Kuramo Commits $150 Million to Empower Female-Led Startups in Sub-Saharan Africa

Kuramo Commits $150 Million to Empower Female-Led Startups in Sub-Saharan Africa

Kuramo Capital Management, an investment firm focused on Sub-Saharan Africa has revealed plans to invest $150 million (Ksh. 22 billion) in supporting female-led startups across Africa over the next 10 years.

The investment will be done under the firm’s Moremi Platform, in a three-pillar initiative involving an accelerator program, a warehousing/lending facility and a Fund of funds.

The firm has unveiled the first cohort of the accelerator program, which also serves as a mentorship, capacity building and technical assistance platform, targeting 40 female entrepreneurs and fund managers annually.

Kuramo CEO Wale Adeosun said the program will address the huge funding and knowledge gap for women in business.

“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.”

The accelerator program 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.

Sarah Ngamau, Managing Director, Moremi Fund said; “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.”

The World Economic Forum has identified Sub-Saharan Africa as having the world's highest rate of women involved in entrepreneurial activity, with women making up 58 per cent of Africa’s self-employed population.

“At Kuramo Capital and Kuramo Foundation for Sustainable Development, we firmly believe that 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 very delighted to promote inclusive economic empowerment of female-led funds in Pan-Africa,” says Sarah.

Kuramo was established in 2011 and has since mobilized over $3.5 billion (Ksh 73.8 billion) to support over 200 companies and create over 50,000 jobs in Africa.

The firm focuses on creating long-term capital value to facilitate the sustainable growth of businesses across diverse sectors of the economy.