Our investment
In December 2017, we made a €25 million commitment to MPEF IV, alongside several other DFIs. The target fund size is €200 million and the fund manager will be looking to make investments of between €8 million and €25 million. Our investment will support a well-established fund manager in targeting local companies that have the potential to become local or regional champions, as well as with potential to expand into sub-Saharan Africa.
Expected impact
North Africa is home to a new generation of entrepreneurs, some of whom have longstanding roots in the region, and others who are returning to take advantage of new opportunities offered by the current regional transition. However, lack of finance has been a barrier to their ability to grow their businesses, particularly internationally. Our investment will support well-established local firms that demonstrate strong potential for growth. The fund manager will target sectors where it has significant expertise, such as IT and telecoms, FMCG, healthcare, education, logistics, agribusiness and financial and business services. Supporting these businesses with the finance and expertise to expand will help create new direct and indirect jobs in a region where youth unemployment is particularly high. It will also help to foster economic integration across the region.
Environmental and social aspects
The fund manager has a well-established approach to environmental and social (E&S) management and we will continue to support and monitor its approach as the portfolio grows.
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, North Africa
- Website:
- http://www.africinvest.com/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- AfricInvest
- 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
- November 2017
- 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.
- $29.1m
- 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 |
|---|---|---|---|---|---|
| Promamec | February 2018 | Active | |||
| CFG Bank | April 2018 | Active | |||
| Land’Or | October 2018 | Active |
