The United Nations Capital Development Fund (UNCDF), through the Global Fund for Coral Reefs (GFCR), has signed two new financing agreements to scale reef-positive businesses in Kenya, tackling waste pollution and unsustainable fishing while supporting sustainable coastal livelihoods.
The investments support Sanivation and Kumbatia, two Kenyan enterprises reducing pressures on coral reefs through circular economy solutions that cut wastewater pollution and sustainable fisheries that shift effort away from reef-dependent and destructive practices. Both enterprises have established operating models in Kenya, and the new financing is expected to help scale their solutions into additional coastal areas, strengthening benefits for significant marine strongholds and local economies.
“With these investments, the Global Fund for Coral Reef aims to demonstrate that targeted, patient capital can help local enterprises growth while having a positive impact on lowering stressors on the most resilient Kenya’s coral reef”, said Pierre Bardoux, Director of the GFCR in the UNCDF Strategic Fund Unit. “Within GFCR’s investment ecosystem, UNCDF plays a catalytic role by deploying concessional capital and risk- absorbing instruments in higher-risk markets, helping crowd in wider public and private finance to generate sustained impact across livelihoods, local markets, and ecosystems.”
