MEDA, Capital Connect Africa, and the Mastercard Foundation Africa Growth Fund collaborate to support African SMEs
In order to increase investment in micro, small, and medium-sized businesses (MSMEs), which find it difficult to obtain the funding they need to develop, grow, and create jobs in Africa, the Mastercard Foundation Africa Growth Fund has collaborated with Capital Connect Africa (CCA).
With full support from the Mastercard Foundation, the new fund-of-funds is supporting African investment vehicles that assist growth-oriented, early-stage SMEs. It is headed by Mennonite Economic Development Associates (MEDA), who will work with CCA to promote MSMEs throughout Africa.
It assists MSMEs by providing capital-raising tools and customized advisory services, facilitating meaningful contacts with potential investors, and expediting their investor preparation and preparedness. This is a crucial step in removing the structural obstacles that African MSMEs—especially those run by women and young people—face when trying to obtain funding.
For MSMEs, the Capital Connect platform provides a comprehensive range of services and tools, such as a database of investors and additional investment tools, business plan evaluations, strategic counseling, and carefully matched finance alternatives.
The fund will move SMEs from its pipeline to the Capital Connect platform as a result of this partnership, greatly increasing the platform’s reach and bolstering its capacity to assist high-potential businesses.
“Our partnership with Capital Connect Africa is more than a financial alliance—it’s a bold alliance for catalysing Africa’s job creation engine,” said Dr Dorothy Nyambi, president and CEO at MEDA.
“By backing high-potential SMEs often overlooked by traditional investors, we’re fueling the kind of entrepreneurial growth that puts people to work. This is about turning investment into tangible impact – building businesses that hire locally, scale sustainably, build jobs, and spark inclusive prosperity across the continent.”
