$150 Million set aside from being Financed by Kuramo Capital Management in sponsoring Female-Led Businesses in Africa 10 Years
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- …the Moremi Platform – an ambition to license the successive generation of African women businesses and stimulate gender-equitable fund management, Kuramo Capital Management which is an investment management firm; with a priority on Sub-Saharan Africa schedules to invest in Africa women.
The Moremi platform is a three-pillar initiative referring to an accelerator program, a warehousing/lending facility, and a Fund of funds. The establishment has revealed the first compatriot of the accelerator program, which serves as a mentorship, capacity building building, and technical assistance platform, targeting 40 female entrepreneurs and fund managers yearly.
According to Kuramo CEO and Founder Wale Adeosun, the program will handle the enormous budget and knowledge intermission for women in business, a major improvement to the inclusive, sustainable economic and social development of nations in Africa.
This comprises the sharpening the skills of women fund managers who will in turn help promote women-driven enterprises.
“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,” he explains.
The accelerator offers a structured curriculum for capacity building, technical assistance, and mentoring for women in business, addressing the knowledge gap, particularly for female fund managers in Africa.
“The Accelerator Program is being launched at such a critical time in Africa’s investing story and we are excited by the traction. Despite an increased flow of capital to Africa, women have still been 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,” says Sarah Ngamau,
Managing Director, of Moremi Fund.
The World Economic Forum has recognized Sub-Saharan Africa as having the world’s spaced-out rate of women involved in entrepreneurial activity, with women making up 58% of Africa’s self-employed population. Building on this strong foundation, Africa needs schemes that prioritize gender-smart investment practices.
“At Kuramo Capital and Kuramo Foundation for Sustainable Development, we firmly believe the fastest way to unlock capital for female entrepreneurs and gender-smart businesses at scale is to invest in female-led and gender-diverse fund managers. We are delighted to promote inclusive economic empowerment of female-led funds in Pan Africa,” lets out Sarah.
Kuramo was founded in 2011 and has since marshaled over $3.5 billion (Ksh 73.8 billion) to subsidize over 200 companies and create over 50,000 jobs in Africa. The corporation concentrates on building long-term capital value to facilitate the sustainable evolution of enterprises across diverse sectors of the economy. The Moremi Accelerator Program is an integral part of the firm’s concept to catalyze gender-equitable capital growth required to power Africa’s socio-economic transformation, says Shaka Kariuki, Co-CEO & Chief Investment Officer, of Kuramo Capital.
“Kuramo’s strategy leverages iits 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 lets out.
He sums up, “We remain dedicated to our mission of fostering the growth of funds that will in turn generate value and provide risk-adjusted returns to investors. Simultaneously, we are committed to empowering the communities in which we operate with sustainable solutions.”
Shaka’s perspectives on the accelerator program as an instance of Kuramins assistance in positioning Africa as an attractive destination tired into Africa, there were very few investors deploying capital to African Fund managers on the continent.
“However, since Kuramo’s arrival, we have been able to anchor and fund more than 15 funds across Sub-Saharan Africa which has helped to mitigate some of the fears associated with investing on the continent. With the Moremi Accelerator Program, we will be addressing challenges facing African female entrepreneurs and fund managers owing to such perceptions.”
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent