ESG AND IMPACT REPORT 2022/23

Our Impact: Transforming Africa through Local Capital and Talent

Kuramo Capital’s investment strategy is deeply rooted in Africa’s long-term growth. Through its African strategy, the firm has focused on empowering local talent, creating inclusive economic growth, and strengthening ecosystems that support resilient businesses.

Key Outcomes

  • Jobs Supported:
    • 70,000+ jobs supported cumulatively across portfolio companies.
    • 40% youth employment and 32% female employment within these jobs.
    • 33% of investee companies are women-led or women-founded.
  • Access to Finance:
    • $200M+ in funding provided to African SMEs via fund investments and partnerships.
  • Taxes Paid:
    • Over $100M in taxes paid by investee companies in 2022/2023, supporting local government and services.
  • Environmental Stewardship:
    • Support for circular economy businesses and climate-resilient enterprises (e.g., clean energy, agritech, sustainable waste management).
    • Portfolio ESG Screening: 100% of direct investments undergo ESG screening and monitoring.

Featured Impact Stories:

  • PEG Africa (Energy access): Provided solar home systems to 1M+ households in West Africa.
  • M-KOPA (Financial Inclusion): Enabled 3M+ customers to access credit for smartphones and solar lighting.
  • Twiga Foods (Food Supply Chains): Digitized agricultural supply chains, improving farmer incomes and reducing post-harvest losses.

Investment Approach Highlights:

  • Local Fund Manager Empowerment:
    • 90%+ of capital deployed via African fund managers, enabling local expertise and reducing capital flight.
  • Sector Focus:
    • Financial Services, Agriculture, Health, Education, Renewable Energy, FMCG, and Infrastructure.
  • Sustainable Returns:
    • Dual mandate: financial returns + impact. Kuramo’s portfolio has outperformed benchmarks on both counts over the last decade.
  • Examples of High-Impact Portfolio Companies:
    • Penda Health (Kenya): Affordable, quality healthcare in underserved urban communities.
    • Zola Electric (Tanzania & Côte d’Ivoire): Scalable solar energy solutions for off-grid households.

Our Approach: The 6 P’s ESG & Impact Framework

Kuramo’s proprietary ESG & Impact Framework is built around 6 key pillars (“The 6 P’s”) to guide its decision-making and reporting:

  1. People:

Prioritizing gender and youth employment, health and safety, and fair labor practices.

Highlight: 32% women employees across the portfolio; youth make up 40% of workforce.

  1. Planet:

Promoting environmental sustainability, resource efficiency, and climate risk mitigation.

Highlight: ESG risk ratings monitored regularly; increasing investment in climate-smart businesses.

  1. Prosperity:

Driving economic value through SME support, financial inclusion, and tax contributions.

Highlight: Portfolio companies paid $100M+ in taxes last year; 200K+ SMEs indirectly impacted.

  1. Products:

Ensuring that goods/services from investees address basic needs and enhance quality of life.

Example: Affordable education, clean energy, accessible healthcare.

  1. Policies:

Strong governance, compliance with ESG standards, and anti-corruption safeguards.

Highlight: All fund managers adhere to IFC Performance Standards and Kuramo’s ESG policy.

  1. Partnerships:

Collaborating with DFIs, foundations, and local institutions to scale impact.

Highlight: Co-investment platforms established with African development banks and global DFIs.

Conclusion

Kuramo Capital continues to catalyze long-term, inclusive development in Africa by deploying capital with purpose. Its ESG and impact work is not peripheral—it’s core to its strategy and value creation. The 2022/2023 report underscores a maturing portfolio with measurable progress in environmental, social, and economic outcomes.

Report

Read the full ESG and Impact Report 2022 here:

Download the Report