Acumen has launched the second iteration of its KawiSafi fund, securing $90 million in approved capital, which includes $40 million in committed funding, to advance climate solutions throughout Africa.
KawiSafi Fund II is designed to tackle key climate challenges across the continent by focusing on:
- Energy Transition: Investing in renewable energy systems that deliver clean power to underserved communities.
- Clean Transportation: Developing sustainable transportation solutions capable of withstanding climate and economic disruptions.
- Clean Cooking: Expanding access to affordable and safe cooking alternatives.
- Nature-Based Carbon Solutions: Unlocking new opportunities for carbon financing.
The fund aims to positively impact 50 million people and prevent 50 million tons of CO₂ emissions at scale.
KawiSafi Fund II has secured support from leading investors, including:
- The Green Climate Fund
- The African Development Bank’s Sustainable Energy Fund for Africa
- The Schmidt Family Foundation
- The Quadrature Climate Foundation
These partnerships underscore growing confidence in Africa’s potential for green innovation and highlight the importance of supporting scalable climate solutions.
Building on the success of the original $67 million KawiSafi Clean Energy Fund launched in 2016, this second fund expands its focus beyond off-grid energy companies to include a broader range of climate and energy sectors.
Amar Inamdar, Managing Director of the KawiSafi funds, highlighted the significance of this capital raise:
“Securing $90 million for the successor KawiSafi fund marks a major milestone and sends a clear signal to the market: capital must, and can, flow toward a more inclusive, low-carbon future.”
João Duarte Cunha of the African Development Bank noted that the fund provides crucial venture and growth capital for African businesses that are advancing energy access. He emphasized that the bank’s backing of this fund aligns with its broader commitment to scaling innovative low-carbon solutions and mobilizing private capital to accelerate Africa’s clean energy transition.
KawiSafi Fund II marks a significant advancement toward creating a low-carbon, climate-resilient, and inclusive economy across Africa. By channeling capital into innovative climate solutions, the fund seeks to create lasting impact and support sustainable development across the continent.
