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As a pioneering investment firm, Goodwell believes in creating a more inclusive society. That’s why we finance motivated entrepreneurs solving everyday issues within their communities.

Investing in a better future

Since 2006, Goodwell has worked to improve access to high-quality goods and services for low-income populations – starting in India, and now in Africa. We provide private equity to scalable companies in their early growth stage, enabling them to create significant financial and social returns. By investing in financial services, food and agriculture, mobility and logistics, and other companies with high impact potential, we’re building a more inclusive economy, one investment at a time.

Local expertise for greater impact

Goodwell is known for our collaborative, local-led approach. Local entrepreneurs and SMEs have the power to make significant impact within their communities – because they know exactly what’s needed and where the challenges lie. To maximise their potential, these companies need access to growth capital and support for strategy, planning, fundraising, governance and reporting. Our local investment teams deliver proactive business insights and guidance to set our them up for long-term success.

Solid partnerships expand our reach

In addition to Goodwell’s offices in Kenya and South Africa, we work closely with Alitheia Capital to expand our regional expertise and oversee investments in West Africa. Based in Nigeria and led by ‘Tokunboh Ishmael, Alitheia shares Goodwell’s commitment to nurture and unlock the value of small and medium-sized businesses with financial and non-financial support. Since 2009, our joint investment structure has enabled us to build a fast-growing portfolio in our target sectors.


Africa is seeing the same technology innovations that are emerging in developed countries, however, they are used in a unique manner. In Africa, technology is not replacing or assisting existing infrastructure; it is creating the infrastructure where there is none. Brick-and-mortar clinics, schools and grid-powered electricity are not in place across vast swathes of the continent and they will not reach every rural village or urban slum in the future. Instead, these services will be provided more and more through innovative mobile technologies, reducing the need for expensive physical infrastructure.

Essential goods and services

Goodwell invests in companies delivering essential goods and services to people with limited incomes. Not only does this advance our vision of an inclusive economy; serving this population also provides huge opportunities for growth. And investing in necessities like financial services and food and agriculture provides resilience to both market and geo-political shocks.

Collaborative approach

We work side-by-side with the companies we invest in. That means sharing expertise, offering access to our wider network, and delivering practical business support. It also means building lasting relationships: our teams ensure a long runway through multiple follow-on rounds and help secure further growth capital.

Social and financial returns

Our investments deliver proven social results while also offering competitive financial returns. So far, our 36 portfolio companies have reached 30 million households in 72 countries, delivering life-improving essentials like food, energy and financial services. And with our newest funds, that impact will only continue to grow.

“African economies and specifically inclusive businesses that provide essential products are highly resilient and continue to grow, contrary to global developments. Because crisis or not, unmet demand for basic goods and services on the continent will rise for an ever-growing group of underserved users”.

Els Boerhof

Industry awards

Being recognised for our work is always an honour.

Meet the team


Wim van der Beek

Founder and Managing Partner

Els Boerhof

Managing partner

Nico Blaauw

Partner of IR and Marketing and Communications

Investment Team - East Africa

Jennifer Gitonga

Capacity, ESG & Impact Analyst

Lilian Oyando

Associate Partner

Judith Ngonyo

Investment Manager

Bitta Wycliffe

Senior Investment Manager

Anne Ngugi

Senior Investment Manager

Anthony Wainaina

Senior Investment Analyst

Nathan Cheruiyot

Investment Associate

Joshua Mburu

Office Manager - Nairobi

Hiram Githuku

Investment Manager

Titus Mualuko

Investment Analyst

Investment Team - South Africa

Molebogeng Raolane

Senior Investment Manager

Neo Malepe

Junior Investment Associate

Neo Maruatona Ratau

Investment Director - South Africa

Ayodele Ogunnoiki

Senior Investment Associate

Oracle Ningiza

Senior ESG Analyst

Investor Relations

Rakan Dajani

Investor Relations Associate

Yaw Peprah

Investor Relations Manager

Karyn Ivy Munyengeterwa

Investor Relations Associate

Maartje Broeijer

Investor Relations Analyst


Michael Marabini

Legal and Compliance Manager

Hiske Doornekamp

Senior Project Officer

Marti Puig

Operations Analyst

Saskia Power

Office manager

People, Culture and Networks

Amasja Tromp

Director of People, Culture and Networks

Keith Anami

People, Culture & Networks Officer

Marketing and Communications

Liz Keel

Marketing, Communications, and Communities Manager

Kaat Verschuere

Marketing, Communications and Communities Assistant

Annais Hillbrick

Marketing, Communications, and Communities Assistant

Join the team

Goodwell is growing at a steady pace, and we’re looking for talented, motivated professionals to join our team. Are you passionate about making a positive impact and interested in an exciting career in the investment space? We’d love to hear from you.

Our funds

Goodwell has a unique mix of investors: pioneering impact investors, entrepreneurs, foundations, and family offices, as well as development finance institutions, funds-of-funds, banks, pension funds and other institutional investors. We currently have four active funds:

uMunthu II

Raising EUR 150 million to invest in 35+ high-impact companies across Africa.

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Goodwell V

A EUR 50 million feeder fund targeting financial inclusion, agribusiness, and impactful SMEs in Africa.

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Goodwell Impact Belgium II

A EUR 10 million feeder fund targeting financial inclusion, agribusiness, and impactful SMEs in Africa.

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