About This Fund
The Mastercard Foundation Africa Growth Fund is a $200 million Fund-of-Funds initiative that supports African-owned and African-led investment vehicles. These vehicles finance early-stage and growth-oriented small and medium-sized enterprises (SMEs) with the aim of fostering inclusive economic development across sub-Saharan Africa.
The Fund is deeply focused on enabling dignified and fulfilling work opportunities for young people, especially young women. It accomplishes this by de-risking and strengthening impact investment vehicles that are committed to gender equity and social inclusion.
Since its launch in 2022, the Fund has backed 18 investment vehicles operating in 12 African countries, facilitating financing for 49 SMEs and creating more than 2,500 full-time jobs—over 1,100 of which are held by women.
Through this structure, the Fund not only boosts access to capital for underrepresented entrepreneurs but also builds the long-term capacity of Africa’s investment ecosystem.