In West Africa, the Financial Corporation International (SFI) plans to invest up to 8 million dollars in the Aruwa Capital Fund II (ACF II). They target SMEs in Nigeria and Ghana.

The International Finance Corporation (IFC) is a an essential branch of the World Bank Group specializing in the support and private sector development. The fund should invest primarily in Nigeria, while allocating up to 20% of its commitments to Ghana. The operation would be supported by a concession mechanism to attract more of private investors.

Currently awaiting approval, the project must be submitted to the Board of Directors on 11 March 2026. The fund, managed by AR Capital, a company registered in Mauritius, aims for a target size of 50 million dollars, with a ceiling set at 60 million. The investment envisaged by the IFC would be capped at 20% of total commitments.

Aruwa Capital Fund II plans to invest tickets initial investments of between 1 and 3 million dollars in SMEs in the phase of growth. It takes an approach that favors high-impact businesses. in terms of the inclusion of women, especially in the goods sectors of consumption, clean energy, financial services, and health.

According to the SFI, the project could benefit from the IDA21 CONCESSIONAL CAPITAL WINDOW “Concessional Capital Window”, for $3 million in the form of a co-investment subordinate. This “blended finance” mechanism aims to to mobilize private capital into segments considered risky or underserved