KIGALI, Rwanda – Managing Partner of Aruwa Capital Management, Adesuwa Okunbo Rhodes, has commended the Mastercard Foundation for its role in expanding access to capital for emerging African fund managers, describing the institution as a key driver of the continent’s economic development and youth empowerment.
Okunbo Rhodes made the remarks after attending the Mastercard Foundation Young Africa Works Summit in Kigali, Rwanda, which marked the Foundation’s 20th anniversary and seven years of implementing its Young Africa Works strategy.
Reflecting on the summit, she said the event provided an opportunity to engage with stakeholders committed to addressing some of Africa’s most pressing youth challenges, including access to finance, the transition from education to employment, market access, and economic inclusion.
According to her, the Foundation’s emphasis on tailored solutions for young Africans demonstrates its commitment to creating sustainable opportunities for the continent’s growing youth population.
A highlight of the summit, she noted, was meeting Reeta Roy, the Foundation’s immediate past President and Chief Executive Officer, whom she personally thanked for the establishment of the Mastercard Foundation Africa Growth Fund (MFAGF).
Okunbo Rhodes said the Africa Growth Fund has played a significant role in Aruwa Capital Management’s growth, serving as a key investor in the firm’s first fund and an anchor investor during the first close of Aruwa Capital Fund II.
She explained that the fund is helping bridge a longstanding financing gap for local, diverse, and emerging fund managers across Africa—an area she described as the “missing middle” of the continent’s investment ecosystem, where many institutional investors have traditionally been reluctant to invest.
She also acknowledged the support of Dr. Dorothy Nyambi, President and Chief Executive Officer of MEDA (Mennonite Economic Development Associates), praising her leadership and continued commitment to advancing inclusive economic development across Africa.
During the summit, Okunbo Rhodes met the Mastercard Foundation’s new President and Chief Executive Officer, Sewit Ahderom, with whom she shared success stories from companies within Aruwa Capital Management’s investment portfolio.
She described the Mastercard Foundation as a critical partner in Africa’s development journey, noting that its investments continue to strengthen entrepreneurship, expand access to capital, and create opportunities that contribute to sustainable economic growth across the continent.
The Young Africa Works Summit brought together policymakers, investors, development partners, entrepreneurs, and youth leaders to review progress made under the Foundation’s flagship strategy and explore new approaches to accelerating job creation, financial inclusion, and economic opportunities for young Africans.
