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.
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.
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.
€20m
Total fund value
Countries: Kenya, Uganda, Ethiopia
Sectors: agriculture, energy, mobility and logistics, waste management
Increase in key female stakeholders
Create new full-time jobs
Reduce greenhouse gas emissions
Contact Anne Ngugi to learn more about the application process