IFC Africa Capitalization Fund Ltd.

Tunisia, Morocco, Tanzania, Nigeria, Malawi, South Africa, Ghana, India Financial services

This is an Africa-focused private equity fund investing in the banking sector.

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.

Financial services
Investment type

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

Intermediated investment
Fund manager:
IFC (International Finance Corporation)
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

December 2011

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
UT Bank

UT Bank is a privately owned small and medium enterprise bank in Ghana with over 25 branches. It targets primarily urban and semi-urban SME markets.

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Ghana Africa, West Africa Financial services March 2012 Active

CRDB Bank Plc is the leading provider for financial services in Tanzania with operations in both Tanzania and Burundi, East Africa. CRDB offers a comprehensive range of corporate, retail, business, treasury, and wholesale microfinance services through a network of 120 branches. It was established in 1996 and was listed on the Dar Es Salaam Stock exchange (DSE) in June 2009. It has a 20 per cent market share in Tanzania.

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Tanzania Africa, East Africa Financial services August 2015 Active
Net1 UEPS Technologies Inc.

Founded in 1989, Net1 UEPS is a South Africa-based financial technology and payments company offering a suite of card-based technology and mobile-centric financial services to low income segments of the population. Net1's smart card technology is especially suited for emerging markets due to its capability to work in an offline environment.

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South Africa Africa, Southern Africa Financial services May 2016 Active