With a committed $200 million (USD), the Mastercard Foundation Africa Growth Fund (MFAGF) employs a visionary Fund of Funds model through African Investment Vehicles to boost early-stage, growth-oriented SMEs across Africa. The main aim is to create valuable employment opportunities, especially for young women.
The MFAGF serves as a catalyst, mitigating risks for investment vehicles dedicated to promoting gender equality in entrepreneurship.
The MFAGF not only provides capital for fund managers but also offers a business development facility for portfolio companies. Aligned with gender-lens investing (GLI) principles, it supports the Mastercard Foundation’s Young Africa Works strategy, targeting 30 million youth, especially young women, with meaningful employment by 2030.
Currently backed by two investment vehicles in East and West Africa, Investisseurs et Partenaires (I&P) serves as the fund advisor for MFAGF.
About Mastercard Foundation
The Mastercard Foundation seeks a world where everyone has the opportunity to learn and prosper. All people, no matter where their starting point in life, should have an equal chance to succeed. We believe that with access to education, financial services, and skills training, people can have that chance.
Our focus is helping economically disadvantaged young people in Africa to find opportunities to move themselves, their families, and their communities out of poverty to a better life.
Benefits of Mastercard Foundation Africa Growth Fund
The Mastercard Foundation Africa Growth Fund seeks to provide young people, especially young women, with access to respectable and worthwhile employment.
The Fund-of-Funds acts as a catalyst by enhancing and reducing the risk associated with African Investment Vehicles that are dedicated to advancing gender equity in entrepreneurship.
Requirements for Mastercard Foundation Africa Growth Fund
The primary objectives of MFAGF are twofold: supporting more women-led funds, which currently dominate the pipeline, and facilitating patient capital infusion into diverse investment vehicles.
Guided by frameworks developed by The Criterion Institute, MFAGF aids investment vehicles in adopting a robust gender perspective in their investment decisions. Beyond funding, the initiative offers technical and qualitative assistance, including HR regulations and best practices for corporate governance within the funds and their portfolio companies.
Notably, the Africa Growth Fund does not directly invest in SMEs. It channels capital to selected Investment Vehicles, which then allocate funds to qualifying businesses. If you’re involved in fund management and wish to participate, we encourage you to explore our offerings and submit an application.
ALSO READ: Kaduna State ICT Scholarship at Mewar University 2023 – KNUST News and Updates (nyansapormedia.com)
Application Deadline
Not Specified
How to Apply
click HERE For more details
I believe The Daily Legonite has been of help to you with regards to your subject of concern.
Also, there are many other articles we have put up to help you in your education and career.
If there is any contribution, comment and concerns that you would want to make, it is warmly welcome on our site. Thank you very much!
