Mastercard Africa Growth Fund Invests $27 Million in African Investment Firms

The Mastercard Africa Growth Fund has announced substantial investments in three Africa-focused investment firms: Chui Ventures, VestedWorld, and SME Impact Fund. These investments are part of the foundation’s efforts to close the funding gap in the impact investing space across the continent.

According to the Africa News Agency, The investments amount to $9 million for Chui Ventures, $10 million for VestedWorld, and $8 million for SME Impact Fund. This brings the total number of funds supported by the Mastercard Africa Growth Fund to five, following previous investments in Aruwa Capital Management and Inua Capital.

Launched in December 2022, the Mastercard Africa Growth Fund is a $200 million initiative by the Mastercard Foundation, supported by various partners like Investors and Partners (IandP), ESPartners (ESP), Criterion Institute, Genesis Analysis, and Africa Communications Group. The fund aims to promote sustainable economic growth and social development across Africa.