, it has worked with local partners to support market-driven development and deploy impact investing. Leveraging its capital and technical know-how, MEDA partners to support entrepreneurs to create value in businesses through access to finance, market linkages, and new capabilities. Its goal is to create or sustain 500,000 decent jobs by 2030 – allowing women and youth to take care of their needs and build resilient communities.
About Capital Connect Africa
Captial Connect Africa is an African digital capital-raising platform connecting businesses to capital with expert advice, powerful capital-raising tools, and actionable insights to streamline SMEs’ fundraising journey. The platform is currently serving over 400 businesses and over 70 investors across 8 different countries in Africa.
Investors get a curated pipeline of pre-screened businesses seeking funding. Investors also have a high-quality deal flow, preventing sifting through unverified opportunities.
Capital Connect provides the essential resources needed to successfully navigate the capital-raising journey.
