By BRIAN NGUGIMore by this AuthorNew York-based non-profit venture capitalist Acumen Fund said Wednesday it plans to invest $70 million (about Sh7 billion) to boost energy access for low-income populations in Kenya and other East African countries. The funds will be channeled to its partners through its fund, KawiSafi Ventures. “After investing $22 million (Sh2.2 billion) of patient, philanthropic capital across the off-grid ecosystem and impacting 81 million lives, Acumen saw an opportunity to drive energy access for millions of low-income people in East Africa and scale the clean energy sector,” it said in a statement. “Acumen’s investing experience has shown us that Africa has a unique opportunity to solve its energy problem,” said Jacqueline Novogratz, Founder and CEO of Acumen. “By building scalable solutions that can bring power to low-income communities that have lived without electricity for too long, we can create a seismic shift in off-grid energy, releasing immense levels of human productivity and minimising impact on the environment.”

Source: Daily Nation April 18, 2019 18:45 UTC