Apply Now: FSD Africa Finance Facility Opens for African Fund Managers
Emerging fund managers and alternative finance providers supporting small and growing businesses across Africa can now apply for funding and capacity-building support under the newly launched Manager Finance Facility (MFF) by FSD Africa.
The facility is designed to help locally rooted capital providers overcome funding and operational barriers, build investment track records and become better positioned to attract larger pools of commercial and institutional capital.
Through the MFF, eligible organisations can access flexible, returnable grant capital under two support windows.
The Piloting Capital window provides up to US$500,000 for emerging capital providers seeking to test innovative financing models, execute early transactions and establish a track record.
The Operational Capital window offers up to US$150,000 in working capital to help eligible providers sustain their teams, systems, governance and compliance while raising investment capital.
Beyond financial support, successful applicants can benefit from capacity-strengthening programmes covering areas such as governance, environmental, social and governance (ESG), impact measurement, valuation, fundraising and legal enablement.
The facility is particularly interested in alternative local capital providers developing innovative financing approaches, including revenue-based finance, flexible equity, venture debt and blended finance. FSD Africa also highlights climate-smart and gender-smart investment strategies as areas of interest.
Who Can Apply?
The opportunity is open to emerging Alternative Local Capital Providers (ALCPs) and fund managers developing innovative financing models for African small and growing businesses.
Applicants should have a viable investment thesis and some early traction but may have a limited track record and difficulty accessing commercial or quasi-commercial capital.
The programme is also aimed at providers with significant upfront capital requirements, sub-scale fund-size challenges and business models that can become sustainable after reaching sufficient scale.
Application Details
Programme: Manager Finance Facility (MFF)
Organiser: FSD Africa, with support from FMO and FCDO Nigeria
Target: Emerging African alternative local capital providers/fund managers
Piloting Capital: Up to US$500,000
Operational Capital: Up to US$150,000
Application: Rolling basis until March 2028
Applications from Nigeria-based ALCPs opened on September 1, 2026, while applications from other eligible African markets opened in September. Interested organisations can apply through the official MFF application portal and complete the eligibility screening before proceeding to further assessment.
This opportunity is particularly relevant to African fund managers and alternative finance providers developing new ways to channel capital to underserved small and growing businesses.
