Single Credit Loan 3 (Swastik Fruits & Aqua Limited)

India Food and agriculture

  • Active
  • Exited

Our investment

In 2018, CDC and Standard Chartered signed a five-year risk sharing facility in which they will share the default risk on up to $100 million of new loans originated by Standard Chartered Bank Zimbabwe in the southern African state. The investment will be used for capital expenditure and for helping businesses meet their day-to-day financing needs. The likely recipients will include firms in the food processing, manufacturing and agriculture sectors.

Expected impact

The risk-sharing agreement provides much needed foreign currency capital for local businesses, allowing them to grow, create jobs and improve the country’s economic future.

The agreement has been established at a time (in 2018) when the Zimbabwean private sector faces a critical shortage of foreign currency for import of raw materials and other essentials after many years of economic decline. Local banks are unable to provide the capital needed by the mainstays of the Zimbabwean economy such as agribusiness and manufacturing, which are vital to the country’s economic growth and foreign currency generation from export markets. Zimbabwe has suffered through a 20-year economic crisis, which has resulted in an acute economic downturn and hyper-inflation that wiped out the Zimbabwean Dollar. Lending activities have been severely hampered in the country, and even more constrained given persistent currency shortages and limited external funding lines to banks.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa
Sector

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
Website:
https://www.sc.com/en/
Investment type

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

:
Direct Debt
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.

:
$27m
Domicile

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

:
United Kingdom

This investment was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

India Infrastructure Fund

We are invested in GMR Kamalanga Fund Energy through India Infrastructure Fund, which is managed by IDFC Project Equity. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

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.

:
Infrastructure
Investment type

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

:
Intermediated investment
Fund:
India Infrastructure Fund
Fund Manager:
IDFC Project 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

:
December 2009

This investment was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

International Asset Reconstruction Fund 1 Trust

We are invested in Single Credit Loan 3 (Swastik Fruits & Aqua Limited) through International Asset Reconstruction Fund 1 Trust, which is managed by International Asset Reconstruction Company. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

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.

:
Financial services, Food and agriculture, Other consumer services
Investment type

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

:
Intermediated investment
Fund:
International Asset Reconstruction Fund 1 Trust
Fund Manager:
International Asset Reconstruction Company
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

:
September 2011

Investec Africa Credit Opportunities Fund

We are invested in PTA Bank - Eastern and Southern African Trade and Development Bank through Investec Africa Credit Opportunities Fund, which is managed by Investec Asset Management. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa
Sector

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.

:
Financial services
Investment type

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

:
Intermediated investment
Fund:
Investec Africa Credit Opportunities Fund
Fund Manager:
Investec Asset Management
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 2015

MicroVest GMG Local Credit Fund Limited

We are invested in Satin through MicroVest GMG Local Credit Fund Limited, which is managed by MicroVest GMG Capital Management. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

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.

:
Financial services
Investment type

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

:
Intermediated investment
Fund:
MicroVest GMG Local Credit Fund Limited
Fund Manager:
MicroVest GMG Capital Management
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

:
September 2015

Abraaj Growth Markets Health Fund

We are invested in Quality Care India Limited through Abraaj Growth Markets Health Fund, which is managed by Abraaj Capital. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

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.

:
Health
Investment type

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

:
Intermediated investment
Fund:
Abraaj Growth Markets Health Fund
Fund Manager:
Abraaj Capital
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

:
February 2016