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Mastercard Foundation 2023 Africa Growth Fund for Early-stage African small and medium-sized enterprises (SMEs)

The Mastercard Foundation Africa Growth Fund is a bold initiative—a USD$200 million Fund of Funds—that works through African investment funds to support early-stage, growth-oriented small and medium-sized enterprises (SMEs) on the continent.

The Mastercard Foundation Africa Growth Fund’s goal is to provide dignified and fulfilling work for young people, particularly young women.

The Fund of Funds is catalytic, helping to bring in additional capital for African entrepreneurs, particularly female entrepreneurs. It strengthens and de-risks African investment funds committed to advancing gender equity in entrepreneurship.

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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.... read more


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Mastercard Foundation Africa Growth Fund


Aim and Benefits of Mastercard Foundation Africa Growth Fund

The initiative catalyzes and accelerates the growth of small and medium-sized enterprises (SMEs) across Africa, with the goal of creating work opportunities for young people – particularly young women – and building long-term economic resilience on the continent. 


Requirements for Mastercard Foundation Africa Growth Fund Qualification

Funds that are owned and led by African entrepreneurs and located on the African continent are often considered high-risk. At the same time, African SMEs struggle to access the financing they need to scale, inhibiting their potential to drive economic growth and employment on the continent.

The Mastercard Foundation Africa Growth Fund tackles both challenges by investing in and strengthening African investment funds. This approach, in turn, supports African SMEs.


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Application Deadline

Not Specified


How to Apply

Interested and qualified? Go to Mastercard Foundation on www.surveymonkey.com to apply

For more details, visit Mastercard Foundation website


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