In 2017, CDC partnered with AKFED IPS to invest up to $140 million in a new power platform that will boost power generation in sub-Saharan Africa.
The platform houses IPS’s existing power projects in Uganda and Kenya - the 250 megawatt (MW) Bujagali hydropower project and the 75MW Tsavo project – and will focus on developing new power projects.
The platform aims to mobilise $1 billion worth of project funding, including in the tripartite 147MW Ruzizi III project in the Great Lakes region (Rwanda, Burundi and the DRC).
Access to power is a key development enabler in CDC’s geographies where most markets suffer from both peak and base load electricity generation deficits. In Africa, we are tackling this issue through Globeleq and AKFED.Once completed Ruzizi III is expected to increase Burundi and DRC’s installed capacity by 100% and Rwanda’s by 30% & contribute significantly to socio-economic development, building confidence in these economies and increasing access to reliable and affordable power to millions of people across the region. The impact on the broader power chain could be significant in forming crucial transmission and distribution networks.
Environmental and social aspects
In creating this platform we have brought a clear focus on best practice environment and social standards. We have established strong governance mechanisms to ensure that E&S considerations form a key part of any investment decision making.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Uganda and Kenya
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
- June 2016
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.