Press Release: ANDE Releases New Study Showing Green Entrepreneurship in Kenya Offers $122.7 Billion Market Opportunity for Small Businesses
The Aspen Network of Development Entrepreneurs (ANDE) today released a new research study, with support from the IKEA Foundation, showing green entrepreneurship in Kenya across nine sectors offers a US $122.7 billion market opportunity for small businesses. Sectors covered include energy efficiency & storage, renewable energy, cleaner fuels, sustainable agriculture and aquaculture, sustainable forestry, ecotourism, sustainable transportation, water management, waste management and circular economy, green buildings, and disaster management.
While market opportunities in the renewable energy sector, sustainable agriculture and aquaculture are already known, a key insight highlighted the $54 billion market potential for waste management and circular economy sectors by 2030, with the water management sector offering over US $22 billion in potential. However, the green entrepreneurial ecosystem in Kenya remains heavily influenced by international players, with about half of support organizations, including 70% of finance providers, being headquartered outside of Kenya, so the report highlights a need for strengthening local capital provision and technical assistance as well as more focus on ecotourism and disaster management.
Access to finance remains the primary challenge across the sectors covered according to entrepreneurs and support providers interviewed for the study, particularly regarding a lack of investor confidence in business models with new technology or those that are new to the Kenyan market.
To learn more, go to:
- Building the Green Economy: Trends and Opportunities for Green Entrepreneurship in Kenya Report – the primary research study details trends in green entrepreneurship in Kenya, case studies of successful ventures, market size projections, and deep dives into specific sectors.
- Kenya Green Entrepreneurial Ecosystem Snapshot Report – a mapping tool which identified 176 organizations supporting green entrepreneurship in Kenya and examines ecosystem characteristics and gaps in support.
- Kenya Green Entrepreneurial Ecosystem Snapshot Website – a filterable directory of all 176 organizations identified in the report, as well as interactive visualizations.
Photo courtesy of UNDP Kenya.
Source: Aspen Institute (link opens in a new window)
- Agriculture, Transportation, WASH