The investment management company specialising in sub-Saharan Africa (SSA) will invest the funds via the Moremi Platform, a programme designed to support gender-equitable fund management and empower African women entrepreneurs.
The Moremi Platform comprises three main components: a fund of funds, a warehousing and lending facility, and an accelerator programme.
The company has announced the launch of the first cohort of the accelerator programme, the Moremi Accelerator Program, which aims to support 40 female fund managers and entrepreneurs annually and provides a platform for technical assistance, mentoring, and capacity building.
Since its founding in 2011, Kuramo has raised over $3.5 billion (Ksh 73.8 billion) to assist more than 200 businesses and create over 50,000 jobs throughout Africa.
Shaka Kariuki, Kuramo’s Chief Investment Officer, states that the accelerator programme is a crucial component of the company’s goal to accelerate gender-equitable capital growth needed to drive Africa’s socioeconomic transformation.
According to Wale Adeosun, Kuramo’s Founder, the initiative will bridge the massive knowledge and funding gap, which is an obstacle for women in business.