ECP Africa Fund III

Algeria, Nigeria, Kenya, Cote d'Ivoire Food and agriculture, Communications and IT Services, Education, Other consumer services, Financial services

This is a large-cap pan-African generalist private equity fund.

This investment was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

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.

Communications and IT Services, Education, Financial services, Food and agriculture, Other consumer services
Investment type

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

Intermediated investment
Fund manager:
ECP Africa
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

July 2008

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
Oragroup (Formerly Financial BC SA)

Oragroup is a regional commercial bank operating in West and Central Africa. Orabank (formerly known as Financial Bank) currently operates in Benin, Chad, Gabon, Guinea, Mauritania and Togo. It provides a broad spectrum of financial services to a wide range of corporates, SMEs and retail customers.

View investment details

Africa, West Africa Financial services September 2008 Active
Thunnus Overseas SA France

Thunnus Overseas Group is an aggregation of six operating companies and holdings including: Peche et Froid Cote d Ivoire and Conserverie des Cinqs Océans. It produces and sells seafood products.

View investment details

Cote d'Ivoire Africa, West Africa Food and agriculture December 2008 Active
Wananchi Group Holdings

Wananchi Group is an East African telecommunications company that offers a combination of cable television and internet services to residential and corporate customers in Kenya and Tanzania.

View investment details

Kenya Africa, East Africa Communications and IT Services June 2009 Active
IHS Holding Limited

IHS is one of the largest telecommunications tower infrastructure providers in Africa. IHS currently owns over 715 towers in Nigeria where it leases space on the towers to Mobile Network Operators (MNO) under 10-15 years contracts.

View investment details

Nigeria Africa, West Africa Communications and IT Services December 2011 Active
Atlas Bottling Corporation

Atlas Bottling Corporation, which was founded in 1995, is a leading bottler of carbonated soft drinks in Algeria. It sells its products under the leading PepsiCo international brands (including Pepsi, Seven-up and Mirinda).

View investment details

Algeria Africa, North Africa Food and agriculture March 2014 Active
Maarifa Edu Holdings

Maarifa Edu Holdings is a pan-African education investment holding company focused on acquiring and developing education institutions in Africa. It was formed in 2014 with the aim of providing high quality, accessible and market-relevant higher education through institutions across Africa.

View investment details

Kenya Africa, East Africa Education July 2014 Active

CDC is becoming British International Investment