Building Bridges’ mission is to strengthen partnerships between diverse communities in order to transition to a more sustainable economic system. In April 2023, our team traveled to Kenya to learn more about the impact investing community in Nairobi, and exchange with financial actors who are implementing new innovative services to support the Sustainable Development Goals.
Developing economies in Africa are directly affected by the negative impacts of climate change. Kenya’s economy is highly dependent on natural resources, which creates long-term risks for companies and financial institutions. To adapt to the climate crisis, Nairobi’s dynamic ecosystem has been implementing innovative approaches that promote the use of renewable energy, re-imagine agriculture practices, and improve access to water.
Emerging markets have a key role to play to enable a strong financial system that positively impacts the environment, the planet and its inhabitants. Nairobi’s impact investing hub offers immense opportunities to innovate our economic system. Climate degradation has encouraged the development of new initiatives that re-imagine our economic, social, digital and health systems. Kenya is one of the top providers of sustainable finance in Africa, using instruments such as green bonds to unlock capital for inclusive projects. Kenya’s fast-growing economy offers strong opportunities to develop alternative industries, and expand the interest of private and institutional green investors.
With the collaboration of the Swiss Embassy in Nairobi, and the UN mission in Kenya, Building Bridges learned from the experience of the Founder of Equity Group, James Mwangi, who has been supporting young people, women and entrepreneurs in Kenya by availing modern and inclusive financial services. Equity Group has been leading the sustainable transition in the country and transforming people’s lives across Africa by providing access to funding and stimulating job creation.
Our team also met inspiring startups and companies such as Mr Green Africa that is revolutionizing waste management, and BasiGo that is re-imagining public transportation by providing cost-effective electric alternatives to diesel buses. Electric buses considerably reduce costs and emissions, and can significantly improve air quality in a country where air pollution is responsible for 1 in 5 premature deaths.
© Images by Augustine Karani