Podcast episode
Episode 210 – Why African Female Founders Return 2.5X More Revenue | Adesuwa Okunbo Rhodes
Join host Justin Forman in Nairobi, Kenya, as he sits down with Jean-Paul Nageri, co-founder of KaFresh, for an extraordinary conversation about finding divine solutions hidden in plain sight. When Jean-Paul watched his father’s banana harvest spoil while waiting for traders, he didn’t just see a problem—he saw a calling. What followed was a journey of “God Engineering” that led to a breakthrough preserving produce 10x longer using only natural plant oils.
All opinions expressed on this podcast, including the team and guests, are solely their opinions. Host and guests may maintain positions in the companies and securities discussed. This podcast is for informational purposes only and should not be relied upon as specific investment advice for any individual or organization.
Episode Notes
Discover why Africa represents one of the world’s most compelling investment opportunities through the lens of Adesuwa Okunbo Rhodes, founder of Arura Capital. As Nigeria’s first woman to raise over $10M for a private equity fund, Adesuwa shares how she’s delivering top-quartile returns while creating massive social impact by investing in overlooked female founders across the continent.
Learn why female-founded businesses in Africa generate 2.5X more revenue per dollar invested than their male counterparts, yet receive only 2% of available capital. Adesuwa breaks down the $150 billion capital gap facing African SMEs and explains how digital transformation is enabling businesses to leapfrog developed markets through embedded finance, B2B commerce platforms, and innovative solar solutions reaching off-grid communities.
From Lagos to Ghana to Côte d’Ivoire, see how Arura Capital’s portfolio companies are transforming Africa’s $1 trillion informal economy while creating 205,000 jobs and generating $150M in value chain revenue. This is faith-driven investing at its finest – market-rate returns with kingdom impact.
CHAPTERS
00:00 Introduction: Lagos Energy and Entrepreneurial Dynamism
02:32 Nigeria’s Demographics: 220M Population Growing to Third Largest by 2050
05:06 The Four Pillars Needed for Nigeria’s Next Decade of Growth
06:11 Africa’s $150 Billion Capital Gap and SME Financing Challenge
07:07 Digital Transformation and Leapfrogging Developed Markets
09:04 Government’s Role in Infrastructure and Economic Development
11:04 Faith-Driven Investors Shaping Cities and Nations
12:07 Building a Redemptive Capital Community in Nigeria
13:35 Living Life Beyond Self: The Legacy Perspective
14:56 Stewardship as the Gateway to Significance
15:59 Starting Arura Capital: Being What You Can’t See
17:14 Africa’s Female Entrepreneurship Rate: 4X Higher Than Europe
19:26 Fund One Results: Top-Quartile Returns with Measurable Impact
21:02 The Case for Commercial Returns with Social Impact
21:42 Measuring Value Chain Impact: $150M in Generated Revenue
22:47 Understanding Africa’s $1 Trillion Informal Economy
23:35 Portfolio Spotlight: Omni Retail’s B2B Commerce Platform
26:08 Portfolio Spotlight: Coolbox’s Solar Freezer Solutions
28:11 Why Africa Enables Seamless Impact and Returns
29:05 The Leapfrog Mindset: Building Rails Despite Infrastructure Gaps
29:43 Resilience and Innovation in Challenging Environments
30:48 Private Sector Solutions to Public Infrastructure Needs
32:03 Why Now Is the Best Time to Invest in Nigeria
33:31 The Innovation Coming from Nigeria’s Recent Challenges
34:43 The Luxury to Pick: Supply-Demand Mismatch Favoring Investors
36:08 Faith-Driven Investing in Africa: Heavenly and Financial Returns
37:14 Scripture and Strength: Daniel’s Contrarian Spirit
38:35 Seven-Year Fundraising Journey: First Nigerian Woman to Raise $10M Fund
39:55 God as Partner: No One Can Shut the Door God Has Opened
41:11 Encouragement for the Next Generation of Fund Managers