Small businesses represent 90 percent of all companies and account for nearly 70 percent of both jobs and GDP worldwide.¹ With such a large footprint, they are an integral part of our global economy and can’t be overlooked. By partnering with leading non-profits and investment funds, Visa Foundation empowers small businesses and entrepreneurs with access to capital, digital tools, and financial skills to grow and thrive. In Africa, our partnership with Aruwa Capital shines a light on the transformative power of strategic capital allocation and innovative technology.
Enabling access to capital
Africa's informal economy is vast, dynamic and deeply entrepreneurial; it is a multi-trillion-dollar market built primarily by small businesses.² Across Nigeria and much of the continent, women stand at the forefront of this economy — estimated at a $15 trillion value that remains largely untapped — yet they often face immense hurdles in growing their ventures. Determined to create an environment that unlocks this economic potential, Adesuwa Rhodes founded Aruwa Capital Management, an impact-focused fund that taps into the potential of entrepreneurs, in particular women entrepreneurs, to ensure they can thrive.
In alignment with our mission of supporting entrepreneurs and local economies, Visa Foundation became the first institutional investor in Aruwa Capital in 2022, enabling them to raise an additional $17 million for African small businesses. Since then, they have invested in more than 10 companies, strengthening the African economy through innovative technology and ensuring more entrepreneurs are part of the formal economy. With an impressive reach of 120,000 entrepreneurs, OmniRetail was a standout performer, making Aruwa Capital’s investment decision clear.
