Advancing an Inclusive Economy: Goodwell’s 2023 Impact Report

Founded on the principle of ‘doing well by doing good’, Goodwell has been working to create an inclusive economy for more than two decades. Have a look at the progress we’ve made in the past year.

Download Goodwell’s 2023 Impact Report

Goodwell is improving access to high-quality goods and services in Africa by supporting local businesses. We take a long-term, sustainable approach, ensuring the ripples of our impact grow and spread. Read our latest impact report to see how we achieved that in 2023.

Download our impact report

Goodwell highlights

Just like the companies we invest in, Goodwell is growing at a rapid pace. In 2023, we continued to expand our team and added a new office in Johannesburg – all while maintaining a strong gender balance and collaborative teams led by regional experts.

Goodwell Offices

Employee overview

Employees Amsterdam

Employees Nairobi

Employees Cape Town & Johannesburg

Employees Lagos

Fund highlights

Through our investments, we improve access to high-quality goods and services across Africa. It’s a strategy that’s good for people, and good for business: we consistently deliver solid returns and successful exits, and attract follow-on investments across our funds.

Fund highlights

uMunthu II – Active

EUR 57 million

First close May 2023

EUR 150 million

Target fund size

13 investments

Since December 2023

Fund highlights

Pepea – Active

Oxfam Novib fund

Managed by Goodwell

EUR 20 million

Fund value

2024

First investment

Fund highlights

uMunthu – Closed

13 Sept 2023

Final investment date

EUR 62.6 million

Fund value

Investments

New portfolio companies welcomed in 2023

Portfolio company highlights

Every company Goodwell invests in has impact at its core. We provide the financial means and expert support to enable them to grow and expand their impact. As of the end of 2023, Goodwell’s 36 portfolio companies have:

Portfolio impact

Portfolio company highlights

39+ million

Households reached

35,000+

Jobs created

African countries reached

Inclusive growth

Supported across Africa

Stronger and secure

Livelihoods for local residents

Strong returns

Delivered to investors

Sector highlights

We invest in the sectors with the greatest potential to deliver sustainable local impact like agriculture, financial services and logistics. By focusing on basic goods and services, our portfolio companies are delivering significant on-the-ground impact: