In July 2016, CDC announced a $55 million equity investment in AIG.
Our capital injection is helping AIG improve its existing payment and logistics operations, boost local trade revenues and create additional jobs, as well as expand into new countries.
Our focus has been in supporting the business’s expansion into financial services, as well as its development of local manufacturing in key African markets.
With hardly any organised retail and little infrastructure, Jumia’s innovations are opening up new opportunities and setting new standards in African trade and ecommerce. Since its inception, Jumia has served more than 10 million consumers.
Jumia’s marketplace targets informal and small traders: 90 per cent sell less than $1,000 per month. Exchanges are underpinned by an extensive logistics network and convenient payment solutions that operates at an unprecedented scale across the continent. Consumers who create a Jumia wallet can access digital and financial services such as airtime recharge and utility payments.
In addition to direct job creation, Jumia operates a network of over 50,000 sales agents, known as the J-Force. Currently largely Nigeria-based, the J-Force is expanding into other countries, providing a route to engagement with the formal economy for many informal traders.
Jumia Group already has over 4,000 employees and it is expected that Jumia Services, the group's logistics business, will generate thousands of new delivery jobs by 2020.
Environmental and social aspects
We are supporting the company to develop an environmental and social management system and implement a code of conduct for its suppliers in line with the Ethical Trading Initiative's Base Code.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
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.
- Other consumer services
- 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.