In a significant boost for environmental conservation efforts in Kenya, TerraFund for AFR100 has allocated USD $7.5 million in grants, loans, and equity finance to 36 organizations and enterprises. This funding is part of the second cohort of investments under the TerraFund for AFR100 Landscapes initiative, which focuses on locally led landscape restoration projects across Africa.
The selected organizations in Kenya will be actively involved in rejuvenating three critical landscapes: the Greater Rift Valley of Kenya, the Lake Kivu and Rusizi River Basin spanning Rwanda, Burundi, and the Democratic Republic of Congo, and the Ghana Cocoa Belt. These areas, crucial for providing food and water to millions and safeguarding biodiversity, have suffered from decades of degradation.
Wanjira Mathai, Managing Director for Africa and Global Partnerships at World Resources Institute, emphasized the importance of local efforts in climate action. “In the final analysis, climate action is local. I am delighted TerraFund for AFR100 and partners are mobilizing finance and capacity for restoration champions. We need both scale and speed for the restoration movement in Africa to improve the lives and livelihoods of smallholder farmers, their families, and communities.”
The funding distribution across the region includes USD $3.6 million for 20 champions in Rwanda, USD $2.1 million for 11 organizations in Burundi, USD $1.9 million for 10 projects in the Democratic Republic of Congo, and USD $2.7 million for 15 projects in Ghana.
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These “restoration champions” were carefully chosen from a pool of 601 applications gathered through an open call for proposals. The selected projects aim to plant 4.5 million trees, restore 13,000 hectares of land, create 21,000 temporary and full-time jobs, and benefit 245,000 people living in these regions by 2030.
Andrew Steer, President and CEO of the Bezos Earth Fund, commended the local groups involved, stating, “Local groups are at the heart of Africa’s restoration movement but historically have been viewed as too small or risky for investment. The TerraFund champions are shattering this myth.”
One success story from the TerraFund’s earlier investment in Kenya is GreenPot Enterprises, a bamboo growing and manufacturing company. Co-founder and CEO, Caroline Kariuki, utilized a TerraFund loan to enable hundreds of farmers to grow bamboo. With additional equity investment, the company is set to complete the construction of its factory in Narok, Kenya, turning raw bamboo into marketable products.
TerraFund for AFR100, established in September 2021, has received 3,800 applications to date and has deployed $33 million in grants, loans, and equity investment to 192 landscape restoration projects across 27 African countries. The impact of these investments is meticulously tracked through the TerraMatch platform, using advanced monitoring, reporting, and verification techniques from Land & Carbon Lab.
This initiative, part of the Restore Local project, is a collaboration between World Resources Institute, One Tree Planted, Realize Impact, and Barka Fund, with an anchor investment from the Bezos Earth Fund. The TerraFund for AFR100 Landscapes cohort is supported by financial partners like the Bezos Earth Fund and The Audacious Project. To learn more about TerraFund for AFR100, visit www.africa.terramatch.org.