Oikocredit will invest USD 26.5 million towards renewable energy infrastructure in sub-Saharan African communities over the next four years. The funds will go towards energy generating assets and productive use equipment.

The investment was made public at the Clinton Global Initiative 2023 Meeting in New York recently.

Oikocredit hopes to create a positive impact in two ways. Financing the procurement, construction and maintenance of distributed renewable energy infrastructure will ensure more people, businesses and communities have access to electricity. Such infrastructure includes generation and distribution assets, including mini-grids and other off-grid solar solutions.

Responding to Kenya’s and Uganda’s rural and peri-urban populations’ lack of access to safe drinking water, sanitation and hygiene (WASH) services, Oikocredit and Aqua for All are partnering with Sidian Bank (Kenya) and savings and credit cooperative EBO  (Uganda). Oikocredit will provide US$ 2 million in Kenya and US$ 160,000 in Uganda to finance private-sector-led community WASH initiatives. Aqua for All will contribute technical assistance and training grants, first-loss capital and performance-based incentives. 

With Oikocredit's support, RDG Collective will be able to offer an estimated 12,500 low-income Zambians both access to clean energy and a path to ownership of off-grid solar products that can be extended to fit users' growing energy needs. Access to renewable electricity and productive-use-of-energy (PUE) appliances will support households in improving their living standards, increasing their earning potential and achieving lives of greater dignity.

 With few notable scandals in recent years causing mistrust and concern among investors around the accuracy of environmental, social or governance (ESG) claims, Desjardins is encouraging building trust through communication.

The Responsible Investment Association found that concern about greenwashing is the biggest obstacle to the growth of responsible investment (RI). It is crucial that industry actors take steps to be as clear and accurate as possible in their ESG claims. An important question to consider is “how can we build trust?

Please join CAFIID on November 28, 2023 to hear from Mike McCreless, Executive Director of Impact Frontiers, on how investors can integrate social and environmental impact with financial performance analysis to improve both!

Investors are increasingly interested in measuring the impact of their investments. This event will explore some impact measurement and management (IMM) best practices and approaches.

Oikocredit published its Annual Report and financial statements for 2022, reporting on solid financial and social results and other achievements during the year.