CDC’s investment is enabling Ecom Express to increase its workforce from c.32,000 to c.47,000. This will be complemented by a distinct focus on increasing the number of employed women in the workforce. CDC will work with the company to convert a proportion of its distribution fleet to electric vehicles and sponsor a road safety programme for its drivers and fleet operators.
Supporting economic opportunities by creating jobs with a focus on increasing women’s employment (SDG targets 5.5, 8.5)
CDC’s investment will support the expansion of Ecom Express’s business, creating quality formal jobs and supporting livelihoods for workers.
Low-income (over 60% of workers are located in states with per capita income and employment levels below the national average).
Supporting the creation of 15,000 jobs across delivery centres, fulfilment centres and hubs over the lifetime of the investment.
Wages are expected to be higher than average household income for low-skilled workers, over 80% of employees surveyed report a better salary than previous employment with over 60% reporting a 50% increase in salary. Ecom Express meets international standards on job quality and has progressive employment policies.
To help us direct our investments, we use a tool called the Development Impact Grid. The Grid scores every investment we plan out of a score of four, based on two factors: the difficulty of investing in the country and whether investment in that sector will lead to jobs.
Execution: The impact case relies on the business’s ability to successfully scale up its delivery and fulfilment centre capacity.
Environmental and social aspects
CDC ESG-I team is supporting Ecom to develop and implement a comprehensive environmental and social management system. We are also supporting the Company in strengthening road safety within their operations and encouraging delivery fleet transition to electric vehicles.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
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.
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Equity
- 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
- October 2019
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.