Mastercard Foundation Launches $126M Fund for Resilience and Prosperity in Sub-Saharan Africa, Aiming to Boost SMEs in Key Sectors

The Mastercard Foundation announces the establishment of the Fund for Resilience and Prosperity, a groundbreaking initiative aimed at supporting Small and Medium-sized Enterprises (SMEs) in Sub-Saharan Africa.

Building on the success of its previous program, the Foundation seeks to empower SMEs operating in key sectors such as agriculture, climate adaptation, and the digital economy.

Driving Systemic Change: Objectives of the Fund

The primary objective of the Fund for Resilience and Prosperity is to unlock enterprise growth and facilitate the creation of sustainable employment opportunities for young women, men, individuals with disabilities, and refugee youth.

Through targeted interventions, the Foundation aims to catalyze, scale-up, and sustain the growth of SMEs, fostering economic resilience and prosperity in the region.

Innovative Interventions: Strategies for Empowering SMEs

The Fund for Resilience and Prosperity will deploy four key interventions to address SME-specific challenges and macroeconomic issues.

These interventions include the Challenge Fund, offering direct financial support to SMEs; the Connect Fund, providing investor readiness support and facilitating partnerships with financiers; Technical Assistance (TA), delivering capacity building and market access support; and Convening and influencing, fostering an enabling business environment through stakeholder engagement and digital platforms.

Sectoral Focus: Prioritizing Agriculture, Climate Adaptation, and Digital Economy

With a thematic focus on agriculture, climate adaptation, and the digital economy, the Fund will support SMEs implementing innovative solutions in these critical sectors.

By prioritizing investment in areas essential for sustainable development, the Foundation aims to drive transformative change and address pressing socio-economic challenges in Sub-Saharan Africa.

Call to Action: Opportunities for Engagement

As the Fund for Resilience and Prosperity rolls out its initiatives, stakeholders are encouraged to engage and participate in driving positive change.

Interested parties can learn more about the Fund and access application portals through dedicated online platforms, demonstrating the Foundation’s commitment to transparency and collaboration in advancing economic resilience and prosperity across the region.