Mastercard Foundation Fund for Resilience and Prosperity Agribusiness Challenge Fund for SMEs across Africa 2024

Introducing the Mastercard Foundation Fund for Resilience and Prosperity, the latest initiative following the successful Mastercard Foundation Fund for Rural Prosperity. The previous program supported 38 participants across 15 African countries, focusing on financial products and services for rural areas, particularly in agriculture. With over 5.3 million people gaining access to financial services, surpassing the initial goal of 1 million, the Fund made a significant impact. Building on this achievement, the new Fund, established in 2023 with a budget of US$126 million, aims to bolster Small and Medium-sized Enterprises (SMEs) in agriculture, climate adaptation, and digital economy sectors in 20 Sub-Saharan African countries.

The Mastercard Foundation Fund for Resilience and Prosperity’s primary goal is to foster enterprise growth and create sustainable job opportunities for young individuals, with a focus on empowering women and men. Through various interventions such as the Challenge Fund, Connect Fund, Technical Assistance, and Convening and Influencing, the Fund seeks to address challenges faced by SMEs and drive systematic change. The Fund’s requirements emphasize innovation, commercial viability, and the creation of dignified work opportunities for young women and men, including those with disabilities or refugee backgrounds. The selection process will be based on specific criteria outlined for each challenge, with the application deadline set for November 22, 2024. To apply or learn more about this exciting opportunity, visit the Mastercard Foundation website at frp.org. Join us in shaping a prosperous and resilient future for Sub-Saharan Africa!