In December 2017, we made a $20 million commitment to ShoreCap III, alongside the African Development Bank, the European Investment Bank, German development bank KfW, and Austrian development bank OeEB. The fund manager raised a total of $62 million for its first round, and expects to make investments of about $8 million per institution. Our investment will be used to support microfinance institutions, small business banks, financial technology (fintech) projects, insurance and housing finance across the region.
A large section of the African population has minimal or no access to affordable financial services, particularly in more rural and less well-connected areas.
Our investment will enable the fund manager to increase access to affordable and responsible financial products and services for the underserved African market.
It will also support businesses looking to use innovative technologies to drive geographical expansion, including fintech firms that deliver cross-border financial services.
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.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Equator Capital Partners
- 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
- December 2017
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.
Investments made by this fund
|Investment name||Country||Region||Sector||Start date||Status|
|MFS Africa||Africa||Financial services||December 2018||Active|