Uplifting the next generation of

East Africa entrepeneurs

Uplifting the next generation of

East Africa entrepeneurs

Pepea: The new fund for impact entrepreneurs in East Africa

We are proud to announce a new 10-year, EUR 20 million fund by Oxfam Novib Impact Investments: Pepea. Staying true to the Swahili word that gives the fund its name, Pepea aims to enable early-stage growth companies in East Africa to ‘take off’ and ‘flourish’. 


By investing in SMEs with high impact potential, this fund supports the growth of a greener, fairer, more inclusive society, and directly contributes to UN’s Sustainable Development Goals for gender equality and climate action. 

Partnering to change the impact investing landscape

Oxfam Novib and Goodwell Investments both have a long history of funding impact-driven SMEs. The two organizations are now joining forces to build upon each other’s strengths and expertise. To provide iSMEs sufficient access to impact investors, Oxfam Novib has made EUR 20 million available for investment in Kenya, Uganda, and Ethiopia. Goodwell Investments will manage the fund’s day-to-day operations from their office in Kenya, providing in-depth knowledge of the investment landscape in the region and the potential to create a runway for future investments. 

Investing in businesses, creating a more equitable future

Pepea is investing in East African companies in the agriculture, energy, mobility and logistics, and waste management sectors, because communities with lower incomes often pay a premium for these types of basic goods and services. To make essentials like these more accessible and affordable, Pepea’s iSME investments will focus on innovative, early growth stage businesses that contribute to a more human economy, which is fair, green and inclusive.  


By investing in companies with green business practices and/or products, Pepea contributes to a positive environmental impact which benefits the entire planet. The fund aims to reduce the average percentage of greenhouse gas emissions across all investments and tries to promote circular business principles.  


Pepea will invest in the growth of a more inclusive economy by supporting fairer practices which benefit employees, suppliers/employers, and customers. One of the goals is to create hundreds of new jobs and to facilitate living wages in line with inflation for key stakeholders across the fund.  


Investing in women facilitates a more inclusive and equal SME ecosystem. Research shows that there is a direct relationship between women in senior management positions and decent working conditions. That’s why Pepea aims to grow the percentage of female stakeholders and senior management across the fund’s investments.  

Our goals: Prioritizing social and environmental impact


Total fund value

Countries: Kenya, Uganda, Ethiopia

Sectors: agriculture, energy, mobility and logistics, waste management

Supports SDGs

Supports SDGs

Increase in key female stakeholders

Create new full-time jobs

Reduce greenhouse gas emissions

Apply for funding

Contact Anne Ngugi to learn more about the application process