With a $200 million pledge, the Mastercard Foundation has established the Africa Growth Fund to assist the continent’s early-stage, growth-oriented SMEs.
The Fund-of-Funds seeks to further the Mastercard Foundation’s Young Africa Works initiative, which aims to provide access to dignified and satisfying employment for 30 million young people in Africa by 2030, by enabling young people, particularly young women, to engage in meaningful work.
Additionally, the Fund will provide a business development facility for its portfolio firms in order to do this, and it has already secured the services of two investment vehicles to promote the development of businesses in East and West Africa.
