March 9

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.

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Photo courtesy of UNDP Kenya.

Source: Aspen Institute (link opens in a new window)

Agriculture, Transportation, WASH
business development, renewable energy, tourism, transportation