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 a pleasure to attend the Elevate Africa Annual Convening 2026, held in Accra, Ghana, under the theme “Africa: Defining Her Future.” Hosted by Their Majesties, the Olu of Warri and Her Majesty Olori Atuwatse III, Queen Consort of the Warri Kingdom, the gathering brought together leaders from across Africa and the diaspora for conversations on governance, leadership, trade and economic opportunity. Discussions explored the importance of African-led solutions, stronger regional integration, investment, youth leadership and the role of the diaspora in shaping the continent's future. The conversations on trade and investment were particularly relevant to my work in capital allocation, reinforcing the importance of deploying patient capital, supporting productive businesses and building stronger African economies through cross-border collaboration and inclusive growth.
It was a pleasure to participate in the Women Allying Women (WAW) Leadership Breakfast in Accra, Ghana, ahead of the Elevate Africa Annual Convening 2026. The gathering brought together more than 100 women leaders from over 15 African nations, including government, business and finance, for conversations on women’s leadership, influence and collaboration across the continent. The breakfast was co-hosted by Ghana’s Vice President, Professor Naana Jane Opoku-Agyemang, and Her Royal Majesty Olori Atuwatse III. I also joined a fireside chat exploring women’s leadership and influence in Africa. A key highlight was the launch of the Ghana Chapter of Women Allying Women, which aims to strengthen collaboration, mentorship and sponsorship among women across generations and sectors.
I had the pleasure of joining a panel at Beauty in the Motherland to discuss “Standardising Governance and Structure in the Beauty Industry.” I was joined by Nneka Okekearu of Pan-Atlantic University, Nwando Ajene and Efe Barber of Kuramo Foundation. We explored why Africa’s beauty industry, despite its significant market potential, remains underfunded. Key issues included market fragmentation, the lack of governance structures that meet investor expectations and limited representation of women among those allocating capital to the sector.
I had the pleasure of speaking on a fireside chat at the Design Week Lagos 2026. The conversation explored what makes manufacturing businesses attractive to equity investors and the role of patient capital in helping local businesses expand their operations, strengthen their capacity and compete at scale. I joined a panel session titled financing industrial growth alongside Afolabi Williams of Kuramo Capital, Adekunle Adebiyi of MBO Capital, and expertly moderated by Omobolanle Adekoya of PWC. Supporting businesses with the right capital and long-term investment approach can help them move beyond early success to sustainable growth.
I joined the Elevation NG Made for More 2026 Conference for a fireside chat themed “The Process of Building,” where we explored what it takes to build a career, a business and a life with intention. Drawing from my own entrepreneurial journey, I shared reflections on sustaining conviction through challenging seasons, building credibility without significant financial backing, earning sponsorship and knowing when to persist or pivot. The conversation also touched on the barriers young women continue to face in accessing capital, leadership opportunities and representation, and the importance of creating pathways for more women to lead and build on their own terms. I also participated in a podcast session at the conference, extending the conversation on growth, leadership and building with purpose.
I was pleased to attend Zenith Bank’s Girl Child Empowerment Programme, hosted by Dame Adaora Umeoji, Group Managing Director of Zenith Bank Plc, alongside my sister, Her Royal Majesty Olori Atuwatse III, Queen Consort of the Warri Kingdom. She spoke to young girls about identity, resilience and purpose, values that have also shaped my own journey. It was a valuable opportunity to reflect on what it takes to equip the next generation of girls with the confidence, networks and opportunities to become future founders, leaders and investors. Investing in girls today is an important part of building a stronger future for Africa.
I am honoured to have been featured in TIME Africa’s special edition, Nigeria 2026: Reform to Prosperity, alongside some of the country’s leading political and business figures. The recognition highlights the work we continue to do at Aruwa Capital Management to back the “missing middle” and close the funding gap facing women-led and women-focused businesses across Africa. Over the past seven years, we have invested in 17 companies, with 70% of our portfolio businesses being female-led or female-founded. This milestone belongs to our team, our founders, our Limited Partners and everyone who believed in this investment thesis before it became widely recognised.
I joined Professor Henrietta Onwuegbuzie for a fireside chat at the Lagos Business School Founders Investment Circle Pitch Day on 24 October 2026. Our conversation explored the challenges African entrepreneurs face when moving from early traction to sustainable scale, including access to growth capital and the operational foundations needed to build enduring businesses. The engagement reflected our continued interest in conversations that connect entrepreneurs with the capital, expertise and support they need to grow.
I joined Black Women Sell Live 2026 in Atlanta for a fireside chat with Ashley Nicole Kirkwood, Founder of Speak Your Way to Cash and host of The Ashley Nicole Show. Speaking with a community of more than 1,000 women entrepreneurs and business leaders, we discussed building businesses, pursuing ambitious growth and creating pathways to wealth. What stood out to me was the energy in the room and the scale of what these women are building. It was a reminder that some of the most valuable connections begin with simply saying yes to a conversation.
I moderated a session during the Forum of Young Global Leaders Learning Journey, hosted by the Aliko Dangote Foundation in collaboration with Access Bank. Drawing on lessons from a visit to the Dangote Refinery, we explored why building at scale in Africa remains difficult and expensive to finance, including the gap between bankability and completion and the role of patient equity capital in supporting African businesses and infrastructure. I was joined by Innocent C. Ike, Managing Director of Access Holdings Plc, and Alice Usanase of Africa50, bringing perspectives from banking, investment and infrastructure finance.
"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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