Dr. Okey Enelamah Receives the 2026 Dr. James I. Cash Advancing Pathways Award at Harvard Business School

Dr. Okey Enelamah, Chairman ACA was awarded the 2026 Dr. James I. Cash Advancing Pathways Award at the 53rd Annual H. Naylor Fitzhugh Conference at Harvard Business School (HBS).

The award, jointly conferred by the Harvard Business School African-American Alumni Association (HBSAAA) and the African American Student Union (AASU), honors an HBS alumnus or faculty member who has demonstrated a sustained commitment to educating, mentoring, and advancing pathways for the next generation of leaders.

This year’s recognition celebrates Okeys professional excellence and exemplary contributions, reflecting a career defined by institution building, mentorship, and expanding economic opportunity.

A Career Built on Creating Pathways

As highlighted in the Harvard Business School publication, Dr. Enelamah’s journey began in medicine before pivoting to finance, a decision that ultimately led to the founding of African Capital Alliance (ACA) in 1997 alongside Richard “Dick” Kramer.

Under his leadership as Co-Founder and CEO (1997–2015), ACA became Nigeria’s first private equity firm, raising over $1.2 billion across four funds and investing in middle-market businesses across technology, financial services, energy, and consumer sectors. One of ACA’s earliest landmark transactions delivered a 44x return on exit from MTN Nigeria, establishing the firm’s reputation for disciplined investment and value creation.

In 2015, Dr. Enelamah was appointed Nigeria’s Minister of Industry, Trade and Investment, where he focused on improving the ease of doing business, attracting investment, and strengthening the enabling environment for private sector growth.

Beyond investing and public service, he has continued to invest in education and leadership development, including founding the Nigerian University of Technology and Management (NUTM), a STEM-focused institution dedicated to preparing the next generation of African leaders and entrepreneurs.

A Recognition That Reflects Our Values

The Dr. James I. Cash Advancing Pathways Award was established to honor individuals who advance opportunity and contribute meaningfully to business and society.

For ACA, this award reflects the enduring values that guide our work:

• Humility in leadership and service
• Excellence in execution and standards
• Integrity in decision-making
• Discipline in capital stewardship
• Contribution to society beyond commercial outcomes

ACA Foundation Launches Ethical Living Project 3.0 for Secondary School Students in Lagos

The ACA Foundation is pleased to announce the launch of the Ethical Living Project 3.0 for 2026, the third edition of its flagship initiative dedicated to promoting integrity, ethical leadership, and social responsibility among Nigerian youth.

Building on the success of previous editions, this year’s programme will engage over 4,000 secondary school students across Lagos State, equipping them with the values, mindset, and practical skills needed to navigate today’s complex world with integrity and purpose.

Through the Ethical Living Project, the Foundation continues its commitment to nurturing a new generation of ethical leaders who will contribute positively to their communities, the nation, and the global society.

ACA Announces Full Divestment from Aradel Holdings PLC

Capital Alliance Private Equity IV Limited (“CAPE IV”), a private equity fund sponsored by leading private equity firm African Capital Alliance Limited (“ACA”), is pleased to announce its full equity divestment from Aradel Holdings PLC (“Aradel” or the “Company”).

Aradel is one of Nigeria’s leading indigenous energy companies, and ACA’s investment in the Company was underpinned by a strong conviction in the growth potential of Nigeria’s indigenous energy sector, particularly the emergence of integrated and resilient energy platforms. Throughout the period of our partnership, ACA has worked alongside the Company’s management to unlock operational and commercial value, enhance governance and support expansion across the energy value chain. ACA’s hands-on value creation efforts combined with Aradel’s robust operational outperformance contributed to deliver a successful investment for CAPE IV.

CAPE IV’s final divestment from Aradel follows the Company’s successful Listing by Introduction on the Nigerian Exchange (NGX) in October 2024. ACA worked closely with Aradel’s board and management on strategic planning, operational discipline, and positioning for capital markets access. The culmination of this work was the successful NGX listing, providing a high-quality exit route for CAPE IV whilst serving to deepen the domestic capital market.

Our full divestment underscores our confidence in Nigerian capital markets and the efficiency of the NGX to execute exits for private equity investors.

Olugbenga Adetoro, ACA Partner & Transaction Lead, commented: “The successful sale of the CAPE IV stake in Aradel, following its successful public listing last year, is a testament to ACA’s disciplined approach to capital deployment, active portfolio management, and well-timed exit execution while creating long-term value for our investees”.

ACA is a leading pan-African investment firm, sponsoring funds and managing portfolio investments across sub-Saharan Africa. Over the last 27 years, ACA has sponsored four CAPE private equity funds, partnering with a diversified pool of domestic and international institutional investors which have committed over $1.2 billion in aggregate capital commitments. ACA’s longstanding experience investing across market cycles has enabled the delivery of significant impact outcomes and attractive returns for our investors.

While CardinalStone Partners Limited and CardinalStone Securities Limited (“CardinalStone”) acted as the exclusive financial adviser and stockbroker respectively on the transaction, Aluko & Oyebode acted as legal adviser to CAPE IV.

ACA Foundation launches Ethical Living Project 2.0 for 2025

The ACA Foundation is excited to announce the launch of the Ethical Living 2.0 project for 2025, our flagship initiative aimed at instilling integrity, leadership, and social responsibility in Nigerian Youth!

This impactful program will reach over 2,000 secondary school students across Lagos State, equipping them with the values and skills necessary to thrive in today’s world.

The Foundation is committed to shaping ethical leaders for a brighter future for the country and beyond —and it all begins with our youth!

Aradel Holdings Plc, has been listed on the NGX

ACA is proud to announce that its portfolio company, Aradel Holdings Plc, has been listed on the NGX. This significant step is a testament to the company’s remarkable growth journey and commitment to innovation and excellence in the energy sector.

Congratulations to the entire Aradel team on this remarkable achievement! ACA is proud to have worked with and supported Aradel on this journey.