Nairobi, Jan. 14 -- International Finance Corporation (IFC) plans to make an equity investment of up to $30 million (Sh3.87 billion) in a pan-African private equity fund focused on small and medium sized enterprises in markets such as Kenya.

The amount will be invested in Adenia Entrepreneurial Fund I (AEF I), which is headquartered in Mauritius and has five regional offices covering Kenya, Madagascar, Morocco, Nigeria and South Africa.

IFC said it is also ready to co-invest with the fund to the tune of $20 million (Sh2.58 billion) where the asset manager will be in charge of running the portfolio.

The commitments will offer a boost to the fund, which is targeting to raise between $150 million (Sh19.35 billion and $180 million (Sh23.2 ...