Business
IFC to Invest $50M in Adenia Fund for African SMEs
IFC plans $50M investment in Adenia Fund to support African SMEs in renewable energy, healthcare, education, and consumer sectors
The International Finance Corporation (IFC) announced plans to invest up to $50 million in Adenia Entrepreneurial Fund I, a pan-African private equity fund managed by Adenia Partners, the World Bank Group member disclosed on Wednesday, January 14, 2026.
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The IFC intends to commit $30 million directly to the fund, alongside a $20 million co-investment facility, targeting small and medium-sized enterprises (SMEs) across Africa. The financing is designed to address structural underfunding in sectors that underpin the continent’s economic growth.
Adenia Entrepreneurial Fund I will focus on light manufacturing, consumer goods and services, renewable energy, healthcare, and education.
The fund plans to take majority stakes in portfolio companies, driving operational improvements, strengthening governance, and supporting long-term growth strategies.
Adenia Partners, a leading African private equity firm, will collaborate with investee companies on growth planning, value creation, and access to sector expertise and technical assistance.
The fund aims to invest between $10 million and $20 million in each of approximately ten growth-stage African businesses, while also promoting social impact through job creation for youth and women.
The fund seeks commitments ranging from $150 million to $180 million, with IFC’s proposed participation pending approval by its board of directors in a meeting scheduled for February 11, 2026.
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This investment aligns with IFC’s broader strategy to stimulate private sector-led economic development in Africa, supporting SMEs that contribute to sustainable and resilient growth across the continent.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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