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Message from the CEO
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Message from the CEO
2025 was a defining year for Camco — one of transformation, disciplined execution and meaningful progress. We scaled our impact, sharpened our delivery and made significant strides toward building a more sustainable future in emerging markets. I’m incredibly proud of what our team, partners, investors and investees achieved together.
Camco grew significantly in both capability and ambition. We strengthened our position as a leading climate and impact fund manager, expanded our platforms, welcomed new colleagues, opened new offices and financed high-impact solutions across Africa, Latin America, the Pacific and beyond. Despite challenging market conditions, we stayed focused, demonstrated resilience and remained unwavering in our commitment to measurable impact.
Delivering impact at scale
By year-end 2025, Camco-managed platforms and funds delivered the following cumulative results:
- 342MW renewable energy capacity funded
- 1.6m direct and 2.2m indirect beneficiaries
- 3,992 MSMEs and 679 critical services electrified
- 88,612 ha of forest sustainably managed and 10,480m³ of sustainable timber produced by FCCF investees
- 229,629 tCO₂e avoided
- Investments spanning across 54 countries, supported by USD363m AUM
These outcomes reflect not just our growing reach, but the discipline, quality and integrity of our investment approach.
A year of platform growth and strategic milestones
2025 delivered major achievements across our platforms:
- REPP 2 grew rapidly after its first close in late 2024, completing its first investment and building strong momentum.
- The REPP 2 Technical Assistance Facility exceeded its delivery targets, reinforcing our role in shaping markets.
- Spark scaled significantly, closing its largest solar transaction to date in Bushvalley Chickens and expanding into Nigeria and Tanzania.
- TIDES secured its first investor agreements, laying the groundwork for a successful close in 2026.
- LMDF reached deployment targets and set a refreshed strategy aligned with shifting market realities.
Together, these milestones demonstrate Camco’s evolution into a multi-fund, multi-geography manager with a strong operational backbone and rising investor confidence.
“Our achievements in 2025 reflect the dedication and resilience of our entire team, from Nairobi to London, Luxembourg to Sydney.”
“Our achievements in 2025 reflect the dedication and resilience of our entire team, from Nairobi to London, Luxembourg to Sydney.”
Strengthening our organisation for future growth
To support our expanding portfolio, we made a series of strategic organisational investments:
- Formed a strategic partnership with Investing for Development, integrating new expertise and strengthening our reach.
- Opened our Luxembourg office to enhance investor engagement.
- Established a dedicated investor relations unit.
- Created a non-profit vehicle to drive market-building and technical assistance.
These steps position Camco to scale efficiently and deliver deeper, more meaningful impact. They also reflect the skill and dedication of our 35-strong global team, spanning over 10 countries.
Looking ahead: clarity and momentum
In 2026, our focus is clear:
- Scale REPP 2, Spark, TIDES and LMDF
- Deepen and broaden investor partnerships
- Maintain disciplined investment and excellent portfolio management
- Strengthen the platforms, accelerating a clean, resilient, prosperous future
We step into 2026 more capable and more confident than ever in our ability to deliver impact at scale.
A final word of thanks
Our achievements in 2025 reflect the dedication and resilience of our entire team, from Nairobi to London, Luxembourg to Sydney. I am deeply grateful to each of you for your resilience, insight and unwavering commitment to our mission.
To our investors, partners and investees — thank you for your trust. Together, we are proving that climate-positive, commercially disciplined investment can transform markets, empower communities and build a more prosperous, net-zero future.
