Deal Street

African Startup Funding Tracker

$446,279,000+

*Data updated daily at 18:00 EAT

Mastercard Foundation & Gebeya Launch USD 48 M Partnership
Mastercard Foundation & Gebeya Launch USD 48 M Partnership

Gebeya Inc, the SaaS-enabled, Pan-African marketplace and the Mastercard Foundation have announced Mesirat, a five-year program that will equip 100 entrepreneurs in Ethiopia with their own multi-sided gig marketplaces. Mesirat means “to work” in Amharic. Powered by a USD 48 M partnership, the two organizations and several other consortium partners will leverage their combined experience and expertise to co-create and replicate Gebeya’s model in tourism and hospitality, agriculture, education, construction, healthcare, commerce, manufacturing, Information Technology (IT), professional services, transport, the fast-moving consumer goods (FMCG) and entertainment sectors.

Mesirat will also empower entrepreneurs, especially young men and women, to launch and fully run their own gig marketplaces successfully across Ethiopia. This innovative partnership seeks to equip two million young people with market-facing skills and enable one million of them (70% women) to find work. The new partnership aligns with the Mastercard Foundation’s Young Africa Works Strategy to enable 10 million young men and women to have access to dignifying and fulfilling work by 2030, and equally speaks to Gebeya’s commitment to creating upskilling and employment opportunities for Ethiopia’s young people by leveraging digital technology.