Our investment
In 2015, CDC invested $50 million into CAPE IV as an anchor investor. Our investment will support the growth of West African businesses in key sectors.
Expected impact
Many of Africa's key business sectors remain undeveloped due to a lack of finance, challenging infrastructure and poor regulatory frameworks.
Our investment in the CAPE IV fund enables the fund manager to provide much-needed capital to support the expansion of firms in undeveloped sectors, including healthcare, financial services and telecomms. This, in turn, will boost infrastructure investment, job creation, and the development of business skills that will support wider economic expansion across West Africa.
The fund manager walso provides strategic and technical expertise to investee companies to boost growth and expansion.
To date (across the current and prior funds) the firm has invested in Nigeria’s leading telecomms provider, MTN Nigeria Communications, the Union Bank of Nigeria, and Continental Reinsurance, the largest private pan-African reinsurer outside of South Africa.
Environmental and social aspects
We are working closely with the fund manager to improve its existing Environmental and Social Management System, including delivering an action plan.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Africa, West Africa
- Sector
:
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.
- Financial services, Food and agriculture, Others
- Website:
- https://www.acagp.com/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- African Capital Alliance
- 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
- February 2015
- Amount
:
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.
- $50m
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- Mauritius
Investments made by this fund
- Active
- Exited
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
|
Vertex Energy/First Hydrocarbon Nigeria Co Ltd
First Hydrocarbon Nigeria Company Limited is an indigenous Exploration & Production company in Nigeria that was established by UK-listed Afren in direct response to the Nigerian government’s policy to increase indigenous participation. |
Nigeria | Africa, West Africa | Others | December 2010 | Active |
|
ACA B Holdings Limited/Union Bank
ACA B Holdings proveds banking and other financial services to a wide range of corporate and retail customers, predominantly in Nigeria. |
Nigeria | Africa, West Africa | Financial services | December 2011 | Active |
|
Continental Reinsurance Plc
Continental Reinsurance is a reinsurance company offering life and non-life products, and is based in Nigeria. It is present across Africa, with offices in Lagos, Douala, Abidjan and Nairobi. |
Nigeria | Africa, West Africa | Financial services | February 2016 | Active |
|
Niger Delta Exploration & Production Plc
Niger Delta Exploration & Production plc is a leading Nigerian independent exploration and production company with operations focused on the upstream oil and gas sector. It is the only Nigerian indigenous independent company to supply natural gas to the Shell-operated Nigeria Liquefied Natural Gas export plan at Bonny in Nigeria. |
Nigeria | Africa, West Africa | Others | June 2016 | Active |
|
Beloxxi Industries Limited
Beloxxi is a leading biscuit manufacturer in Nigeria and also has export sales in Ghana. |
Nigeria | Africa, West Africa | Food and agriculture | August 2016 | Active |
| Petra | February 2018 | Active | |||
| Ashwah Holdings Limited | June 2018 | Active | |||
|
Continental Reinsurance Plc
Continental Reinsurance is a reinsurance company offering life and non-life products, and is based in Nigeria. It is present across Africa, with offices in Lagos, Douala, Abidjan and Nairobi. |
Nigeria | Africa, West Africa | Financial services | Exited |
