The International Finance Corporation (IFC) has announced plans to invest up to $15 million in the CCA Growth Fund II, managed by CardinalStone Capital Advisers. This commitment underscores IFC’s ongoing strategy to strengthen private equity financing for small and medium-sized enterprises (SMEs) in West Africa.
CCA Growth Fund II is a generalist private equity fund focused on providing growth capital to SMEs in Nigeria and Ghana, with selective investments in Francophone West Africa. The fund targets a broad spectrum of high-potential sectors, including consumer goods, industrials, healthcare, agribusiness, and financial services. By supporting businesses in these areas, the fund aims to drive economic diversification, job creation, and sustainable growth across the region.
This proposed investment reflects IFC’s commitment to fostering inclusive private sector development and addressing the financing gap faced by SMEs—an essential engine for economic resilience and innovation in Africa.
