Tuesday, November 12, 2024

Kenya’s DOB Equity shifts focus to sustainability under new leadership

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The news: 

  • DOB Equity, a family-backed impact investment firm based in Kenya and the Netherlands, is reorienting its investment strategy under its newly appointed CEO, Karen Serem Waithaka. 
  • This strategic pivot aims to address critical sustainability challenges in East Africa, reflecting Waithaka’s vision to enhance resilience in the region through impact-driven investments.
  • Waithaka’s appointment marks a significant step for DOB Equity as it transitions from a broad-based investment approach to a more focused strategy targeting sustainable food systems, renewable energy, and water sanitation.

These sectors are seen as key to addressing the region’s most pressing infrastructural and climate-related challenges.

Waithaka, who took over as CEO, brings more than 15 years of experience in the financial sector, including her most recent role as Chief Investment Officer at Catalyst Fund

DOB Equity has built a diverse portfolio of over 30 companies across various sectors, including logistics and eCommerce. 

However, under the previous leadership of Co-CEOs Saskia van der Mast and Hayo Afman, the firm faced challenges with some of its investments, such as the closure of logistics startup Sendy and financial difficulties at Copia, an eCommerce platform. 

These setbacks highlighted the volatility of emerging markets and the need for a more resilient and sustainable investment strategy. Waithaka’s leadership comes at a pivotal time for DOB Equity. 

“The new strategy aims to address some of the continent’s most pressing needs,” she explained. “We are focusing on providing patient capital to businesses that offer solutions to infrastructure gaps and climate change, ensuring that we contribute to sustainable development in East Africa.” 

This approach aims to mitigate risks while creating long-term value for investors and communities.

The challenges facing businesses in East Africa are multifaceted, from infrastructure deficits and funding gaps to regulatory hurdles and limited regional integration. However, by narrowing its focus on companies that address these issues, DOB Equity hopes to foster sustainable business growth while contributing to community resilience.

Waithaka’s vision aligns with DOB Equity’s long-standing commitment to impact investing. “Our impact thesis continues to be the core driver of our investment strategy,” she noted. “We invest in companies providing solutions that enable communities to become more sustainable and resilient, ensuring these businesses’ long-term viability.”

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The firm’s pivot towards sustainable food systems, renewable energy, and water sanitation is expected to draw attention from stakeholders. 

The outcome of this new strategy will be closely monitored as Waithaka works to restore investor confidence and reaffirm the firm’s commitment to impactful investments.




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