The Mastercard Foundation Africa Growth Fund has partnered Capital Connect Africa (CCA) to boost investment in micro, small, and medium enterprises (MSMEs), which struggle to get the necessary financing to grow, expand, and create jobs in Africa.
The new fund-of-funds is backing African investment vehicles that support early-stage, growth-oriented SMEs, and 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.
It 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 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.
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 catalysing Africa’s job creation engine,” said Dr Dorothy Nyambi, president and 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.”
