The African Development Bank (AFDB) has agreed to invest €12.5 million in Adiwale Partners which is a private equity fund that invests in emerging small and medium sized enterprises in Francophone West Africa. Adiwale Partners is an independent private equity fund manager established in 2016 by seasoned private equity and capital markets professionals. Adiwale helps investee companies make substantial improvements in governance and operations so that management can better focus on driving top line growth. The total amount required for the fund is €75 million which is still raising capital in the market. The company is based in in Abidjan, Cote d’Ivoire.