Ray Kibet

Managing director

Rodger Waka

Director

Winnierose Kosgei

PROJECT ANALYST

Faith Njore

PROJECT ANALYST

Ray Kibet

Executive Director

Over 8 years’ experience in investment banking and private wealth management managing complex teams and driving exceptional results in high-stakes environments. At Emerald, Ray has been involved across the transaction cycle, raising capital (debt and equity) for businesses spanning various stages of development and across various sectors. He has also conducted personalized financial audits on high-net-worth clients and pension fund portfolios with the goal of providing optimal portfolio allocation recommendations. Additionally, he has curated global financial market intelligence reports that have informed both the investment banking and private wealth arms of Emerald’s business. Ray has also taken the lead in the firm’s business development activities.

Ray holds a Bachelor’s degree in Financial Economics from Strathmore University (First Class Honours), a Post-Graduate certificate in Accounting from Upper Iowa University, and is a graduate of New York University. He additionally holds investment banking certification (Series 66 and Securities Industry Essentials (SIE)) from the Financial Industry Regulatory Authority (FINRA).

Rodger Waka

Director

8+ years experience in investment management and corporate finance & investment advisory. Rodger previously worked in impact investing, placing capital (primarily debt) in financial institutions (banks, microfinance institutions, and leasing companies) across Sub-Saharan Africa. He has also worked in investment advisory, raising capital across the capital structure (debt, equity, mezzanine, convertible debt, grants etc.) for small and medium-sized enterprises across Eastern Africa (Kenya, Uganda, Tanzania, Rwanda, and the Democratic Republic of the Congo). His sector experience includes financial services, agribusiness, real estate, hospitality, retail, logistics, education, renewable energy, and manufacturing. Deal sizes range from USD 250 thousand to USD 60 million.

At EWM, he is responsible for the entire deal cycle, with a particular emphasis on deal structuring. His firm-specific experience includes projects in financial services, horticulture, agro-processing, and manufacturing.

Rodger holds a Bachelor’s degree in Financial Engineering from Strathmore University (First Class Honours), is an affiliate member of the Association of Chartered Certified Accountants (ACCA(UK)), a Chartered Financial Analyst (CFA®), and has completed the Chartered Alternative Investment Analyst (CAIA) Program.

Winnierose Kosgei

Project Analyst

7+ years’ experience specializing in investment appraisal, project finance and Public Private Partnerships (PPPs). Winnierose has been involved end-to-end in the investment process, from origination to financial close, for projects spanning various sectors including Renewable Energy, Transport, Housing, Water Infrastructure, and Health Systems, with ticket sizes ranging from USD 20 million to USD 600 million.

Previously, Winnierose worked as a Financial Analyst at the Public-Private Partnerships Unit in Kenya. In this capacity, she played a crucial role in PPP project structuring, financial modelling, origination, and negotiation across multiple sectors. Her contributions were instrumental in creating a robust pipeline of projects and successfully achieving financial close for over 5 of them. She now works in Pan-African development finance, specializing in originating and structuring debt and equity transactions for financial institutions, governments, and project developers across both Anglophone and Francophone Africa.

Winnierose holds a Bachelor’s degree in Actuarial Science from Strathmore University. She is currently pursuing a Master’s degree in Development Finance from the same institution.

Faith Njore

Project Analyst

7+ years’ experience in investment management and advisory in the renewable energy sector. Faith previously worked in an energy access debt fund where she structured, executed, and managed debt investments worth over USD 15 million in distributed renewable energy access companies across Sub-Saharan Africa. She also co-managed three solar mini-grid projects for an off-grid energy access program in Rwanda, and has offered business advisory services across Eastern Africa to small and microenterprises dealing with solar water pumping, home biogas systems, briquette processing and distribution, solar cooling and refrigeration solutions.

Faith holds a Bachelor’s degree in Actuarial Science from Strathmore University, a Venture Capital and Private Equity Certificate from Strathmore Business School (SBS), Environmental and Social Risk Analysis certification from the UNEP Finance Initiative, and has passed Level I of the Chartered Financial Analyst (CFA®) Program. Additionally, she holds a post-graduate diploma from Stockholm Resilience Centre in partnership with the Swedish Institute, is a Global Shaper (Nairobi Hub), and has participated in the UNLEASH Global Talent (Singapore) and the Young African Leadership Initiative program, through which she has grown her professional networks while honing her communication, interpersonal and leadership skills..