New €20m East African SME fund to be managed by Goodwell Investments

Oxfam Novib and Goodwell Investments have unveiled a new €20 million fund called Pepea, aimed at supporting early-stage growth companies in East Africa.

The fund will focus on small- and medium-sized enterprises (SMEs) with high impact potential, particularly in the sustainable agriculture, energy, clean mobility and logistics, and waste management sectors. It will be available for investment in Kenya, Uganda, and Ethiopia.

Oxfam Novib has a nearly 30-year history in impact investing. Goodwell Investments will manage Pepea’s day-to-day operations, utilising its local investment managers and the potential for follow-on investments from its other funds.

The fund has concrete impact targets, including expanding female stakeholder involvement, job creation, reducing greenhouse gas emissions, and promoting fairer wages.