Kuramo Capital's Moremi Initiative Paves the Way for African Women Entrepreneurs
Kuramo Capital Management, a specialized investment firm focusing on Sub-Saharan Africa (SSA), has announced a $150 million commitment to support enterprises led by African women through its Moremi Platform.
This 10-year initiative aims to empower the next generation of female entrepreneurs across Africa and promote gender-inclusive fund management.
The Moremi Platform encompasses three main components: an accelerator program, a warehousing/lending facility, and a Fund of Funds.
The initial phase, the accelerator program, focuses on mentoring, capacity-building, and providing technical support to 40 female entrepreneurs and fund managers annually.
According to Wale Adeosun, CEO and Founder of Kuramo, this initiative aims to address significant financial and knowledge disparities faced by women in business, which hinder comprehensive and sustainable economic and social progress in African nations.
It also underscores the development of women fund managers to nurture the growth of women-led businesses.
The accelerator program offers a structured curriculum for capacity enhancement, technical assistance, and mentorship specifically tailored for women in business, particularly female fund managers in Africa.
The goal is to increase representation and support female-led African private equity and venture capital funds.
The World Economic Forum highlights Sub-Saharan Africa as having the world's highest rate of women engaged in entrepreneurial activity, comprising 58 percent of the self-employed population in Africa.
To build on this foundation, strategies prioritizing gender-smart investment practices are needed. Kuramo Capital and Kuramo Foundation for Sustainable Development firmly believe that investing in female-led and gender-diverse fund managers is the most effective way to unlock capital for female entrepreneurs and gender-smart businesses at scale.
The Moremi Accelerator Program is a pivotal aspect of their vision to drive gender-equitable capital growth, essential for Africa's socio-economic transformation.
Established in 2011, Kuramo has already mobilized over $3.5 billion (Ksh 73.8 billion) to support 200+ companies, generating 50,000+ jobs in Africa.
The Moremi Accelerator Program is fundamental to their commitment to creating lasting capital value and promoting sustainable business growth across various sectors of the economy, with a focus on gender equality.
Shaka Kariuki, Co-CEO & Chief Investment Officer of Kuramo Capital, views the accelerator program as a significant contribution to positioning Africa as an attractive investment destination and addressing challenges facing African female entrepreneurs and fund managers.
Charles Rapulu Udoh / Afrikan Heroes