The Mastercard Foundation Fund for Resilience and Prosperity is a seven-year, $126 million fund established in 2023 following the successful conclusion of the Mastercard Foundation Fund for Rural Prosperity (2014-2023). The predecessor fund supported 38 participant businesses from 15 African countries, enabling financial inclusion for over 5.3 million people and exceeding initial targets. The new Fund represents the second phase of the Mastercard Foundation’s Young Africa Works strategy, focusing on unlocking enterprise growth and catalysing dignified, fulfilling work opportunities for young women and men with limited financial means across Sub-Saharan Africa. The Fund is managed by KPMG Development Services Limited in partnership with Triple Line Consulting (Monitoring, Evaluation and Learning Partner). The Fund operates through four strategic interventions: Challenge Fund (direct financial support to selected SMEs), Connect Fund (investor-readiness support and partnerships with financiers), Technical Assistance (capacity building to address human capital and market access barriers), and Advocacy (convening stakeholders to encourage enabling business environments). The selected 20 focus countries represent the largest markets in Sub-Saharan Africa and collectively account for over 80% of the region’s economy. The Fund aims to support an innovative SME portfolio, including women-led SMEs with high-impact potential for creating and sustaining work opportunities.
Funding Amount
Grants ranging from $500,000 to $2,500,000 per selected SME, disbursed over a three-year period based on the applicant’s development stage, scalability, and business model in accordance with agreed periodic milestone targets. Funding structure is determined on a case-by-case basis after evaluating proposals and organisations. Selected participants are expected to provide a matching contribution of at least 30% of the total project cost (in cash, cash-equivalent, or in-kind). Applications must provide a contribution to total project costs that is at least equal to the grant amount. Additional tailored technical assistance will be provided to successful applicants in alignment with Fund objectives over the three-year period at no additional cost. Total programme budget: $126 million over seven years, supporting multiple sector-specific challenge funds.
Target
Small and Medium-sized Enterprises (SMEs) operating innovative and commercially viable agribusinesses across Sub-Saharan Africa. Must be enterprises with moderate to high growth potential and the ability to absorb and utilise funding properly. Target SMEs should create work opportunities at scale for young women and men with limited financial means, including young people with disabilities and refugee youth. Particular focus on young women.
Focus Areas
Innovative, commercially viable agribusinesses are creating dignified, fulfilling employment opportunities for youth. Eligible activities include agricultural production and processing; agri-tech and digital agriculture solutions; agricultural value chain development; food security and nutrition initiatives; smallholder farmer support systems; agricultural input supply; agricultural financing and market linkages; sustainable farming practices; agricultural mechanisation; post-harvest management and storage; food processing and value addition; agricultural trade and distribution; livestock production; aquaculture and fisheries; horticulture and crop production.
Eligibility Criteria
- SMEs must be legally registered and operational for at least three years. Must provide at least one annual financial statement.
- Must have a viable business plan and financial plan demonstrating a clear growth strategy.
- Projects must be implemented in at least one of 20 focus countries: Kenya, Benin, Burundi, Botswana, Cameroon, Côte d’Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Malawi, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Uganda, and Zambia.
- Must be requesting grant funding between $500,000 and $2,500,000.
- Must provide a matching contribution of a minimum of 30% of the total project cost.
- Applications accepted in English, French, and Portuguese to accommodate Anglophone, Francophone, and Lusophone countries.
- Must demonstrate an innovative, practical, and scalable business model aimed at creating work opportunities for young women and men with limited financial means, including refugees and those living with disabilities.
- Existing Mastercard Foundation partners are eligible only if applying for a different project from one directly supported by Mastercard Foundation.
Selection criteria include:
- strategic fit with Fund objectives; innovation and scalability of business model
- Impact potential on youth employment creation (quantity and quality of jobs); commercial viability and financial sustainability
- Organisational capacity and management team strength; environmental and social impact compliance
- Value for money and cost-effectiveness
- Gender considerations and women’s empowerment.
- Multi-stage selection process including application review, due diligence, and contract negotiation.
