A river cuts through rock, not because of its power, but because of its persistence
Adesuwa Rhodes is changing the face of investing and entrepreneurship in Africa one investment at a time
Adesuwa is a leading investment professional and CEO with over 14 years of experience in investment banking and private equity in developed and emerging markets across a number of sectors including healthcare, financial services, technology and consumer goods. Adesuwa is an entrepreneur, CEO, mother, investor and women’s empowerment advocate. She is one of the youngest female private equity fund managers running her own fund in Africa, having launched her fund at 29 years old. She is the Founder and Managing Partner of Aruwa Capital Management, one of the few women owned and led private equity funds in Africa investing into untapped investment opportunities in West Africa in the small to lower mid-market. Adesuwa is focused on using Aruwa Capital Management’s investments as a case study to make the business case to invest in women as fund managers, entrepreneurs, consumers and stakeholders in society. Adesuwa is a mission driven pioneer on a mission to unlock the power of private capital as a catalyst for change in her environment.
Learn More"I am on a mission to unlock the untapped potential of women as capital allocators, consumers, founders, board members, suppliers and across all levels of society, to unlock enhanced financial returns and positive social impact."
~ Adesuwa Rhodes
It was an honour to receive an award of appreciation from United Way Greater Nigeria (UWGN), where I serve proudly as a board member. This recognition reflects a shared commitment to advancing economic inclusion and social change through collaborative, community-driven initiatives. I’m especially proud to support UWGN’s work in expanding access to education, empowering young people, and driving women’s economic participation across Nigeria.
I’m deeply honoured to be named one of the 100 Nigerian Women in Finance 2025 by Leading Ladies Africa. This recognition is not just a personal milestone, but a reflection of the progress we’ve made as a community in reshaping the investment landscape, especially when it comes to gender equality in finance. When I began my career in finance, women in decision-making roles, especially in investment and capital allocation, were scarce. I knew that to create lasting change, I had to be part of the movement that champions women as leaders in this space. Today, this recognition serves as a reminder that while we’ve come a long way, there’s still much work to be done.
It was great to join the all-female plenary at the NGX International Women’s Day Symposium—an inspiring gathering focused on accelerating women’s economic inclusion and breaking down the barriers to capital access. From gender-lens investing to the structural shifts required for real equity, the discussion was both timely and necessary. Sharing the stage with incredible women like Solape Akinpelu, Odiri Oginni, Chalya Shagaya, Pai Gamde, Kari Tukur, Adaorie Udechukwu, and Hilda Baci, with Ugochi Obi as moderator, was a powerful reminder of how important collective voices can be in shaping a more inclusive financial future. Capping off the day with the ceremonial bell ringing on the NGX trading floor was a proud moment, symbolic of the growing momentum behind women driving change in capital markets.
It was great to moderate a panel session at the NESG Private Sector Business Forum, where I led a timely conversation on “Emerging Business Challenges and Coping Strategies in 2025.” Joined by Tosin Ojo, Partner Sahel Capital, Dele Kelvin Oye, President NACCIMA & Chairman Organized Private Sector of Nigeria (OPSN), and Dr. Vincent Nwani, Strategy Leader, West Africa Safrik Investments Group, we unpacked the most pressing issues facing businesses in Nigeria today, from policy shifts and currency volatility to compliance burdens and constrained access to capital.
It was a pleasure to return to Oxford for the 2025 Oxford Africa Business Forum, hosted by the Oxford Africa Business Alliance in collaboration with Saïd Business School. I joined the panel on “Financing Africa’s Growth from Within” alongside David Awuah-Darko (IC Group), Henry Odogwu (BlackRock), Vish Ashiagbor (PwC Ghana), and moderator Obi Chinomso (Oxford MBA), where we explored how local capital, and homegrown strategies can drive sustainable development across the continent.
I travelled from Lagos to Colombo for the Innovation for Impact VC Summit, hosted by British International Investment (BII). This summit brought together over 150 investors, founders, and venture capital leaders from Africa and South Asia to exchange insights on scaling businesses in emerging markets. I had the honour of speaking on two engaging panels: “Same Same, But Different: From Ludhiana to Lahore to Lagos”, where we explored shared challenges in access to capital and scalability, and Fund Manager Pecha Kucha, a dynamic session unpacking real experiences in building sustainable investment platforms.
It was great to speak on the “Scaling Impact Initiatives to Attract and Mobilize Capital for Sustainable Investments” panel at the IIF Roundtable, moderated by Muizz Bello, Senior Associate at African Capital Alliance. Alongside Mr. Akinwande Pearse, Technical Adviser at GIZ, and Andrew Tarazid-Tarawali, Investment Director at Small Foundation, we explored how impact initiatives successfully mobilise capital and the role of sponsors in driving sustainable investments.
I had a fantastic time moderating the Women’s Forum: Breaking Barriers – Driving Inclusive Innovation in Africa’s Startup Ecosystem at the Omniverse Summit 2025. Alongside an inspiring panel—Dr. Tewa Onasanya, Founder & CEO of Exquisite Magazine, Mea Boykins, Director of Partnerships & External Engagement, and Osasuyi Dirisu, Executive Director at the Policy Innovation Centre who joined us virtually. We discussed the systemic barriers female founders face in accessing capital and the role of gender-lens investing in overcoming these challenges.
I had the privilege of being featured in the 13th Inspiring Women Series hosted by Kemi Ajumobi, Editor, BusinessDay. The event was a platform dedicated to spotlighting trailblazing women making remarkable strides in their industries. Recognised for Aruwa Capital’s pioneering work in gender lens investing, I shared the stage with fellow panelists committed to driving sustainable impact across Africa- Kari Tukur, Regional Vice President, Customer Solutions Mastercard Dr. Odiri Oginni, MD/CEO United Capital Ayodele Olejede, Divisional Head, Retail and SME, Wema Bank and moderated by Linda Uneze, Cofounder Maurice Xandra Solutions.
I had the pleasure of joining a fireside chat at the Gender Bonds Toolkit Dissemination Event in Lagos, hosted by FSD Africa. The discussion focused on how gender bonds can unlock capital for women-focused investments and drive financial inclusion across Africa. Moderated by Kate Perkins (BII), I was joined by Ojuru Adeniji, VP Origination & Structuring InfraCredit and Marlene Muller, innovation Manager Symbiotics. As gender bonds gain momentum, Aruwa Capital remains at the forefront, shaping the future of inclusive finance and expanding capital flows to women-led businesses
"I believe the way to effectively provide women with more seats at the table is for us to create our own tables. More women succeeding as capital allocators means more women getting funded, more mentors, more torch-bearers, and more examples to follow. Investing in or with funds like Aruwa Capital Management is a practical way to narrow the gender funding gap and making money while you do so."
- Adesuwa Rhodes
Adesuwa is the Founder & Managing Partner of Aruwa Capital Management an early stage private equity fund investing in rapidly growing businesses in West Africa. With Aruwa Capital and her own personal investments, Adesuwa is focused on uncovering untapped investment opportunities that are typically overlooked and underserved. Adesuwa is passionate about showcasing the natural competitive advantage women allocating capital have when investing in businesses for women and by women. Through a gender lens investment strategy, Adesuwa is focused on generating enhanced financial returns whilst delivering positive social impact with a multiplier effect across societies and economies.
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