New Investment: SokoFresh, cold storage solutions and market access for farmers in East Africa.
Summary
Acumen has invested in SokoFresh, which provides smallholder farmers in East Africa with cold-storage solutions and market access to reduce post-harvest losses and guarantee demand for produce. This is Acumens first new investment with its latest energy initiative, PEII+, which is designed to invest early-stage capital in energy businesses that are improving the livelihoods of smallholder farmers and micro-entrepreneurs in India, East Africa, and West Africa.Africas smallholder farmers lose millions of kilograms worth of produce to post-harvest losses every year. Acumens investment aims to support SokoFresh in building out dozens more units, impacting the lives of thousands of farmers.With Acumens support, we can empower more farmers in Kenya and beyond to access fair and transparent markets, increase food security, and ultimately boost their incomes, says SokoFresh CEO Denis Karema. Were thrilled to be working with a partner that shares our mission of using climate-smart solutions to create a sustainable and equitable food system.Acumen is proud to back Sokofresh and their use of renewable energy to combat first-mile post-harvest loss, and improve the livelihoods of smallholder farmers, said Shiru Mwangi, Director, Acumen East Africa. Together with partners, Enviu builds world-changing companies that address social and environmental issues and drive failing markets toward a new normal.