Adebola Adeniyi: The Future of Impact Investments in Africa
Precious Ugwuzor
In a remote village in Malawi, a young entrepreneur struggled to expand his small business because he lacked access to the internet. His story is not unique to millions across Africa who remain disconnected, limiting economic opportunities and hindering development. With only 37% of Africans online and an estimated $100 billion needed to bridge the digital divide, low internet penetration and high internet costs still exist today. Hence, the urgency for impact investments in technology and infrastructure has never been greater.
With over seven years of experience in the financial services sector, Adebola’s first professional experience was at Nigeria’s Bank of Industry, where she played a key role in refinancing, restructuring, and funding manufacturing projects. She contributed to sustainable economic development and built a more resilient, industrialized, and competitive Nigeria.
Adebola spearheaded efforts to restructure loans and inject capital into struggling manufacturing businesses, which ensured access to working capital that helped stabilize and increase production capacity to strengthen Nigeria’s position in regional and global markets, boosting agro-processing and food security, which enabled companies to expand operations, continuous food processing, support local farmers, and re-enter international markets, contributing to Nigeria’s non-oil export earnings, strengthening pharmaceutical and the healthcare industry to expand local production of essential drugs, reducing Nigeria’s reliance on imports and enhancing access to affordable medicines, accelerating energy and infrastructure development which contributed significantly to Nigeria’s electricity grid, and enhancing Nigeria’s Financing Technology Sector which supports Nigeria’s financial inclusion goals and digital payments industry and remains critical to Nigeria’s industrial landscape.
A Strong Foundation in Finance and Impact Investing
Adebola’s academic and professional journey has equipped her with the skills to drive transformational impact. With a background in Statistics, Accounting, and Finance, she developed a strong analytical foundation that she later sharpened through her MBA at the University of California, Berkeley, Haas School of Business. Among the MBA students, fellowship awards unite students who hope to develop a common goal in their field. Based on her interview performance, prior experience, and clarity of career goals, she was honored as an Impact Chief Financial Officer Fellow and a Finance Fellow, recognizing her passion for finance and social impact. Selected students benefit significantly from workshops, speaker series, and networking events that complement hands-on projects and industry mentorship, offering fellows a significant advantage in their professional development and ensuring a comprehensive learning experience. The fellowship positions her to contribute significantly to the financial industry and Impact Investing.
More recently, through the University of California, Berkeley, Haas School of Business applied innovation course Impact and Climate Investing Practicum, she served as an Environmental, Social, and Governance Consultant at The Builders Fund. She evaluated impact metrics and financial performance for portfolio companies expanding in the United States, further strengthening her ability to align capital with measurable social and economic outcomes.
Delivering Measurable Impact in Digital Transformation
She continues to pursue opportunities that mobilize strategic capital for high-impact businesses and infrastructure development, particularly digital access. She has directly contributed to expanding internet access and digital inclusion through her work in impact investing and infrastructure financing. During her 2023 summer project at Connectivity Capital, she conducted a feasibility study on deploying broadband towers across Malawi’s most populated districts. This project is expected to:
• Significantly increasing the number of households with reliable internet access.
• Enable internet access for over 500,000 people, many in underserved areas.
• Generate an estimated 1,200 jobs in infrastructure development and maintenance.
• Enhance economic participation by allowing small businesses and entrepreneurs to leverage digital tools.
Additionally, her work aligns with U.S. economic engagement in Africa. The U.S. Trade and Development Agency has supported 18 feasibility studies across the continent to expand internet access and affordable connectivity. Her expertise in structuring these investments strengthens U.S.-Africa economic relations, positioning her as a key player in fostering sustainable development through strategic capital deployment. Converged Technology Network (CTN) has significantly enhanced internet connectivity in Malawi.
Collaborating with international partners, CTN received a grant from the U.S. Trade and Development Agency in 2022 for a feasibility study to expand digital connectivity to Malawi’s underserved communities. This initiative underscores CTN’s dedication to sustainable development and bridging the digital divide. Overall, CTN’s efforts have substantially impacted Malawi’s digital landscape, fostering economic growth and enhancing access to information through improved internet connectivity.
Similar projects with continuous impact on the continent
Google’s Project Taara & Loon in Africa
• In Kenya, Loon’s internet balloons aimed to provide 4G LTE coverage to underserved areas, enabling thousands of people to connect to the internet for the first time.
• Project Taara’s wireless optical communication technology was piloted in Africa, transmitting data at up to 20 Gbps to bridge connectivity gaps.
Facebook (Meta) and Telecom Infrastructure in Africa
• Meta’s 2Africa subsea cable, a $1 billion investment, is projected to deliver faster internet access to over 3 billion people.
• Facebook’s Express Wi-Fi and Free Basics initiatives aimed to expand digital inclusion for millions across Nigeria, South Africa, and Kenya.
World Bank’s Digital Economy for Africa Initiative
• With a $100 billion goal, this initiative focuses on closing Africa’s internet gap, highlighting that every 10% increase in broadband penetration boosts GDP by approximately 2%.
• Projects like the Mozambique Digital Governance & Economy Project have enabled over 2 million people to access digital services.
The Roadmap to Digital Transformation in Africa
The intersection of finance, technology, and impact investing is key to Africa’s digital transformation. Beyond the long-standing barriers that hindered most economic growth across the continent, her efforts are widening digital access, ensuring individuals in underserved communities tap into global opportunities, build businesses, and create sustainable livelihoods. By leveraging her financial expertise and strategic investment experience, she is committed to mobilizing capital for sustainable and critical digital infrastructure projects that drive long-term economic growth. These experiences shaped her finance and impact investing expertise, positioning her as a key player in Africa’s economic evolution.
With the flow of funding, access to accelerator programs, and technological resources across Africa, entrepreneurs continue to share success stories, contributing to the entire economy. Also, with increased connectivity comes a surge in job creation as digital platforms unlock new markets and industries, from fintech and e-commerce to remote work and AI-driven solutions. Increased markets and industries reduce poverty levels, mitigate crime, and empower millions with the tools to thrive in an increasingly digital world.
The road to Africa’s digital transformation is growing, and with sustained investment and strategic collaboration, she continues to facilitate impact investments in technology and infrastructure. She remains dedicated to closing the digital divide, enhancing economic opportunities, and strengthening global economic stability. By supporting Africa’s digital space, Adebola is fostering innovation, accelerating economic inclusion, and driving GDP growth by 2% in multiple African nations. A digitally empowered workforce translates into increased productivity, higher consumer spending, and greater economic resilience. Moreover, her work reinforces the potential of U.S.-Africa partnerships, positioning Africa as a key player in the global digital economy. Creating more favorable policies encourages foreign direct investments from other investors and development partners looking to venture into emerging economies.
