US-based social investment firm, Acumen Fund, plans to enter Rwanda in 2012, as it seeks to expand in the region, according to the fund’s director for East Africa, Biju Mohandas.

Acumen, which invests in health, housing, water, energy, agriculture and education sectors, said it’s looking at three opportunities in Rwanda. The firm’s debut in the country is part of new investments it intends to make next year, to the tune of $4-million to $5-million.

Presently, Acumen Fund is concluding four other investments in East Africa that were recently approved - three new ones and a second round of financing to an existing investment - totalling $4.1-million.

Mohandas said in the future the fund hopes to raise the capital it invests in the region locally. It is currently relying on philanthropic contributions to invest in Kenya, Uganda, and until recently Tanzania.

Source: East African