Mastercard Foundation Fund for Resilience and Prosperity is a US$ 126 million Fund that aims to support Small and Medium sized Enterprises across agriculture, climate adaptation and digital economy sectors in 20 countries in Sub-Saharan Africa.
What mechanisms/interventions is the Fund utilizing to support SMEs and scale-up the creation of dignified and fulfilling jobs for young women and men? There is a perceived risk of lending to SMEs in SSA driven by the lack of certainty on the sustainability of investment, weak policies, institutions and regulatory frameworks and the technical capacity gaps. As a result, capital flows from the private sector in emerging markets are characterized by high borrowing costs and stringent collateral requirements.
The Mastercard Foundation Fund for Resilience and Prosperity, through the Challenge Fund intervention will offer direct financial support to address the resource flow barriers faced by SMEs looking to scale-up and, in turn, create and sustain employment opportunities for young people. .