Kuramo Capital Management, a prominent investment management firm specializing in Sub-Saharan Africa (SSA), has announced its ambitious plan to invest $150 million over the next decade in enterprises led by women. This significant investment is earmarked for deployment through the Moremi Platform, a strategic initiative aimed at fostering the growth of the next generation of African women-led enterprises and advancing gender-equitable fund management.

The Moremi Platform, structured around three key pillars, encompasses an accelerator program, a warehousing/lending facility, and a Fund of Funds. Kuramo has unveiled the inaugural cohort of the accelerator program, designed not only as a financial investment but also as a comprehensive mentorship, capacity-building, and technical assistance platform. This initiative is poised to annually target 40 female entrepreneurs and fund managers.

Wale Adeosun, the CEO and Founder of Kuramo, emphasized the program’s commitment to addressing the substantial funding and knowledge gap hindering women in business—a critical barrier to achieving inclusive, sustainable economic and social development in African nations. Adeosun underlined the program’s dual focus on empowering female entrepreneurs and enhancing the skills of women fund managers to catalyze the growth of women-driven enterprises.

Adeosun stated, “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 introduces a structured curriculum for capacity building, technical assistance, and mentoring, specifically targeting the knowledge gap faced by female fund managers in Africa. Sarah Ngamau, Managing Director of Moremi Fund, emphasized the program’s strategic importance at a crucial juncture in Africa’s investment landscape.

Despite an increased flow of capital to Africa, women have been underrepresented at all levels of the investment landscape. Ngamau stated, “Our goal is to address this barrier and improve the ecosystem by supporting female-led African private equity and venture capital funds.”

Sub-Saharan Africa has been recognized by the World Economic Forum as having the world’s highest rate of women involved in entrepreneurial activity, with women comprising 58 percent of Africa’s self-employed population. Building on this strong foundation, Kuramo’s initiative aims to implement gender-smart investment practices to further support female entrepreneurs and gender-diverse businesses.

Kuramo, established in 2011, has already mobilized over $3.5 billion to support more than 200 companies, resulting in the creation of over 50,000 jobs in Africa. The Moremi Accelerator Program aligns seamlessly with the firm’s vision to catalyze gender-equitable capital growth, a crucial element in powering Africa’s socio-economic transformation.

Shaka Kariuki, Co-CEO & Chief Investment Officer at Kuramo Capital, emphasized the program’s significance in contributing to Africa’s appeal as an attractive investment destination. He highlighted Kuramo’s past successes in anchoring and funding over 15 funds across Sub-Saharan Africa, countering earlier reservations about investing on the continent.

Kariuki stated, “With the Moremi Accelerator Program, we will be addressing challenges facing African female entrepreneurs and fund managers owing to such perceptions.” Kuramo remains committed to fostering the growth of funds that generate value and provide risk-adjusted returns to investors while simultaneously empowering communities with sustainable solutions. This accelerator program stands as a testament to Kuramo’s dedication to expanding its impact across the African continent.

Photo (Kuramo Foundation)

November 16, 2023
By: Delino Gayweh
Serrari Financial Analyst