According to a statement by the company on Tuesday, the managing partner noted that the investment gap faced by women in Africa which comprised 40 per cent of all small and medium enterprises regrettably received only one per cent of startup capital which she attributed to the lack of female capital allocators in the region.
She said, “Through its investment strategy, the fund aims to create more sustainable and scalable pathways for economic growth and inclusion in the region. The Fund will invest $500,000 to $2.5m in women-focused small and growing businesses in Nigeria and Ghana, targeting investments in critical sectors such as healthcare, fintech, renewable energy, and essential consumer goods.
“Aruwa invests in innovative businesses, poised for scale, that provide essential goods and services to the rapidly expanding female economy, and businesses that are founded or led by women or have gender diverse teams.
In aiding the bridge the financial gap among woman, the Head of Investments at Visa Foundation, Najada Kumbuli, announced Visa Foundation as the first institutional investor in Aruwa Capital Management.