Africa Forestry Fund II

Uganda, South Africa Manufacturing

SSA focused forestry fund

Our investment

In April 2018, CDC committed $30 million to ASFF II.

Expected impact

ASFF I and II are flagship projects in the African forestry space and can demonstrate attractive returns are possible and ultimately attract additional capital to the sector. The mandate also incorporates significant skills transfer through their operations in many of the markets in which they will invest. Investments in forestry can also deliver key developmental and environmental and social benefits.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.


We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Fund manager:
Criterion Africa Sustainable Forestry Management
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

April 2018

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.


Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status
Vuka Timbers

Vuka Timbers manufactures and supplies timber-based wooden poles used in electrical transmission and distribution, telecommunication, fencing, agriculture, laths and droppers. The company supports local communities, by providing power and communication where they have never been before.

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South Africa Africa, Southern Africa Manufacturing August 2019 Active

Mphome is a company formed by Africa Forestry Fund II after the acquisition of 6,400 hectares of eucalyptus and pine plantations located in the Limpopo province of South Africa. Although the quality of the plantations is below par, there are significant opportunities to rehabilitate the asset as well as opportunities for higher and better use of select portions of the land where agriculture will be developed with ZZ2.

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South Africa Africa, Southern Africa Manufacturing August 2019 Active
Global-woods AG

Global-woods AG is a forestry company in the Kikonda Forest Reserve in Uganda which has been operating under a tree-farming license to establish and manage the 12,182 hectare forest since 2002. A variety of tree species are grown in the plantation to produce saw-logs and fuel wood.

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Uganda Africa, East Africa Manufacturing June 2020 Exited

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