Two Netherlands-based organizations, the NGO Oxfam Novib and for-profit Goodwell Investments recently partnered to create Pepea Fund, with EUR 20 million (USD 22.8 million) from Oxfam Novib to support small and medium-sized enterprises (SMEs) in Kenya, Ethiopia and Uganda. Goodwell Investments will manage the daily operations of the fund, which is to target the “sustainable agriculture, energy, clean mobility and logistics, and waste management sectors.”
Founded in 1956, Oxfam Novib is a humanitarian organization that primarily operates in Africa and Asia. Its activities include investing in microfinance institutions (MFIs), distributing humanitarian aid and promoting environmental policies. As of March 2021, the NGO reported EUR 173 million (USD 190 million) in expenditures and a 2.6 percent return on investments for the fiscal year.
Oxfam Novib is affiliated with Oxfam International, an NGO headquartered in Kenya and also registered in the Netherlands. Oxfam International has 21 affiliates that work in approximately 80 countries. As of March 2022, the NGO employed 265 staff members.
Goodwell Investments is active primarily in agribusiness and companies serving people with low incomes in Sub-Saharan Africa. Goodwell manages 36 investments valued at a total of EUR 310 million (USD 341 million). The organization has offices in Kenya, the Netherlands, Nigeria and South Africa.
By Rohit Dayanand, Research Associate
Sources and Additional Resources
Goodwell press release
https://www.goodwell.nl/news/oxfam-novib-partners-with-goodwell-investments-in-a-eur-20-million-fund-to-support-east-african-smes/
Oxfam Novib homepage
https://www.oxfamnovib.nl/
Oxfam Novib 2020-2021 financial report
https://www.oxfamnovib.nl/Files/rapporten/2021/Jaarverslag/Oxfam-Novib-Annual-Accounts_2020_2021.pdf
Oxfam International homepage
https://www.oxfam.org/
Oxfam International 2022 impact report
https://oi-files-d8-prod.s3.eu-west-2.amazonaws.com/s3fs-public/2023-02/OXFAM%2021_22%20Annual%20Report%20FINAL.pdf
Goodwell homepage
https://goodwell.nl/
Previous MicroCapital story on Goodwell
https://www.microcapital.org/microcapital-brief-south-africas-mfs-africa-lands-14m-in-equity-from-equator-capitals-shorecap-iii-fund-fsd-africa-goodwell-investments-lun-partners-to-boost-mobile-financial-se/
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