African Development Bank commits to Adenia fund
The fund, managed by Adenia, will channel growth capital to small- and mid-cap companies.
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The African Development Bank has authorised a $15 million equity investment in the Adenia Entrepreneurial Fund 1.
The fund, managed by Adenia, will channel growth capital to small- and mid-cap companies in various African countries, which work in sectors that contribute to economic resilience. Such sectors include light industry, consumer goods and services, renewable energies, health, and education.
“By targeting small- to mid-cap companies, AEF 1 will contribute to inclusive growth by facilitating access to finance for these businesses and promoting the creation of sustainable jobs. The fund will also strengthen regional integration by investing in companies operating on a regional scale and supporting them as they expand beyond their home markets,” explained Ousmane Fall, acting director of the industrial and trade development department at the African Development Bank.
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