African Rivers Fund

African Rivers Fund (ARF) invests in small and medium-sized enterprises (SMEs) in Central and Eastern Africa. Countries covered are the Democratic Republic of Congo, Uganda, Republic of Congo, Burundi and Central African Republic.


The Fund aims to achieve sustainable economic development by (i) encouraging entrepreneurship in these fast growing markets and (ii) creating a local manufacturing, services and agricultural base to provide Central African economies with locally produced goods and services.

Currently, many opportunities remain unexploited due to the lack of risk capital and support. By filling this gap, entrepreneurial efforts can have a multiplier impact, creating jobs and income. Often, entrepreneurs create businesses with regional growth prospects. The African Rivers Fund had its first close in February 2016 at USD 50 million with the objective to provide risk capital to about 25 companies with an investment size in the range of USD 250k to max USD 5 million. ¬†As per Q2 2018, about 61% of ARF’s capital is invested in 21 portfolio companies, spanning a range of sectors.