MasterCard Foundation Africa Growth Fund expands investment portfolio

NAIROBI, Kenya, Dec 5 – The MasterCard Foundation Africa Growth Fund (the Fund) has expanded its investment portfolio with three new investment vehicles (IVs).

They include Chui Ventures, VestedWorld, and the SME Impact Fund.

The IVs will receive $9 million, $10 million, and $8 million, respectively, from the fund.

“We are excited to welcome Chui Ventures, Vested World, and SME Impact Fund to our expanding family of investment vehicles,” said MasterCard Foundation Africa Growth Fund Managing Director Samuel Akyianu.

According to MasterCard, African-owned funds are perceived as risky, a factor that limits their ability to secure financing to scale.

Through the fund, it says, the IVs will lower such risks and serve to drive continental economic transformation.

The Africa Growth Fund is an initiative of the MasterCard Foundation, managed and implemented by Mennonite Economic Development Associates (MEDA) along with a strategic consortium of partners.

The consortium is composed of key entities, each playing a unique and crucial role in the success of the fund.

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