Acraea acerata, the Falls Acraea or Small Yellow-banded Acraea, is a butterfly in the Nymphalidae family. It is found in Guinea, Sierra Leone, Liberia, Ivory Coast, Ghana, Togo, Benin, Nigeria, Cameroon, the Republic of Congo, the Democratic Republic of Congo, Sudan, Rwanda, Kenya, Tanzania, Zambia, Angola, Mozambique, north-western Zimbabwe, northern Botswana and northern Namibia. The habitat consists of disturbed areas in the forest zone, usually near water or in riverine bush. Both sexes show colour and pattern variation.