The investment management company Kuramo Capital Management, which focuses on Sub-Saharan Africa (SSA), has announced that it will spend $150 million (Ksh. 22 billion) over the next 10 years to help female-led businesses across Africa.
The company’s Moremi Platform will invest. The Moremi Platform is an effort to support gender-equal fund management and give power to the next generation of African women entrepreneurs.
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Moremi triple-pillar accelerator
There are three main parts to the Moremi platform: an accelerator programme, a storage and lending service, and a Fund of funds.
The company announced the first group of participants in the accelerator programme. The programme aims to help 40 female fund managers and entrepreneurs annually by providing guidance, building skills, and technical support.
Wale Adeosun, CEO and founder of Kuramo says that the programme will help close the vast funding and knowledge gap for women in business, a big problem for Africa’s economic and social growth that benefits everyone. One way to do this is to help women fund managers improve their jobs. These managers will then help women-run businesses grow.
“We think that, just like we were able to close gaps with African GPs (fund managers) before, our gender lens initiative can have the same big effect,” he says.
The accelerator programme addresses the knowledge gap for African female fund managers by providing capacity building, technical help, and mentoring for women in business.
The Accelerator Programme is introduced at a crucial point in Africa’s investing story, and we’re excited by the traction. Despite growing financial flow to Africa, women remain underrepresented at all investment levels. By financing female-led African private equity and venture capital funds, Moremi Fund Managing Director Sarah Ngamau hopes to overcome this barrier and improve the ecosystem.
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Sub-Saharan Africa has the most remarkable rate of women entrepreneurs, with 58% of self-employed people being women, according to the World Economic Forum. Africa needs gender-smart investment policies to build on this solid base.
Kuramo Capital and Kuramo Foundation for Sustainable Development think that investing in female-led and gender-diverse fund managers is the fastest approach to scale capital for female entrepreneurs and gender-smart enterprises. “We are thrilled to promote inclusive economic empowerment of female-led funds in Pan-Africa,” says Sarah.
Since 2011, Kuramo has raised approximately $3.5 billion (Ksh 73.8 billion) to help 200 African firms and create 50,000 employees.
The firm creates long-term capital value to help businesses across industries develop sustainably. Shaka Kariuki, Kuramo Capital Co-CEO & Chief Investment Officer, believes the Moremi Accelerator Programme is essential to the firm’s mission to accelerate gender-equitable capital growth for Africa’s socio-economic transformation.
Kuramo uses Africa to create value and sustain capital growth. This accelerator programme shows our commitment to growing our value across Africa, he said.
He said, “We remain committed to fostering the growth of funds that will generate value and provide risk-adjusted returns to investors. Additionally, we empower our communities with sustainable solutions.”
The accelerator programme is one-way Kuramo promotes Africa as an investment destination, according to Shaka. Few investors invested in African Fund managers before Kuramo entered the market.
Since Kuramo’s arrival, we’ve anchored and funded more than 15 Sub-Saharan Africa funds, easing investors’ concerns. The Moremi Accelerator Programme will address stereotypes that hinder African female entrepreneurs and fund managers.
