Oxfam Novib Impact Investments


What is Oxfam Novib Impact Investments?

Oxfam Novib believes that Impact investments are critical in creating inclusive, sustainable and fair economies that tackle poverty and inequality.  Through strategic investments in impactful entrepreneurs and providing climate risk finance to Micro Finance Institutions (MFIs), Oxfam Novib is dedicated to fostering sustainable businesses in developing countries.

With approximately 70 million euros, Oxfam Novib Impact Investments focuses on supporting vulnerable groups, specifically rural entrepreneurs and small-scale food producers affected by the consequences of climate change.

Oxfam Novib has been investing in improving the financial sector in developing countries since the 1970s, with a focus on delivering financial services to people living in vulnerability, particularly women, as a means to poverty reduction. In 1996-1997, Oxfam Novib formulated and adopted an inclusive finance approach to support starting and expanding microfinance institutions (MFIs).One year later, our first impact investment fund was born, the Oxfam Novib Fund. Since its establishment in 1998, Oxfam Novib Fund has been leading the way in promoting systemic change.

Nowadays, we promote climate resilience, impact entrepreneurship, and facilitate access to fair and  financial services through the Oxfam Novib Fund and the Pepea fund.

Our investment principles

Oxfam Novib Investments is guided by the principles of green, fair and inclusion.


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With our investments we want to promote climate resilience and circular business principles. We enable access to financial services before, during and after climate shocks. We invest in companies with green business practices and/or products.


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With our investments we support fairer practices of Micro Finance Institutions and impact-driven entrepreneurs. We make sure that all our investments comply with the global best practices on responsible investments. 

Learn more about our investment practices and policies


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With our investments we want to promote the financial inclusion of women, rural communities and small-scale agricultural producers. We aim to grow the percentage of female stakeholders across our investments.

Current Funds

We have two ongoing investments - Oxfam Novib Fund and Pepea Fund.

Pepea Fund


In April 2023, Pepea Fund was launched in collaboration with our partner, Goodwell. With a dedicated commitment of EUR 20 million for the next decade, Pepea Fund embodies its Swahili namesake, signifying the investment fund's mission to empower the upcoming generation of impact-driven small and medium sized businesses (SMEs) in East Africa – particularly Kenya, Uganda, and Ethiopia. The fund invests in sectors where it can have a large positive or mitigating impact on climate change, namely agriculture, energy and mobility & logistics and waste management.

Learn more about our funds

Oxfam Novib Fund

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Valued at 44 million euros and overseen by our  partner, Triple Jump, Oxfam Novib Fund (ONF) is dedicated to enhancing resilience in response to the escalating effects of climate change. ONF supports Microfinance institutions (MFIs) that focus on underserved markets and target specific groups: rural communities, small-scale agricultural producers and women borrowers.

Lear more about our funds

Focus SDGs

Our funds – Pepea and Oxfam Novib Funds focus on the following sustainable development goals.










SDG 10


SDG 13

Fund Managers

Together with our Fund Managers, Goodwell and Triple Jump, we are transforming impact investments - one business at a time.

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Our stories

There are many stories to tell about Oxfam Novib Impact Investments. Here are some of them.

Pepea Fund Launch


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Press release of the launch


Why climate finance matters

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In this blog, we would like to present the new investment strategy of the Oxfam Novib Fund and explain how Oxfam Novib aims to support microfinance institutions (MFIs) to help reduce the negative impacts of climate change-related disasters on women, rural households and small-scale producers. 

Read the blog


Rising From the Rubble: Rukhsana's Battle Against Climate Disasters


The reality of the impact of climate change disasters disproportionately affects many individuals, especially smallholder farmers and micro-entrepreneurs like 43-year-old Rukhsana, who resides in vulnerable rural communities like Sindh in Pakistan, where the landscape is marked by the struggles of people grappling with the impact of climate change.

Read Rukhsana's story

Connect with us

Tamara Campero
Investments Manager  FAIR: Financial Systems and Investments

Michelle Steggerda
Investments Officer, FAIR: Financial Systems and Investments

Rafael  Zubieta
Financial Investment Officer, Finance Unit 


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