CDC Group, the UK’s development finance institution, has exceeded its 2020 commitment to invest GBP2 billion in Africa over the last two years.
CDC Group, the UK’s development finance institution, has exceeded its 2020 commitment to invest GBP2 billion in Africa over the last two years.
The company, which is soon to be renamed British International Investment (BII), has invested close to GBP2.2 billion in total in African businesses in 2020 and 2021, despite the unprecedented upheaval caused by the Covid pandemic.
Last year saw CDC/BII make its largest ever deal in Africa – a partnership with DP World worth up to USD1.7 billion – to significantly boost the continent’s ability to trade globally by expanding its port capacity. Other key investments include Liquid Telecom, that is building a pan-African fibre-optic network, and in the Global Partnership for Ethiopia, a consortium led by Vodafone to build a new, world class mobile network in Ethiopia.
Investing in clean infrastructure will be central to BII’s strategy over the next five year period. At least 30 per cent of total investment by value will go into climate finance.
