Pauline Koelbl

Pauline Koelbl
Born
Pauline Mujawamariya

Kigali, Rwanda
Citizenship
Alma materPima Community College
University of Arizona Honors College
Institute of Development Studies, University of Sussex
OccupationsEntrepreneur, impact investor, gender-lens investor
Organizations
  • ShEquity Partners
  • AfriProspect GmbH
  • Professional Women of African Heritage
TitleFounder & CEO of AfriProspect and ShEquity

Pauline Koelbl (born Pauline Mujawamariya) is a Rwandan-born impact investor, entrepreneur, and innovation catalyst. She is the founder and managing partner of ShEquity, a Mauritius-domiciled investment firm established in 2020 that invests in climate-focused, gender-smart businesses driving climate adaptation and resilience across Africa.[1] Koelbl previously served as managing director of the African Innovation Foundation in 2018, and as director of its flagship program, the Innovation Prize for Africa, from 2011 to 2018.[2]

Earlier in her career, she worked with international organizations including UNICEF, UNESCO, and the World Health Organization.[3] She is a double Fulbright: Fulbright Scholar and Fulbright Fellow. She is also the founder and CEO of AfriProspect, a Switzerland-based company created in 2020 to connect African innovators with international investors and markets.[4]

Early life and education

Koelbl was born in Rwanda. Due to the Rwandan civil war that led to a genocide in 1994, she was displaced and lived as a refugee in the Democratic Republic of the Congo before immigrating to the United States as a documented refugee.[5]

Koelbl obtained an Associate of Arts degree from Pima Community College in 2005. She subsequently obtained a Bachelor of Arts in International Studies from the University of Arizona Honors College in 2007, graduating summa cum laude. In 2008, she completed a Master of Arts in Development and Poverty at the Institute of Development Studies, University of Sussex, as a Fulbright Scholar. In 2016, she completed executive education in Innovation for Economic Development at the Harvard Kennedy School.[5][6]

Career

Early career

Koelbl began her career in international development, working with organizations including UNICEF and the German development agency in the Democratic Republic of the Congo, and ENDA Third World in Senegal. Between 2000 and 2005, she worked as a senior case manager at Jewish Family Service in Arizona. She later worked as a program's assistant at the University of Arizona until 2007. In 2009, she was a Fulbright Fellow at UNESCO in Paris, France, and later served as a technical officer at the World Health Organization in Geneva until 2010.[7][8]

African Innovation Foundation

In 2011, Koelbl joined the African Innovation Foundation as director of the Innovation Prize for Africa, a program created to identify and support African innovators.[9] She led the program from 2011 to 2018, overseeing multiple editions of the prize and working with partners to strengthen innovation ecosystems across the continent.[10] In 2018, Koelbl was appointed managing director of the African Innovation Foundation, where she was responsible for its overall management and strategic direction.[11]

Entrepreneurship, investment and ecosystems engagement

In 2018, Koelbl co-founded the Professional Women of African Heritage (PROWAH), a network based in Switzerland.[12]

In 2020, she founded AfriProspect, a Switzerland-based company focused on connecting African startups and innovators with international partners and investors.[4]

The same year, she founded ShEquity, a Mauritius-domiciled investment firm that invests in early-stage and growth-stage women-led and gender-smart businesses addressing climate related challenges in Africa.[13][14] In 2021, ShEquity, in partnership with MBC Africa, launched the ShEquity Business Accelerator (SHEBA) which focused on de-risking women-led businesses.[15]

Koelbl is a speaker at various forums on innovation, entrepreneurship, impact investing, gender-lens investing, and women's economic empowerment, serving as a keynote speaker, panelist, moderator, and guest lecturer at different universities. In 2026, she participated in multiple panels at the World Economic Forum Annual Meeting in Davos, including one titled "She Builds, She Leads, She Scales: Women Shaping Africa's Economic Future".[16]

Publications

  • Koelbl, Pauline. "Catalysing Innovation Across Africa: The Innovation Prize for Africa (IPA)." In Nuts & Bolts: Strengthening Africa's Innovation and Entrepreneurship Ecosystems, book by McLean Sibanda. Tracey McDonald Publishers, 2021.[17]

Board and advisory roles

  • Federal Ministry for Economic Cooperation and Development (Germany) (member of Team Transformation)[18]
  • Be That Girl Foundation (senior advisor)[19]
  • Global Perspective Initiative (advisory board member)[20]
  • Maximize Meaningful Education Foundation (board member)[21]
  • Monter Capital Fund (advisory board member)[22]
  • EurAfrican Forum (advisory board member)[23]
  • AdOpes (advisory board member)
  • ABM University College (council member & Academic, Research and Innovation Committee member)

Awards and recognition

  • 2007: University of Arizona Centennial Achievement Award[24]
  • 2007: University of Arizona Honors College Outstanding Senior Award[24]
  • 2022: The University of Arizona Franke Honors Alumna
  • 2022: Listed on Meaningful Business MB100 list[25]
  • 2024: Aspioneer Trailblazer Women Leaders[26]

References

  1. ↑ Jackson, Tom (18 March 2021). "Meet the Investor: Pauline Koelbl, ShEquity". Disrupt Africa. Retrieved 5 March 2026.
  2. ↑ Nasiru, Jemilat (20 December 2017). "We are out to promote creativity on our continent, says NGO supporting African entrepreneurs". TheCable. Retrieved 5 March 2026.
  3. ↑ James, Faith (14 November 2025). "Inside Pauline Koelbl's mission to fund Africa's gender-smart climate-focused enterprises". thebenchmark.com.ng. Retrieved 8 March 2026.
  4. 1 2 Vanderpool, Tim. "Two U of A alums are transforming global communities". alumni.arizona.edu. Retrieved 8 March 2026.
  5. 1 2 "A Unique Journey to an Impact Investor and Entrepreneur: Pauline Koelbl's journey of Antifragility and Purpose". Aspioneer. 11 March 2024. Retrieved 8 March 2026.
  6. ↑ "Pauline Koelbl combines passion and purpose to pay it forward". frankehonors.arizona.edu. 27 May 2022. Retrieved 1 April 2026.
  7. ↑ "Innovation, Social Entrepreneurship, and Enterprise for the Public Good in Africa". gess.msu.edu. Retrieved 8 March 2026.
  8. ↑ "Women are Problem Solvers! Investing in Them is the Key to Inclusive Growth. | VoiceAmerica Press Blog | Internet Talk Radio News". www.vapresspass.com. Retrieved 1 April 2026.
  9. ↑ "Local innovators to benefit from continental showcase". Mmegi Online. 24 May 2016. Retrieved 5 March 2026.
  10. ↑ Toby, Shapshak (9 May 2016). "Real Solutions To Real Problems Named In Innovation Prize For Africa 2016 Finalists".
  11. ↑ "The Government of Rwanda partners with the African Innovation Foundation to Host the Innovation Prize for Africa 2018 - PAN AFRICAN VISIONS". 16 May 2018. Retrieved 5 March 2026.
  12. ↑ "Singer, Seers, Jolly Lecture Series: Future Leadership in Global Development". Institute of Development Studies. Retrieved 8 March 2026.
  13. ↑ "On Funding African Female Entrepreneurs and Innovators - A NEW Conversation with Pauline Koelbl". Narratives of Purpose podcast. Retrieved 1 April 2026.
  14. ↑ "ShEquity CEO Pauline Koelbl urges Ghanaian businesses to tap into global carbon market opportunities - MyJoyOnline". www.myjoyonline.com. Retrieved 1 April 2026.
  15. ↑ "ShEquity launches SHEBA - ShEquity Business Accelerator | NewsGhana". 23 March 2021. Retrieved 8 March 2026.
  16. ↑ Aina, Temitope (22 January 2026). "Women investors push local capital to boost economy". Punch Newspapers. Retrieved 1 April 2026.
  17. ↑ Sibanda, McLean (2021). Nuts and Bolts: Strengthening Africa's Innovation and Entrepreneurship Ecosystems. London: Jonathan Ball Publishers. ISBN 978-1-77626-089-8.
  18. ↑ "Impact investor Pauline Koelbl: the courage to close the gap". AWE. 28 January 2025. Retrieved 31 March 2026.
  19. ↑ "From Adversity to Changemaker: Pauline Koelbl's Journey from Refugee to a Trailblazing Gender-lens and Impact Investor". Be That Girl. Retrieved 31 March 2026.
  20. ↑ "About - Global Perspectives Initiative". globalperspectives.org. Retrieved 31 March 2026.
  21. ↑ "Our Team - M2E Foundation". 14 February 2025. Retrieved 31 March 2026.
  22. ↑ "Advisory Board". Monter Capital Partnership Limited. Retrieved 31 March 2026.
  23. ↑ "Innovation, Social Entrepreneurship, and Enterprise for the Public Good in Africa". gess.msu.edu. Retrieved 31 March 2026.
  24. 1 2 Vanderpool, Tim. "Fulbright Brilliance | Arizona Alumni". alumni.arizona.edu. Retrieved 31 March 2026.
  25. ↑ "2022 MB100". Meaningful Business. Retrieved 8 March 2026.
  26. ↑ "The Trailblazer: Women Leaders, 2024". Aspioneer. 8 March 2024. Retrieved 31 March 2026.
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