NAIROBI, Kenya – Acumen, a leading global impact investment firm, has announced significant leadership changes and a fresh wave of investments aimed at empowering local entrepreneurs and expanding its reach in the region.
Acumen’s New York head office has revealed the appointment of Chris Maranga, formerly of the Danish Development Finance Institution’s Investment Fund for Developing Countries (IFU), as the new East Africa Director.
Maranga’s role will focus on spearheading Acumen’s impact investing programs in East Africa, with a particular emphasis on climate-related and agricultural ventures.
His leadership is expected to enhance the Acumen Academy and extend the firm’s influence beyond the 123 million lives it has already impacted over the past two decades.
In support of this new phase, Acumen has unveiled the Sh32.5 billion ($250 million) Hardest-to-Reach Initiative.
This initiative aims to deepen energy access in East Africa by funding entrepreneurs in off-grid solar and clean energy infrastructure businesses, thereby extending energy solutions to both rural and urban households.
Acumen’s commitment to climate impact is further demonstrated through its two dedicated funds, KawiSafi Ventures and the Acumen Resilient Agriculture Fund.
Together, these funds have raised Sh17 billion ($136 million) to support clean energy and resilient agricultural projects across the region.
In total, Acumen has secured approximately Sh50 billion for its impact investment programs throughout Africa.
“Acumen is dedicated to driving social change, and our mission here is to enhance the lives of millions of East Africans by empowering local entrepreneurs who currently lack access to the capital and support they need to scale their businesses successfully,” said Chris Maranga, Acumen’s newly appointed East Africa Director.
Maranga emphasized Acumen’s strategy of investing in innovative social business models that address critical issues, which traditional investors often overlook.
Since 2008, Acumen East Africa has invested Sh6 billion in 43 companies focused on climate-resilient agriculture, clean energy, and education.
Notable investments include Ampersand, BURN Manufacturing, d.light, and Ethiochicken (part of Hatch Africa).
Jacqueline Novogratz, Founder and CEO of Acumen, expressed excitement about Maranga’s appointment and the future of Acumen’s initiatives in East Africa.
“We are thrilled to welcome Chris Maranga as the new director of the Acumen East Africa team. Acumen is at an inflection point with its patient investments scaling, supported by a series of for-profit impact funds. The Acumen Academy is also growing, as is our impact, amid the challenges East Africa faces,” she said.
