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CDC returns GBP207m in 2009

Preliminary figures show that CDC Group, the UK’s development finance institution, made a return of GBP207m and invested GBP359m in businesses in developing countries in 2009. 

2009 marked the start of CDC’s new five-year investment policy which will see it make at least 75 per cent of new investments in low income countries and 50 per cent in sub-Saharan Africa.
 
During 2009, CDC made a GBP207m total return (after tax), which has lead to a rise in net assets to GBP2.5bn.

It invested GBP359m of which 61 per cent was invested in Africa and 34 per cent in Asia.

It also committed capital of GBP207m to 11 new investment funds, and generated GBP162m of cash from its portfolio for future re-investment in developing countries.

CDC’s results also show that at the end of 2009 its capital had been invested in 794 companies located in 71 countries. These companies directly employ at least 750,000 people and pay local taxes of more than USD3bn a year.
 
Richard Laing, chief executive of CDC, says: “These are positive results which show that, despite the tough conditions caused by the global downturn, the companies in which CDC has a stake are performing well. We are now invested in 134 funds with 65 fund managers, with over GBP1.5bn of commitments still available to be drawn down by these funds for new investments in the world’s developing economies. Our profits will be recycled into these new investments.”

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