The UK Impact Investor and Development Finance Institute (DFI) CDC Group has publicly announced a commitment to invest over US$1 billion in businesses domiciled in Africa again in 2021.
This pledge is expected to encourage CDC to invest in many more promising African companies and SMEs. This will also continue to promote inclusive growth and job creation across Africa, where over half of the CDC’s portfolio is now being invested.
Financial institutions, infrastructure and environment, services, manufacturing, agriculture, real estate and technology are among the sectors to which this investment will be applied.
At the UK-Africa Investment Conference, CDC notified to public of its plans to expand its Africa portfolio with fresh investments in major markets, which includes Egypt, Ethiopia, Kenya, Nigeria and even other hard-to-reach frontier markets of the continent with potential for significant gains.
In the course of the past three years, CDC has poured over £2.7 billion in African companies, making it the world’s biggest bilateral growth investor in Africa.
In 2019 alone, over 320,000 direct jobs in Africa were created and funded by CDC investments, increasing taxes to local economies by close to US$1.5 billion.
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