Our investment
In 2014, CDC invested $50 million into the fund, alongside Dutch DFI FMO and private investors. The fund closed at a total size of $990 million. Our investment provides growth capital for mid and large-market enterprises in key territories.
Expected impact
Africa's momentum for growth continues, as the continent's economies continue to diversify away from resources and focus on the potential offered by increasing urbanisation and a growing class of young consumers.
Our investment enables the fund manager to tap into this expanding appetite for goods and services. It will also help attract commercial capital to the region.
Abraaj also provides strategic and managerial assistance for its investee companies, helping local African businesses to expand across the region.
Success stories include cornerstone investments in Liberty Star Consumer Holdings (one of South Africa's leading FMCG manufacturers), Java House (a Nairobi-based coffee chain), and Joint Medical Holdings (a hospital group in South Africa).
Environmental and social aspects
The fund manager has a well-established approach to environmental and social 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
- 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, Manufacturing, Other consumer services
- Website:
- https://protect-eu.mimecast.com/s/b2vUCJqXYFqNBq4UVWMnKE?domain=act.is/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Actis LLP
- 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
- June 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.
- Cayman Islands
Investments made by this fund
- Active
- Exited
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
|
Mouka Limited
Mouka Limited is a private Nigerian company which manufactures polyurethane (foam) used in making mattresses, furniture and other products. The company is the leading polyurethane company in Nigeria with its products sold across the country. |
Nigeria | Africa, West Africa | Manufacturing | June 2007 | Active |
|
Libstar
Libstar is an FMCG manufacturer operating in the food and beverage and household and personal care segments, supplying the market via private label offerings, branded products and contract manufacturing. |
South Africa | Africa, Southern Africa | Other consumer services | June 2011 | Active |
|
Indorama Eleme Fertilizer & Chemicals Limited
Indorama Eleme Fertilizer & Chemicals Limited, Nigeria (IEFCL) is an Indonesian-based manufacturer of petrochemicals and associated downstream products that operates in 19 countries. The company will build and operate a fertilizer production facility near Port Harcourt, Nigeria, along with an 84km pipeline to transport gas to the plant. |
Nigeria | Africa, West Africa | Manufacturing | April 2013 | Active |
|
Ghana Home Loans
Ghana Home Loans is a full service mortgage finance house. Its five main products are First Time Buyers, Buy To Let, Equity Release, Refinance and Home Completion. |
Ghana | Africa, West Africa | Financial services | December 2016 | Active |
|
Nairobi Java House Limited
Java House operates casual dining retail brands in Kenya, including Nairobi Java House, a coffee shop/restaurant that offers coffee, drinks and food to customers; Planet Yogurt, which sells frozen yoghurt; and 360 Degrees Artisan Pizza. |
Kenya | Africa, East Africa | Other consumer services | September 2017 | Active |
| Joint Medical Holdings (Pty) Limited | January 2018 | Active |
