KURAMO Capital Management, a prominent investment management firm with a focus on sub-Saharan Africa, has unveiled an ambitious plan to invest $150 million over the next decade to support female-led startups throughout the African continent. This initiative will be executed under the banner of the Moremi Platform, a holistic project aimed at empowering the next generation of African women entrepreneurs and advancing gender-equitable fund management.
The Moremi Platform comprises three core pillars: an accelerator program, a warehousing/lending facility, and a Fund of Funds. The firm has announced the launch of the first cohort of the accelerator programme, which serves a dual purpose as a mentorship platform and a means for capacity building and technical assistance. This programme will specifically target 40 female entrepreneurs and fund managers annually, providing them with vital knowledge, skills, and guidance.
Wale Adeosun, CEO and Founder of Kuramo, emphasised that this programme seeks to bridge the significant funding and knowledge gap that has hampered women in business, a barrier to inclusive, sustainable economic and social development across Africa. The program’s focus includes the development of women fund managers who can, in turn, foster the growth of women-driven enterprises.
Adeosun further expressed his belief that this gender lens initiative could have a catalytic impact similar to the positive outcomes the firm achieved in the past by addressing gaps in African fund management.
The accelerator programme offers a structured curriculum designed to enhance capacity, provide technical assistance, and offer mentoring to women in business, with a particular emphasis on female fund managers across the African continent.
Sarah Ngamau, Managing Director of Moremi Fund, emphasised the timeliness of this accelerator program, acknowledging that despite increased capital inflow into Africa, women have remained underrepresented at all levels of the investment landscape. The programme’s goal is to address this disparity and enhance the ecosystem by bolstering female-led private equity and venture capital funds.
Sub-Saharan Africa has been recognised 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 upon this strong foundation, strategies that prioritise gender-smart investment practices have become essential to promote inclusive and sustainable economic development.
Kuramo Capital, established in 2011, has mobilised over $3.5bn to support more than 200 companies and create over 50,000 jobs across Africa. The firm’s overarching goal is to foster long-term capital growth that will facilitate the sustainable expansion of businesses across diverse sectors of the economy. The Moremi Accelerator Programme aligns seamlessly with the firm’s vision to catalyse gender-equitable capital growth, a key driver of Africa’s socio-economic transformation.
Shaka Kariuki, Co-CEO & Chief Investment Officer of Kuramo Capital, sees the accelerator programme as a testament to the firm’s commitment to positioning Africa as an attractive investment destination. Prior to Kuramo’s presence in Africa, few investors were deploying capital to African fund managers on the continent. However, Kuramo’s entry has anchored and funded more than 15 funds across sub-Saharan Africa, mitigating some of the challenges associated with investing on the continent. With the Moremi Accelerator Programme, Kuramo aims to address the specific hurdles faced by African female entrepreneurs and fund managers, combating negative perceptions and fostering a more inclusive investment landscape.
