CDC Group, Finnfund make $70m commitment to foster growth across Africa

2nd July 2020

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

The CDC Group and Finnfund have made a $70-million commitment to AfricInvest Fund IV, a generalist Pan-African fund aiming to foster the growth of African enterprises across the continent.

Fund IV will invest in mid-cap and growth-oriented companies in sectors including financial services, agribusiness, logistics, manufacturing, healthcare and education. 

CDC, the UK’s impact investor and development finance institution, committed $50-million and Finnfund, the Finnish development financier, committed $20-million.

With offices in cities such as Abidjan, Cairo, Casablanca, Lagos, Nairobi and Tunis, AfricInvest has one of the most comprehensive track records in African private equity, having made over 160 investments in 25 African countries through several funds.

CDC and Finnfund’s investments strengthen their long-standing relationships with AfricInvest and anchor the fund’s first close at $202-million. These commitments come at a particularly challenging time and will enable AfricInvest to invest in promising, growth-oriented companies, creating up to 2 500 jobs across the continent.

AfricInvest is committed to the management of environmental and social risks, as well as environmental, social and governance integration throughout its investment decision-making process.

CDC and Finnfund’s commitments will contribute to the UN’s Sustainable Development Goals, particularly Goal 8 on Decent Work and Economic Growth.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION