A new partnership between the Mastercard Foundation Africa Growth Fund and Capital Connect Africa (CCA) is aiming to tackle one of the biggest challenges faced by African micro, small, and medium enterprises (MSMEs): access to financing.
MSMEs are often the backbone of economies across the continent, but many struggle to find the capital they need to grow, scale, and create jobs.
This collaboration is designed to address those challenges by offering practical tools, funding access, and investment readiness support.
The Mastercard Foundation Africa Growth Fund is a fund-of-funds initiative focused on supporting African investment vehicles that finance early-stage and growth-focused SMEs.
The initiative is fully backed by the Mastercard Foundation and is managed by the Mennonite Economic Development Associates (MEDA), which will work closely with CCA to reach more MSMEs throughout Africa.
As part of the initiative, MSMEs will benefit from services that help improve their investor readiness.
This includes capital-raising resources, personalized advisory support, and direct links to potential investors.
Special focus is being given to women-led and youth-led businesses, which often face extra hurdles in securing funding.
CCA’s platform will play a central role in this initiative. It provides a comprehensive set of tools and services, including a rich database of investors, business plan assessments, strategic business advice, and tailored matchmaking with relevant funding opportunities.
The partnership will also see the Mastercard Foundation Africa Growth Fund introducing businesses from its portfolio to the CCA platform, significantly widening the platform’s impact and helping more high-potential enterprises access support and capital.
Speaking about the partnership, Dr. Dorothy Nyambi, president and CEO of MEDA, highlighted the broader goal of the collaboration.
“This partnership isn’t just about funding – it’s about creating real opportunities,” she said.
“We’re supporting businesses that hire locally, grow sustainably, and bring inclusive prosperity to communities across Africa.”
By bridging the gap between MSMEs and capital, the initiative hopes to strengthen Africa’s entrepreneurship ecosystem and unlock a new wave of economic growth across the continent.
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