The African Development Bank (AfDB) has approved a $15 million equity investment in the Adenia Entrepreneurial Fund I (AEF I), a growth-focused fund managed by Adenia Partners. This strategic investment aims to provide growth capital to small- and mid-cap companies across multiple African markets, particularly those operating in sectors that strengthen economic resilience.
AEF I will target businesses in light industry, consumer goods and services, renewable energy, healthcare, and education—industries that play a critical role in driving inclusive development and long-term sustainability across the continent. The Fund will take majority stakes in firms, so that it can drive operational improvements, strengthen management practices, and support the implementation of growth strategies.
Adenia, the Fund manager, will help the firms to design development plans, create value, receive advice from sector experts, and obtain technical assistance. The African Development Bank estimates that the Fund will generate $55.5 million in tax revenue for governments, as well as strengthening regional integration. A total of 1810 local jobs (full-time-equivalent) should be created over the life of the Fund, of which 45% for women and 55 percent for young people.
Ousmane Fall, Acting Director of AfDB’s Industrial and Trade Development Department, said:
By focusing on small- to mid-cap companies, AEF I will foster inclusive growth by improving access to finance for these businesses and supporting the creation of sustainable jobs. The fund will also enhance regional integration by investing in companies with cross-border operations and helping them scale beyond their home markets.
This investment underscores AfDB’s commitment to private sector development, job creation, and regional economic integration, while promoting sectors that deliver both financial returns and social impact.
