KawiSafi Ventures, a $100m private equity impact fund, has launched operations with its first investment in Bboxx (read here).
Anchored by Green Climate Fund, KawiSafi Ventures focuses on the off-grid energy sector in East Africa to provide universal access to energy to people located beyond the foreseeable grid connection and at the bottom of the economic pyramid.
Lack of electricity and high kerosene use will be addressed through affordable clean household solar energy solutions such as solar lanterns, solar home system and solar mini-grids (60-70% of investments) while the construction of the build-out parts of the eco-system, including consumer financing vehicles, mobile payment and remote monitoring / meter technologies, and working capital facilities will receive a 30-40% of the fund.
Managed by Acumen, the fund initially focuses on Rwanda and Kenya, but may also expand to other East African countries such as Uganda, seeking to invest in 10 – 15 companies.
FinSMEs
30/08/2016