Traditional private equity and debt fund models, which have been successful in developed markets, can struggle to deliver target returns for investors on traditional timeframes in frontier markets. Permanent capital vehicles (PCVs) offer an alternative. They enable investors to support transformative businesses – including those working in climate adaptation, resilient infrastructure and urbanisation – that are often overlooked by time-bound funds.

Small and growing businesses are the backbone of economies in frontier markets across Africa. Despite this, they struggle to access the funding they need to grow. Our latest Foundations of Growth publication shares the experiences of two organisations helping to address the funding gap.

Zvilo, a working capital lender, is partnering with So Pure to support the scale of treatment and distribution of safe drinking water across Sierra Leone.  The investment follows support from ARIA and our partners.

ARIA is proud to announce a new strategic partnership with PROPARCO, the private sector financing arm of the Agence française de développement Group (AFD Group). PROPARCO joins the platform as a funding partner alongside British International Investment (BII), the UK’s development finance institution and impact investor, and FMO, the Dutch entrepreneurial development bank.

We have signed a Memorandum of Understanding (MoU) with the British Embassy Addis Ababa.

This publication – the fifth in our Foundations of Growth series – highlights opportunities and approaches for development finance institutions (DFIs) and impact investors to contribute to the financial sector in frontier markets and support economic growth.  

ARIA’s Surafel Kelemework analyses the launch of the Ethiopian Securities Exchange and discusses its potential impact on the economy.

ARIA supports British International Investment’s $7 million investment in battery swapping business MOPO, based in the Democratic Republic of Congo.

A new publication from the Africa Resilience Investment Accelerator (ARIA), part of the Foundations of Growth series, explores case studies of successful collaboration between donors and development finance institutions.

A new publication from the Africa Resilience Investment Accelerator (ARIA), part of the Foundations of Growth series, on the case for DFI and donor collaboration in frontier markets

A new publication from the Africa Resilience Investment Accelerator (ARIA) covers the opportunities of investing in frontier markets across Africa.

A new publication from the Africa Resilience Investment Accelerator (ARIA) covers how development finance institutions are investing in frontier markets in Africa, the lessons they’re learning and approaches for fostering greater investment in the future.

​We're delighted to have received the ‘Ecosystem Enabler’ Award at the AVCA Conference Awards 2024. The award recognises organisations ‘advocating for private capital in Africa and driving impactful engagement’.

Through a collaboration between IFC and EIB-, the Africa Resilience Investment Accelerator (ARIA) published a report in March 2023 to share the importance of conflict sensitivity for the private sector and how it can be applied at programme level.

A year ago, ARIA was just an idea, and its member DFIs were wondering how to get started on ARIA's goal of collaborating towards an increased investment footprint in frontier markets. 2022 ended up being a packed year with numerous collective achievements. We are looking forward to seeing what 2023 brings!

This report explores examples of collaboration and better understand the drivers of – as well as the barriers to – effective relationships between DFIs and the broader private sector development community.

The Africa Resilience Investment Accelerator (ARIA) aims to unlock investment in fragile states through collective influence and by pooling expertise to overcome the challenges of providing capital in these countries.