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ARUWA CAPITAL MANAGEMENT: CLOSING THE GENDER FUNDING GAP IN AFRICA

By Edose Favor Eromosele

In the global and national investment landscape, women-owned businesses face a significant funding gap that has persisted despite growing recognition of the economic potential of female entrepreneurs. According to a 2021 report by the International Finance Corporation (IFC), women-led businesses receive only 7% of private equity and venture capital funding globally, despite evidence that gender-diverse teams can deliver higher returns on investment. In Africa, this gap is even more pronounced, with female entrepreneurs often struggling to access the capital needed to scale their businesses.

Aruwa Capital Management, a pioneering, female-founded and led growth equity firm based in Nigeria, is at the forefront of addressing this disparity. Focusing on investments in female-owned and female-led businesses, Aruwa Capital is not just bridging the funding gap but is also fostering economic empowerment and driving inclusive growth across Africa. The firm’s dedication to gender-inclusive investment is particularly crucial in a continent where women-owned businesses represent a significant yet underfunded segment of the economy.

This investment reflects Aruwa’s belief in the potential of women to lead innovative, tech-driven businesses that challenge conventional norms. These investments are just a glimpse of how Aruwa Capital is working to close the gender funding gap in Africa, providing much- needed capital to businesses that not only contribute to the economy but also serve as role models for the next generation of female entrepreneurs.

Challenges and Triumphs: Navigating Africa’s Investment Landscape

Operating in Africa presents unique challenges for investment firms like Aruwa Capital. The continent’s investment environment is often characterized by high levels of risk, including political instability, fluctuating currencies, and underdeveloped financial infrastructure. Additionally, there is often a lack of supportive regulatory frameworks, which can make it difficult for investment firms to operate efficiently influencing sectors such as hospitality, healthcare, and agriculture. Her leadership at Aruwa Capital exemplifies the power of inclusive investment in driving social and economic change across Africa.

Investments in Women-Owned Businesses

 Fastizers: Founded by Deborah Lawson, Fastizers is a leading Nigerian manufacturer of snack foods and confectioneries. Through Aruwa’s strategic investment, Fastizers has expanded its product offerings and distribution networks, solidifying its position in the market. This investment underscores Aruwa’s commitment to empowering female entrepreneurs in traditionally male-dominated industries.

Taeillo Nigeria: Jumoke Dada founded Taeillo, a tech-enabled furniture company that designs and manufactures Afrocentric furniture. Aruwa’s backing has allowed Taeillo to leverage augmented reality (AR) and virtual reality (VR) technologies to enhance customer experiences and expand its market reach into East Africa.

Despite these challenges, Aruwa Capital has demonstrated resilience and a steadfast commitment to its mission. Through careful selection of high- potential investments and strategic support to their portfolio companies, Aruwa is not only overcoming these obstacles but also demonstrating that gender- focused investment strategies can thrive in Africa. Their success is a testament to the fact that with the right approach, investing in women is not just a moral imperative but a smart economic strategy.

A Hopeful Future: The Impact of Gender-Inclusive Investment

As Aruwa Capital continues to champion gender-inclusive investment in Africa, the ripple effects are becoming increasingly apparent. Empowering women entrepreneurs enables the firm to contribute to broader economic growth, job creation, and community development. These efforts are particularly significant in Africa, where women play a crucial role in both the formal and informal economies.

The hope for the future lies in the replication of Aruwa Capital’s model across the continent. If more investment firms adopt a gender lens in their strategies, the funding gap for women- owned businesses can be narrowed, unlocking the vast economic potential of female entrepreneurs. As Aruwa Capital leads the charge, they not only pave the way for other firms but also inspire a new generation of women leaders who will shape the future of Africa. Aruwa Capital’s journey is a powerful reminder that progress is possible, even in the face of significant challenges. Continuing to support women- owned businesses and advocating for gender equality in the investment landscape, Aruwa Capital helps build a more inclusive and prosperous Africa—one investment at a time.

Meet the Founder: Adesuwa Okunbo Rhodes

Adesuwa Okunbo Rhodes is the visionary Founder and Managing Partner of Aruwa Capital Management. With a career that began at Lehman Brothers, Adesuwa holds a BSc in Economics from the University of Bristol. Her dedication to gender equality in private equity and her broader impact on society through Aruwa Capital’s investments have earned her recognition as an Agent of Impact by Impact Alpha in 2019 and as one of the Top 35 Women Moving Africa Forward in 2020. Adesuwa currently serves on several boards in Nigeria.

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