AfDB approves US$14.05m investment in Adiwale Fund 1 targeting Francophone West Africa

WEST AFRICA – The Board of the African Development Bank (AfDB) has approved a €12.5 million equity investment in Adiwale Fund 1 targeting high growth potential Small and Medium Sized Enterprises (SMEs) in French speaking West African countries. With a target fund size of US$84.3 million, the first-generation private equity fund will take minority stakes in SMEs that are well established in their markets, have competitive advantage and can rapidly scale up. The geographical focus of the Fund will be on a handful of countries where economic prospects, and the Fund’s…

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