Meet Anthony Mahira, Investment Manager at DOB Equity

Starting in FP&A within the FMCG space, Anthony’s career took him from finance roles in London to management consulting and time working in West Africa. His curiosity about impact and development eventually led him to DOB Equity, where he supports early-stage businesses solving real social and environmental challenges across East Africa.

Read more about what drew him to DOB, the investment he’s most proud of, and what he’s learned from working with entrepreneurs in the region.

Anthony, tell us a bit about your background and your career journey.
I’d say my path into impact investing has been a bit roundabout, maybe even a little unexpected. I studied finance as an undergrad and started off in the typical FP&A route within the FMCG space. I was lucky to get the chance to work in London for a while before heading back home to Nairobi.

After that, I took a break to go to business school, which gave me the space to really explore something I’d always been drawn to: working closer to the world of “impact” and “development,” terms I was only just getting familiar with at the time, but which really resonated with me on a deeper level.

That curiosity pushed me to shift gears into management consulting, and during that time, I also had a chance to work in West Africa. That experience was a turning point. It made it clear to me that I wanted to be part of driving economic development across the continent. I moved back to Nairobi, continued in consulting for a bit, and eventually found my way into impact investing with DOB Equity.

What excites you most about working at DOB Equity?
What initially attracted me to DOB Equity was the clear sense of purpose behind its work. The commitment to tackling complex challenges like poverty and climate change through innovative, scalable solutions really stood out to me. I was drawn to the idea of being part of a team that’s not afraid to take risks to support impactful businesses, especially in a region as dynamic and full of potential as East Africa.

Now that I’m here, I’m even more excited to keep growing with DOB. Being part of a mission-driven team that actively supports inclusive, sustainable progress has been incredibly inspiring. There’s a real sense of momentum and possibility, and I’m looking forward to continuing to contribute to that journey.

Can you describe your role at DOB and how it contributes to DOB’s vision?
On the investment team, my role covers the full spectrum from building a strong pipeline of high-potential businesses to managing the end-to-end investment process. That means everything from digging into due diligence to structuring deals that not only make sense financially but also align with our impact goals. A big part of what drew me to this work is that we’re backing companies solving real social and environmental challenges, and often, we’re stepping in with catalytic capital where others might hesitate.

Post-investment, I stay actively involved with our portfolio companies, whether it’s helping founders think through strategy, navigate growing pains, or connect with the right partners. Internally, I also help shape how we work as a team, making sure we stay aligned with our mission to support innovative, scalable solutions that contribute to a more sustainable, inclusive future in East Africa. It’s exciting to be part of a team that’s investing and pioneering change.

What are some of the biggest opportunities and challenges in impact investing today?
One of the biggest opportunities in impact investing right now is the chance to really move the needle on climate resilience in regions like East Africa, where the need is huge but so is the potential. Even though East Africa contributes very little to global greenhouse gas emissions, it’s feeling the impact of climate change in a big way, more erratic rainfall, rising temperatures, and increasing pressure on food and water systems. That creates an urgent need for both mitigation and adaptation strategies, and that’s exactly where impact capital can make a difference.

The challenge, of course, is the sheer scale of the need. We’re talking about $13 billion annually just to address climate change impacts in the region. Public funding alone can’t cover that, so there’s a real opportunity for private investors to step in. But it's not just about throwing money at the problem, it's about being thoughtful, risk-tolerant, and catalytic. At DOB, we see that gap as a space where we can lead, not just by investing ourselves, but by unlocking much larger follow-on capital. That’s the exciting part, helping local communities not just survive the climate crisis but actually thrive by backing solutions that are innovative, scalable, and rooted in the realities on the ground.

What’s one investment or project you’ve worked on that you’re particularly proud of?
One investment I’m particularly proud of is our recent investment in FarmWorks. They’re doing amazing work in improving market access for smallholder farmers, which is a massive challenge in Kenya. A lot of farmers grow great produce but struggle to find reliable buyers. FarmWorks has built a strong distribution model that connects these farmers directly to informal vendors, retailers, and restaurants, creating a steady and reliable offtake for their produce.

What I really love about FarmWorks is how they’re using tech to solve real-world problems, matching supply and demand efficiently, reducing food loss, and strengthening the whole agri value chain. Plus, they’ve got a clear focus on empowering women and youth, and are building climate resilience through sustainable practices. And on top of all that, they’re led by a brilliant female founder, Yi Li, which makes the story even more inspiring. Supporting them as they scale and deepen their impact has definitely been a highlight for me.

What’s a key lesson you’ve learned from working with entrepreneurs in East Africa?
One key lesson I’ve learned is that behind every pitch deck in East Africa is a founder who's navigating a ton of real-world complexity, way beyond what the numbers show. A lot of the entrepreneurs we work with are building businesses while juggling unreliable infrastructure, tricky regulations, limited access to capital, and in many cases, the added weight of operating in informal markets. And despite all that, they just keep going. The level of grit and adaptability is honestly inspiring.

What’s really stuck with me is how much more impactful we can be as investors when we move beyond just capital. Sometimes what a founder needs most is a sounding board who gets their context, someone who can help them think through a regulatory headache, or who’s willing to back them even when the business isn’t “textbook-ready.” Especially in sectors like agri or for women-led ventures, where traditional funding can be extra hard to come by, our role as risk-tolerant, hands-on partners can be a real game-changer. It’s reinforced for me that good investing here is about partnership, not just capital.

Outside of work, what are some hobbies or interests that inspire you?
Outside of work, spending time with my family is really important to me. I feel lucky to live in East Africa, it has some incredible places to explore. Whenever we get the chance, we like to escape the city and head to the coast or go on safari. It’s a great way to unwind, enjoy nature, and make special memories with the kids. Those moments definitely help recharge and keep things in perspective.