The Social Enterprise Fund for Agriculture in Africa (SEFAA), managed by Sahel Capital, has secured a $10 million investment from the Mastercard Foundation Africa Growth Fund, managed by MEDA (Mennonite Economic Development Associates) in Mauritius. This funding will enable SEFAA to expand support for small and medium-sized agribusinesses (agri-SMEs) across 13 sub-Saharan African countries, creating approximately 10,000 jobs. Agri-SMEs, often excluded from traditional financing, play a crucial role in empowering smallholder farmers and generating income opportunities for women and youth. Since its inception in 2021, SEFAA has processed 33 facilities for 18 companies in seven sub-Saharan African nations, demonstrating its growing impact in the region.
Mezuo Nwuneli, managing partner of Sahel Capital, emphasized that the $10 million commitment will accelerate the fund’s efforts to enhance income opportunities for smallholder farmers by supporting the agri-SMEs that engage with them. He highlighted SEFAA’s strategic role as a leading fund in Africa’s food and agriculture sector, providing much-needed financing and technical assistance to early-stage and growth-oriented agribusinesses.
Dorothy Nyambi, president and CEO of MEDA, noted that the partnership aligns closely with MEDA’s mission to advance economic opportunity through inclusive finance. She stated that the collaboration, supported by the Mastercard Foundation Africa Growth Fund, will help catalyze job creation for women and youth while strengthening the ecosystems needed for SMEs and MSMEs to thrive sustainably. Launched in 2021 with initial capital from KfW Development Bank, SEFAA offers flexible financing, including debt, equity, or quasi-equity, alongside technical support to ensure long-term sustainability of the agribusinesses it serves.
Related Posts
