CDC Group changing its name; to scale up its investments in Africa
CDC is the UK Government’s international impact investor with a mission to help solve the biggest global development challenges by investing patient, flexible capital to support private-sector growth and innovation.
CDC is changing its name to British International Investment. The new name signifies the increased breadth of what the organisation already does and highlights its role as part of the UK Government’s international financing offer, working to bring not just capital, but the highest levels of governance, standards and transparency to its investments.
Entering a new five-year strategy period
CDC operates in five-year strategy periods, which are agreed and ratified by its shareholder, the Foreign Commonwealth and Development Office, part of the UK Government. Its next strategy period begins on 1 January 2022 and runs until the end of 2026. The aim is to invest £1.5 – £2 billion per annum over the period.
Having invested £4 billion in Africa since 2017, CDC’s new strategy builds on its 74-year history and track record of investing for impact and sets a new ambition for scale in Africa, digital transformation, and innovation.
CDC will invest across a range of vital sectors that catalyse new global opportunities and address complex development challenges, such as infrastructure, which is critical to raising productivity and competitiveness and improving the livelihoods of communities and cities across the continent.
CDC’s infrastructure investee partners include Globeleq, a leading independent power producer with investments in Cuamba (Mozambique), Benban Solar Park (Egypt) and Malindi Solar Group (East Africa); Liquid Telecom the largest independent fibre and cloud provider in Africa; and its recent Gateway partnership that sees CDC collaborating with DP World to chart a stronger course for African trade around the world.
Nick O’Donohoe, chief executive of CDC said, “Building on CDC’s legacy, British International Investment will make investments that support the aspirations of entrepreneurs and businesses in a responsible and transparent manner.
“We will be a trusted partner to some of the countries across our markets that want to create sustainable and prosperous futures for their people. We will deliver on the UK’s promise to support emerging economies to combat the climate emergency and track the impact of each investment to ensure every penny is used productively.”
CDC will formally become British International Investment plc on 4 April 2022.
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