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Sahel Capital, manager of the Social Enterprise Fund for Agriculture in Africa (SEFAA), has secured a $10 million commitment from the Mastercard Foundation Africa Growth Fund, which is administered by Mennonite Economic Development Associates (MEDA) in Mauritius.
The new funding will enable Sahel Capital to extend SEFAA’s reach by providing more financing to small and medium-sized agricultural enterprises that are commercially viable but often excluded from traditional lending channels.
Since SEFAA was launched in 2021 with initial support from KfW Development Bank, it has processed 33 financing facilities for 18 agribusinesses across seven countries in sub-Saharan Africa.
The fund offers debt, equity, and quasi-equity ranging from $300,000 to $2.4 million, complemented by technical assistance to strengthen operations.
Mezuo Nwuneli, Managing Partner of Sahel Capital, said the new backing reflects confidence in their work.
“This $10 million commitment from the Mastercard Foundation Africa Growth Fund, through MEDA Mauritius, affirms the impact our team is delivering across the agricultural sector,” he noted.
Dorothy Nyambi, President and CEO of MEDA, stated that the partnership underscores the shared goals of advancing inclusive finance and creating employment opportunities for women and youth.
She added that the collaboration will also strengthen the ecosystems needed for SMEs and MSMEs to grow sustainably.
The Mastercard Foundation Africa Growth Fund is a $200 million Fund-of-Funds initiative that supports gender-diverse, Africa-based fund managers.
It is part of the Foundation’s Young Africa Works strategy to expand economic opportunities across the continent.
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