Research-led consulting firm Krutham has announced the winners of the third edition of the Africa Impact Investment Awards, sponsored by FirstRand.

Krutham says this year’s winners demonstrate how bold ideas, blended capital and purpose-driven leadership are transforming development finance across Africa, from unlocking climate financing through AI to expanding access to capital for rural women entrepreneurs and scaling clean energy solutions for low-income communities.

“The world cannot be changed without investment,” says Krutham executive chairperson Dr Stuart Theobald.

“These awards shine a light on the pioneers demonstrating that investing in people, planet and purpose can also unlock new paths to financial return. Their work proves that Africa can lead the way in redefining how capital delivers inclusive prosperity.”

As countries across the continent face budget constraints and shrinking aid flows, impact investing is emerging as a powerful and necessary financing tool.

In 2022, Krutham notes, Africa attracted an estimated $2.51-billion in impact investments, accounting for 12% of global flows.

Yet this represents just a fraction of the continent’s needs: $1.3-trillion a year is required to meet the Sustainable Development Goals, according to the United Nations Development Programme.

Held during the Africa Impact Summit in Accra, Ghana, the 2025 Africa Impact Investment Awards recognised outstanding individuals and organisations whose work exemplifies the principles of intentional, measurable and scalable impact investing.

Krutham says this year’s winners stood out among a highly competitive field of 64 nominations evaluated by a panel of 11 judges representing leading institutions from across the continent’s impact ecosystem.

The 2025 Africa Impact Investment Awards winners are:

• Impact Funder of the Year: Nithio for its innovative use of AI and geospatial data to assess credit risk and channel catalytic capital to clean energy small and medium-sized enterprises (SMEs) through its FAIR platform.
• Impact Fund of the Year: KawiSafi Ventures recognised for exceeding impact targets while reaching 213-million people with clean energy solutions and averting 45-million tonnes of CO₂.
• Financial Structure of the Year: Acre Impact Capital for pioneering the use of export credit agency-backed finance to crowd in private capital for infrastructure projects.
• Impact Intermediary of the Year: Edge Growth for delivering customised enterprise and supplier development support to black-owned SMEs in South Africa, with a track record of job creation and sustained business growth.
• Impact Enterprise of the Year: Cherehani Africa honoured for its technology-driven approach to supporting over 30 000 rural women entrepreneurs with access to credit and financial literacy, positively impacting more than 130 000 lives.
• Trailblazer of the Year: Evelyn Castle celebrated for her cross-sector leadership in healthcare, impact investing, and gender equity. Evelyn's ventures have raised over $250-million to date and continue to champion women-led impact enterprises across Africa.
• Special Judges' Award: AfriFORTIFIED acknowledged for its standout work in food innovation and early-stage support to help SMEs bring nutrient-dense products to market, addressing both malnutrition and market barriers in Kenya's food economy.

“This year’s winners are building a future where capital serves people, not the other way around,” says judge Simunza Muyangana from the National Advisory Board for Impact Investment (NABII) Zambia from the Impact Investing Institute.

“We saw vision, rigour and courage. These leaders are not just funding change; they’re building the future of finance itself.”

Krutham says impact investing is not only growing in volume but also diversifying across sectors such as clean energy, agriculture, education and healthcare, where returns are measured not just in profits, but in lives improved, jobs created and emissions averted.

Another major trend is the rise in cross-border collaboration, pointing to a stronger, more connected investment environment.

“The real breakthrough lies in intentional, well-structured investments tailored to Africa’s realities – ones that prioritise measurable, lasting outcomes,” adds Theobald.

These awards are not only a celebration of excellence but also a call to action, says Krutham.

They spotlight the local entrepreneurs, investors and ecosystem builders who are creating scalable solutions to Africa’s most pressing development challenges – and invite others to join them.

“Impact investing is not just about bridging financing gaps. It’s about reimagining how we define success, how we build economies, and who benefits from growth,” Theobald concludes.