Regional Education Finance Fund for Africa (REFFA)

The Regional Education Finance Fund for Africa was set up by KfW in 2012 with a $27 million investment. The fund provides long-term debt to financial institutions in Africa for on-lending to affordable, private education providers offering primary, secondary and tertiary education as well as for individual school fee loans to parents and students.

Our investment

In May 2018, CDC committed $15 million to REFFA.

Expected impact

The fund will address the financing gap to private education by building the capacity of local financial institutions to lend to education providers and students. It will improve access to affordable and high quality education.

Key facts

Status:
Active
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund manager:
Blue Orchard
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

:
May 2018
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.

:
$15m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Luxembourg

Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status