Applications are now open for the Mastercard Foundation Fund for Resilience and Prosperity Agribusiness Challenge for Small and Medium-sized Enterprises!
Apply to the Agribusiness Challenge Fund for Small and Medium-sized Enterprises (SMEs) across the agriculture, climate adaptation and digital economy sectors in 20 countries in Sub-Saharan Africa
Welcome to the Mastercard Foundation Fund for Resilience and Prosperity Agribusiness Challenge!
About the Mastercard Foundation Fund for Resilience and Prosperity Fund
The Mastercard Foundation Fund for Resilience and Prosperity is the second phase of a program from the Mastercard Foundation. The first phase was the Mastercard Foundation Fund for Rural Prosperity, an eight-year program established in 2014. That Fund supported 38 participants from 15 countries in Africa innovating and scaling financial products and services targeting the rural population with a large focus on agriculture. One major highlight is the Fund enabled over 5.3 million people to have access to financial products and services, exceeding an initial target of 1 million.
As a result of this success and learnings gathered, the Mastercard Foundation Fund for Resilience and Prosperity, a new, seven-year, US$ 126 million Fund was established in 2023. This Fund aims to support Small and Medium-sized Enterprises (SMEs) across the agriculture, climate adaptation and digital economy sectors in 20 countries in Sub-Saharan Africa. The main objective of the Fund is to unlock enterprise growth and catalyze, scale-up and sustain the creation of dignified and fulfilling work opportunities for young women and men.
Following the successful conclusion ofthe Mastercard Foundation Fund for Rural Prosperity and the impact and insights gained from it, a new fund has emerged.
The Mastercard Foundation Fund for Resilience and Prosperity is a seven-year, US$ 126 million Fund that aims to support Small and Medium-sized Enterprises (SMEs) across the agriculture, climate adaptation and digital economy sectors in 20 countries in Sub-Saharan Africa.
The main objective of the Fund is to unlock enterprise growth and catalyze, scale-up and sustain the creation of dignified and fulfilling work opportunities for young women and men, young people with disabilities and refugee youth.
Interventions
The Mastercard Foundation Fund for Resilience and Prosperity aims to address a broad spectrum of SME-specific challenges as well as macro issues using four interventions:
Challenge Fund
Offering direct financial support through a challenge fund to address the resource flow barriers faced by SMEs looking to scale-up and, in turn, create and sustain employment opportunities for young women and men.
Connect Fund
Providing investor readiness support to the SMEs and negotiation of partnerships with potential financiers to ensure sustainability and growth.
Technical Assistance (TA)
Adding value beyond financial support through technical assistance and capacity building to address the barriers concerning human capital and access to markets.
Thematic Sectors
The Fund will focus on SMEs that are implementing their solutions in 3 key sectors; agriculture, climate adaptation and digital economy.
Each of these will have competitions that SMEs can apply to for a chance to be selected as Fund participants.
News and Events
The Mastercard Foundation Fund for Resilience and Prosperity is at inception phase and has begun to engage global and African stakeholders in agriculture, climate adaptation and the digital economy with a view to understanding challenges and opportunities that can be taken into account with the Fund and its planned interventions.
Partners
The Mastercard Foundation is working with partners to implement this seven-year program. The Fund Manager for the Mastercard Foundation Fund for Resilience and Prosperity is KPMG Development Services Limited in partnership with Triple Line Consulting, the Monitoring, Evaluation and Learning Partner.
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