Friday, July 18, 2008

Acumen Fund invests US$ 757,000 in Kenyan Eco-Business

Acumen East Africa fund this month made the disbursement to EcoTact a business led by David Kuria a Kenyan entrepreneur. Ecotact builds high quality, pay-per-use toilet and shower facilities on public land in urban centres. From it's website, Ecotact says:
Ecotact is a Nairobi-based company that aims to improve the urban landscape for low-income communities through environmentally responsible projects in sanitation and housing.
Under the Ikotoilet project, Ecotact builds and operates high-quality, public, pay-per-use toilet and shower facilities on public land in urban centers. Ecotact uses a Build-Operate-Transfer model of public-private partnership, entering into long-term contracts with municipalities to secure use of public lands.
In exchange for use of public land, the company agrees to bear all facility construction costs but relinquishes ultimate ownership of the facilities to the municipalities. The contracts give Ecotact the right to operate the toilet and shower facilities for a certain number of years and charge user feeds. The company hires staff to operate and clean the units after each use, and complements the sanitation offerings with other revenue-generating products such as shoeshine services, soft drink sales and newspaper sales.
It is very impressive to note the steady progress that this fund is making in terms of disbursement of funds to support entrepreneurs who are driving businesses that have a direct impact on the lives and livelihoods of Kenyans.

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