The African Development Bank Group’s Board of Directors has approved a $15 million equity investment in Adenia Entrepreneurial Fund 1 (AEF 1). The decision, made in Abidjan on 19 November 2025, aims to provide growth capital to small- and mid-cap companies across multiple African countries. These companies operate in sectors that strengthen economic resilience, including light industry, consumer goods and services, renewable energies, health, and education.
AEF 1 will take majority stakes in selected firms to drive operational improvements, enhance management practices, and support the implementation of growth strategies. Adenia, the Fund’s manager, will assist these companies in developing business plans, creating value, accessing sector expertise, and receiving technical assistance. The African Development Bank anticipates that the Fund will generate $55.5 million in tax revenue for governments and strengthen regional integration. Over the life of the Fund, 1,810 full-time-equivalent local jobs are expected to be created, with 45% designated for women and 55% for young people.
Ousmane Fall, acting director of the Industrial and Trade Development Department at the African Development Bank, highlighted that targeting small- to mid-cap companies will promote inclusive growth by improving access to finance and supporting sustainable job creation. The Fund is also expected to enhance regional integration by investing in companies that operate across multiple countries and helping them expand beyond their domestic markets.
Adenia Partners Ltd, the Fund manager, is a private equity firm focused on responsible investment for a sustainable Africa. Founded in 2002, Adenia is a leading pan-African private equity platform that has raised over $900 million from private, institutional, and development finance partners. The firm has successfully managed five funds, invested in 34 companies, and completed 20 exits, demonstrating significant experience in driving business growth across the continent.
