Our investment
In 2012, CDC invested $30 million in the Africa Credit fund. The fund is also supported by Dutch development bank, FMO. The Investec Asset Management team is aiming to raise up to $350 million for the fund from commercial investors both in Africa and beyond to provide much-needed capital to African businesses.
Expected impact
There is a shortage of credit in sub-Saharan Africa for private sector businesses.
The fund aims to bring in other institutional investors and ensure that their money will be used to provide debt capital to companies across sub-Saharan Africa.
The Investec Fund will typically provide capital to businesses and projects which already support local employment, enabling access to longer term funding.
The finance may be used as working capital or to fund expansion, enabling the creation of jobs.
Environmental and social aspects
We worked closely with the fund manager to contribute to the development and implementation of an Environmental and Social Management System (ESMS).
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
- 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.
- Communications and IT Services, Construction and real estate, Financial services, Infrastructure, Manufacturing, Others
- Website:
- https://protect-eu.mimecast.com/s/3X_SCl56vS2Q129tGz9JQK?domain=investec.com
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Investec Asset 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
- December 2012
- 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.
- $30m
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- Guernsey
Investments made by this fund
- Active
- Exited
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
|
Persianas Limited
The Persianas Group was founded in 1990 and is involved in the construction and management of real estate developments across Nigeria, particularly in the retail sector. |
Nigeria | Africa, West Africa | Construction and real estate | June 2004 | Active |
|
Equity Bank
Equity Bank was established in 1982 as a building society to serve the unbanked and to provide products and services that economically empower its customers. Its products include a diverse range and are targeted to specific needs including SME loans, microfinance and agribusiness loans |
Kenya, Uganda | Africa, East Africa | Financial services | December 2004 | Exited |
|
Helios Towers Nigeria Ltd
Helios Towers is the sole provider of tower sites on a leased basis in Nigeria and in all of Africa. |
Nigeria | Africa, West Africa | Communications and IT Services | October 2007 | Exited |
|
Ecobank (Formerly Oceanic Bank of Nigeria)
Ecobank is a commercial bank in Nigeria listed on the Nigerian Stock Exchange. |
Nigeria | Africa, West Africa | Financial services | November 2007 | Active |
|
Trade Development Bank
The Eastern and Southern Africa Trade and Development Bank - TDB Bank - is a regional development bank headquartered in Burundi. It has offices in Nairobi, Harare, and Ebene. Established in 1985, its aim is to facilitate economic growth, trade and regional integration through its role as a financial intermediary providing trade and project finance in 17 countries across East and Southern Africa. It invests in a range of sectors, including agriculture, trade, industry, infrastructure, energy and tourism and provides a range of financial products and services across both the private and public sectors. |
Africa, East Africa | Financial services | March 2010 | Exited | |
|
Letshego Holdings
Letshego is a regional consumer financial services provider in sub-Saharan Africa, providing unsecured loans to employees of government and quasi government organisations utilising a payroll deduction business model. |
Botswana | Africa, Southern Africa | Financial services | May 2010 | Exited |
|
FBC Holdings Limited
FBC Holdings Limited is a diversified financial services group with interest in commercial banking, stock broking, mortgage and reinsurance services based in Harare, Zimbabwe and listed on the Zimbabwe Stock Exchange. |
Zimbabwe | Africa, East Africa | Financial services | June 2013 | Active |
|
Africa Finance Corporation
AFC is an international finance organization established by a treaty between sovereign states. |
Tanzania | Africa, East Africa | Financial services | October 2013 | Active |
|
Bayport Management
Bayport Management is a leading provider of unsecured credit and financial solutions to the formally employed large markets in Africa, including Zambia, Ghana, Uganda, Tanzania, Botswana, South Africa and Mozambique and Latin America. |
Africa | Financial services | December 2013 | Exited | |
|
IHS Nigeria
IHS, which was founded in 2001, is a company specialising in building towers and managing sites for mobile network operations. |
Nigeria | Africa, West Africa | Communications and IT Services | December 2014 | Active |
|
IHS Zambia Ltd
IHS Zambia Limited is the sole and leading independent tower operator in Zambia – owning and operating over 1,700 telecommunications towers. It is a wholly owned subsidiary of the IHS Towers Group – the largest independent tower operator in Africa – which has a presence in Nigeria, Cameroon, Cote d'Ivoire, Rwanda and Zambia. |
Zambia | Africa, East Africa | Communications and IT Services | December 2014 | Active |
|
Gruppo Limited (Ikeja Mall)
Gruppo Investment Nigeria Limited is a Nigerian-domiciled company with plans to develop a mixed-use retail and office complex located in Ikeja, Lagos, |
Nigeria | Africa, West Africa | Construction and real estate | December 2014 | Active |
|
First Bank Nigeria
First Bank of Nigeria is a multinational bank and financial services company in Nigeria. |
Nigeria | Africa, West Africa | Financial services | December 2014 | Exited |
|
Globeleq Africa Holdings
Globeleq develops, owns and operates thermal and renewable independent power plants in Africa. |
Africa | Infrastructure | December 2014 | Exited | |
|
GTB
Guaranty Trust Bank is a Nigerian financial institution with business outlays across Anglophone and Francophone West Africa and East Africa. |
Nigeria | Africa, West Africa | Financial services | December 2014 | Exited |
|
Intrepid Aviation
Intrepid Aviation is a privately held commercial aircraft lessor which owns and manages commercial aircraft leased to airline operators worldwide. |
Namibia | Africa, Southern Africa | Manufacturing | December 2014 | Exited |
|
Kosmos Energy
Kosmos Energy is an international oil and gas exploration and production company. It has identified the Tano Basin offshore Ghana as a potential hydrocarbon system. Its first major discovery in 2007 was the Jubilee Field. |
Ghana | Africa, West Africa | Others | December 2014 | Exited |
|
Zenith Bank Plc
Zenith Bank is a commercial bank listed on the Nigerian Stock Exchange |
Nigeria | Africa, West Africa | Financial services | March 2015 | Exited |
|
Trade Development Bank
The Eastern and Southern Africa Trade and Development Bank - TDB Bank - is a regional development bank headquartered in Burundi. It has offices in Nairobi, Harare, and Ebene. Established in 1985, its aim is to facilitate economic growth, trade and regional integration through its role as a financial intermediary providing trade and project finance in 17 countries across East and Southern Africa. It invests in a range of sectors, including agriculture, trade, industry, infrastructure, energy and tourism and provides a range of financial products and services across both the private and public sectors. |
Africa, East Africa | Financial services | June 2015 | Active | |
|
Karadeniz Powerships
Karadeniz Powerships is part of the energy wing of Turkey-based Karadeniz Holding. The powership is expected to generate approximate 225MW of electricity to augment Ghana's energy needs. |
Ghana | Africa, West Africa | Infrastructure | June 2015 | Active |
|
BaÃa Mall (formerly RaceGame)
RaceGame is a project to develop an A-Grade shopping centre. The retail development will be on 6ha of land in an excellent location in Maputo, Mozambique. |
Mozambique | Africa, East Africa | Construction and real estate | May 2016 | Active |
|
MTN Mauritius
MTN International is an investment holding company offering telecommunication services through its subsidiary. |
Mauritius | Africa, East Africa | Communications and IT Services | June 2016 | Active |
|
Liquid Telecom Holdings
Liquid Telecom is a leading independent data, voice and IP provider in eastern, central and southern Africa. It supplies fibre optic, satellite and international carrier services to Africa's largest mobile network operators, ISPs and businesses. It also provides payment solutions to financial institutions and retailers. |
Africa | Communications and IT Services | December 2016 | Active | |
| African Export Import Bank (Afrexim Bank) | Africa | Financial services | June 2017 | Active | |
| Centum Investment Limited | Africa | Financial services | September 2017 | Active | |
| Seacom Limited | Africa | Communications and IT Services | December 2017 | Active | |
| J&J Africa Group | June 2018 | Active | |||
|
Equity Bank
Equity Bank was established in 1982 as a building society to serve the unbanked and to provide products and services that economically empower its customers. Its products include a diverse range and are targeted to specific needs including SME loans, microfinance and agribusiness loans |
Kenya, Uganda | Africa, East Africa | Financial services | December 2018 | Active |
| FirstRand Bank Limited | December 2018 | Active | |||
| United Bank for Africa | December 2018 | Active |
