African Development Bank inks US$13.86m deal with Adiwale Fund for SMEs

WEST AFRICA – The African Development Bank signed off on its US$13.86m equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises (SMEs) in francophone West Africa. The Bank Group’s board of directors approved the investment in March as part of its commitment to grow SMEs and improve livelihoods in countries underserved by the global equity market. With a target fund size of €75 million, the Fund will take minority stakes in vibrant SMEs in countries where economic prospects and…

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