Duncan Onyango, Acumen East Africa director. PHOTO | FILE
By SIMON CIURI
In Summary
- Social venture fund Acumen has teamed up with Opes Impact Fund, Persistent Energy Capital and Heri Africa to invest undisclosed amounts in Tanzania solar energy firm, Devergy.
- Acumen has also invested in solar energy in Kenya with a product called M-Kopa.
Social venture fund Acumen has teamed up with Opes Impact
Fund, Persistent Energy Capital and Heri Africa to invest undisclosed
amounts in Tanzania solar energy firm, Devergy.
The investors said it has already connected more than 800 households in six villages.
“Acumen is very proud to make its first investment in the energy
sector in Tanzania especially to rural populations, we see Devergy as
the long-term, innovative partner that will provide these much needed
services to Tanzania and the rest of East Africa,” said Duncan Onyango,
Acumen East Africa director.
Acumen has also invested in solar energy in Kenya with a product called M-Kopa.
“Our investment in Devergy reinforces Acumen’s commitment to
tackling poverty through market solutions and highlights the importance
of leveraging innovation to creatively meet the needs of the poor as
they work towards raising their incomes and living standards.”
Low-cost housing
It has 23 active investments in the region, focusing on agriculture, low-cost housing, health, water, sanitation and energy. In 2011, Acumen invested $1.1 million in M-Kopa, a firm that distributes solar lamps that can be bought via mobile phone money transfer services.
It has 23 active investments in the region, focusing on agriculture, low-cost housing, health, water, sanitation and energy. In 2011, Acumen invested $1.1 million in M-Kopa, a firm that distributes solar lamps that can be bought via mobile phone money transfer services.
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