Pauline Koelbl

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. 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.

Earlier in her career, she worked with international organizations including UNICEF, UNESCO, and the World Health Organization. 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.

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.

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.

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.

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. 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. In 2018, Koelbl was appointed managing director of the African Innovation Foundation, where she was responsible for its overall management and strategic direction.

Entrepreneurship, investment and ecosystems engagement In 2018, Koelbl co-founded the Professional Women of African Heritage (PROWAH), a network based in Switzerland.

In 2020, she founded AfriProspect, a Switzerland-based company focused on connecting African startups and innovators with international partners and investors. In 2021, ShEquity, in partnership with MBC Africa, launched the ShEquity Business Accelerator (SHEBA) which focused on de-risking women-led businesses.

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".

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.

Board and advisory roles

Federal Ministry for Economic Cooperation and Development (Germany) (member of Team Transformation) Be That Girl Foundation (senior advisor) Global Perspective Initiative (advisory board member) Maximize Meaningful Education Foundation (board member) Monter Capital Fund (advisory board member) EurAfrican Forum (advisory board member) 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 2007: University of Arizona Honors College Outstanding Senior Award 2024: Aspioneer Trailblazer Women Leaders