Kuramo Capital Management, an investment management firm that focuses on Sub-Saharan Africa (SSA), recently announced their commitment to invest $150 million in enterprises led by women over the next decade.
This investment is part of their Moremi Platform, a strategic initiative that seeks to empower the upcoming generation of African women entrepreneurs and advancing gender-equitable fund management.
Moreover, the Moremi platform consists of three key components: an accelerator program, a warehousing/lending facility, and a Fund of funds.
The first cohort of the accelerator program not only offers mentorship but also provides opportunities for capacity building and technical support.
This program aims to benefit 40 female entrepreneurs and fund managers annually.
According to Wale Adeosun, the CEO and Founder of Kuramo, the program will specifically target the significant funding and knowledge disparities that women encounter in the business world.
These disparities represent a substantial obstacle to achieving inclusive and sustainable economic and social development in African countries.
Objectives of Kuramo investment
One of the program’s key objectives is to enhance the expertise and capabilities of female fund managers.
By doing so, it aims to foster the expansion of enterprises led by women, thereby contributing to their growth and success.
“We believe that, just as we were able to address gaps with African GPs (fund managers) in the past, we can achieve a similarly catalytic impact with our gender lens initiative,” Wale stated.
The accelerator program provides a learning plan to help women in business, while offering guidance, support, and mentorship to address the lack of knowledge, especially among female fund managers in Africa.
“The Accelerator Program is comes at such a critical time in Africa’s investing story and we are excited by the traction.
“Despite high flow of capital to Africa, women are still underrepresented at all levels of the investment landscape.
“Our goal is to address this barrier and improve the ecosystem by supporting female-led African private equity and venture capital funds,” said Sarah Ngamau, Moremi Fund Managing Director, .
Promoting Economic Growth and Gender Equality
The World Economic Forum, in its findings, has pointed out that Sub-Saharan Africa boasts the highest rate of women in entrepreneurial activities globally, with women constituting 58 percent of the region’s self-employed population.
In light of this strong foundation, Africa requires strategies that prioritise investment practices geared toward promoting gender equality.
Sarah, representing Kuramo Capital and Kuramo Foundation for Sustainable Development, emphasised their firm belief in the most efficient way to mobilise capital for female entrepreneurs and gender-smart businesses on a large scale.
“We are very delighted to promote inclusive economic empowerment of female-led funds in Pan-Africa,” Sarah stated.
About the company
Kuramo Capital started in 2011 and has raised more than $3.5 billion to support over 200 companies, leading to the creation of over 50,000 jobs in Africa.
The company’s main focus is on helping businesses grow and create lasting long term value.
According to Shaka Kariuki, who is the Co-CEO & Chief Investment Officer at Kuramo Capital, the Moremi Accelerator Program is a crucial part of the company’s vision.
It aims to stimulate fair access to capital, which is essential for driving Africa’s social and economic development.
“Kuramo’s strategy leverages its presence in Africa to drive value and achieve long-term, sustainable capital growth.
“The launch of this accelerator program confirms our commitment to expanding our value across Africa as a continent,” he said.
Shaka further mentioned that their focus is on helping funds grow and provide good returns to investors while managing risks.
He also stressed the company’s commitment to providing long-lasting solutions to the communities where they work.