At Kenya Climate Ventures (KCV), we are committed to driving sustainable market transformation through impact-driven investments. Our mission is to invest in, de-risk, and scale early-stage, climate-smart, and gender-inclusive enterprises that are transforming underserved and emerging markets. By providing patient capital and strategic support, we enable these enterprises to overcome barriers to market entry and accelerate their growth trajectory.
This series, Impact in Action, highlights KCV’s high-impact investment portfolio and showcases our commitment to generating financial returns alongside measurable social and environmental impact. By sharing these success stories, we aim to illustrate how impact investing can create long-term value for businesses and communities while addressing critical climate challenges.
KCV takes a partnership approach to investing equity, debt, and convertible notes, packaged with business growth support, tailored to the unique needs of early-stage businesses. Our investment strategy is designed to de-risk ventures and position them to attract follow-on capital from mainstream investors, thereby creating a multiplier effect in driving sustainable growth.
Our Scope of Investment: We strategically invest in high-growth sectors aligned with key Sustainable Development Goals (SDGs):
- Water – advancing SDG 6: Clean Water and Sanitation, supporting enterprises with scalable solutions for water access and purification.
- Waste and Circularity – driving SDG 12: Responsible Consumption and Production, promoting business models rooted in the circular economy and waste management.
- Renewable Energy – unlocking opportunities in SDG 7: Affordable and Clean Energy, through ventures that deliver cost-effective, clean energy alternatives.
- Commercial Forestry – contributing to SDG 15: Life on Land, by investing in sustainable forestry and agroforestry projects that boost carbon sequestration.
- Agribusiness – supporting SDG 2: Zero Hunger, through climate-resilient agricultural practices and innovations that enhance food security.
As a gender-lens investor, KCV prioritizes enterprises that promote gender equality, recognizing the vital role women-led businesses play in advancing inclusive economic growth.
Case Study: Rafode Ltd – Empowering Rural Communities through Renewable Energy
At Kenya Climate Ventures (KCV), we are proud to highlight Rafode Ltd, one of our transformative portfolio companies. Rafode Ltd is a non-deposit-taking financial services provider that offers tailored financing solutions for renewable energy products and microloans for retail agro-traders. The company works primarily with rural low-income earners in Kenya, with the objective of increasing access to clean energy products for households and micro, small, and medium enterprises (MSMEs).
Rafode sources a range of solar home systems, energy-efficient cookstoves (such as the Jikokoa cookstove), and productive-use renewable energy equipment, including solar-powered chest freezers. These products are offered to customers on credit, with the unique model of group co-guarantees, enabling even the most financially underserved households to access modern energy technologies. By bridging the financing gap for clean energy solutions, Rafode has significantly contributed to Kenya’s efforts to achieve SDG 7: Affordable and Clean Energy.
Impact Highlights (as of December 2023):
- 71 Direct Jobs created of which 48% are women and 52% are men, with 41 youth employed.
- 1,857 households benefiting from access to clean energy products or as suppliers of raw materials for the products.
- Renewable Energy Products provided include solar home systems and energy-efficient cookstoves, which have reduced the reliance on traditional, inefficient energy sources.
Rafode’s operations go beyond simply providing products—they are enabling rural households to experience the benefits of modern energy, including improved health outcomes due to reduced indoor air pollution from traditional cookstoves, and increased economic opportunities by lowering energy costs and supporting small businesses with solar-powered productive-use equipment.
By investing in Rafode, KCV is contributing to climate-smart, gender-inclusive, and youth-focused economic development in Kenya’s most underserved areas. Through Rafode’s innovative financing model, households that were previously excluded from accessing renewable energy now have a pathway to a cleaner, more sustainable future.
KCV’s Commitment to Sustainable Investment
Rafode’s success exemplifies KCV’s mission to invest in early-stage climate-smart enterprises that deliver both optimal commercial returns and measurable social and environmental impact. Our investment in Rafode aligns with our broader strategy of supporting businesses that address critical needs in accelerated access to clean energy for domestic and productive use in underserved markets, and we are excited to continue fueling enterprises that transform communities, institutions and markets.
For more information about Rafode check this link Rafode – Changing Lives
