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KCV Clients Receive CO-Financing From KKCF

  • By KCV
  • May 17, 2022

Sunken Limited , Rafode Limited and Hydroponics Africa Limited are among the overall winners of the just concluded Kakuma Kalobeyei Challenge Fund competition.

The Kakuma Kalobeyei Challenge Fund (KKCF) is a program run by the International Finance Corporation implemented together with the Africa Enterprise Challenge Fund, UNHCR and the Turkana County Government. Structured on a 5-year term, the program is tailored to support private sector investment and unlock the economic potential of refugees and their hosts in Turkana County, Kenya.

The business challenge offers incentives to both small and medium-sized enterprises who have the potential to raise income, provide goods and services, create jobs as well as improve the living standards of refugees and the host community in the Kakuma and Kalobeyei.

Sunken was one of the companies that were successful in securing funding through the Private Sector Window (PSW). Based in Nairobi, the company provides green energy solutions to small scale farmers, communities and commercial projects. Their products and services range from solar water pumps, drip irrigation systems and solar home systems. Through the funding from KKCF, the company is set to scale production and distribution of energy-saving cooking stoves within the Kakuma and Kalobeyei area, hence spurring creation of jobs to the residents especially women and youth as well as reducing indoor smoke and resultant respiratory illness. Through this fund, the company is expected to directly impact 75,000 people and support 100 SMEs.

RAFODE Limited also earned their win under the Private Sector Window. Based in Kisumu, the micro-finance company provides financial services and renewable energy products to low-income rural communities across the country. Their products and services include: group loans, individual business loans, asset loans, masomo loans and reliable partnership in renewable energy. Through the KKCF funding, the company will expand their services to Kakuma and Kalobeyei Settlement Schemes to improve access to affordable financial services and quality renewable quality products.

Hydroponics Africa has secured funding through the Social Enterprise Window (SEW) of KKCF. The company is also based in Nairobi and serves as the pioneer initiator of hydroponic farming technology in East and Central Africa, specializing in design, manufacture, installation and sale of customized hydroponic food and livestock fodder systems which are simplified and cost-effective.

This technology delivers value through less water usage, reduced labor and land requirements, as well as increased crop yield. Their systems include hydroponic food crop systems, hydroponic fodder systems, plant responsive systems and aquaponic systems. They also offer services like consultation and installation. Through the KKCF funding, the company is setting up a centralized hydroponic farm which will be used for production, training and value addition. The company is expected to produce 720,000 kgs of fresh farm produce and 188,000 kgs of livestock fodder annually, as well as training 1,000 people.

Kenya Climate Ventures seeks to accelerate the development of climate smart solutions by providing tailored and targeted financial and managerial support to innovative early and growth stage businesses.