馃嚦馃嚞NigeriaWest Africa
Adesuwa Okunbo-Rhodes discusses early career in investment banking and focus on African SMEs
via Punch Nigeria3 min read
Adesuwa Okunbo-Rhodes, Managing Partner of Aruwa Capital Management, shared insights into her career, starting with her first investment banking job at Lehman Brothers at age 18, followed by J.P. Morgan at 20. She explained that her experience in private equity, particularly in Africa, highlighted the potential of combining financial returns with social impact. Returning to Nigeria in 2014, Okunbo-Rhodes identified significant funding gaps for small and medium-sized enterprises SMEs and women-owned businesses, estimating a growth equity gap of about $150 billion for Nigeria and Ghana alone. She noted that less than two percent of capital went to female entrepreneurs despite Africa having the world's highest rate of female entrepreneurship. These observations led her to establish Aruwa Capital in 2019, a private equity firm focused on women-led and women-focused SMEs. The firm began with a $20 million fund to build a track record and now manages $80 million across two funds, having invested in 16 companies. Okunbo-Rhodes advises entrepreneurs that investors look for founders who can articulate problems, demonstrate resilience, have good governance, and show adaptability. Aruwa Capital also supports its portfolio companies beyond financing by helping them strengthen governance, recruit financial professionals, and improve operational structures.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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