British International Investment

African Development Partners II

AfricaAlgeriaCote d'IvoireEgyptMoroccoNigeriaSouth AfricaAfricaCommunications & IT servicesConsumer - EducationConsumer - other servicesFinancial servicesInfrastructureManufacturing

The Africa Development Partners II Fund is a pan-African fund which focuses on high-growth companies targeting Africa’s rising consumer class.

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

In July 2013, CDC committed $75 million to the Africa Development Partners II Fund. The fund makes investments which typically range from $20 million to $70 million. Our investment will provide much-needed growth capital to support the expansion of African businesses.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

Despite rising foreign direct investment in the African continent, investment can still be hard to come by for many firms in the private sector.

Our investment enables the fund manager to support African companies that can benefit from strong growth – including regional expansion – in industries catering to the region’s rapidly expanding middle-class. This includes companies in the consumer goods, financial services, retail, logistics and healthcare sectors.

DPI has successfully expanded businesses out of its primary markets into less developed countries. For example, investee company Letshego, a Botswana-based financial services provider, now offers accessible consumer finance and micro-finance to consumers and businesses in Botswana, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Swaziland, Tanzania and Uganda.

DPI has also finalised an investment and strategic partnership with Egypt’s leading household appliances and consumer electronics retailer, B.Tech.

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We are working closely with the fund manager to improve its existing ESMS, including delivering an action plan.

Understanding our approach to environmental and social risk (PDF)

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at enquiries@bii.co.uk

  • Key facts
    Last updated

    When the last quarterly update of the website database occurred.
    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.
    :
    D96
    Status

    The current status of the investment (green flag for active and red flag for exited).
    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
    :
    Africa
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Communications & IT services, Consumer - Education, Consumer - other services, Financial services, Infrastructure, Manufacturing

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.
    Investment type :
    Fund
    Start date :
    July 2013
    Amount :
    $75m
    Currency of investment :
    USD
    Fund Manager:
    Development Partners International
    Domicile

    The company or investment fund’s place of incorporation.
    :
    Guernsey

    Download as PDF

    Click here to read our data guidance

Investments made by this fund into companies:

For further information about these companies, visit http://www.dpi-llp.com

Investment name Country Region Sector Start date Status
B-Tech Egypt North Africa Consumer - other services June 2016 Exited
Banque Atlantique (ABI) Cote d'Ivoire West Africa Financial services December 2017 Active
Compagnie Marocaine de Goutte a Goutte et de Pompage (CMGP) Morocco North Africa Manufacturing September 2018 Active
Dolidol Morocco North Africa Manufacturing October 2018 Active
Egyptian German Industrial Corporate (EGIC) Egypt North Africa Manufacturing April 2017 Active
ETW Holdings Limited/Eaton Venture LLP Africa Africa Communications & IT services June 2015 Exited
Food Concepts Plc Nigeria West Africa Consumer - other services July 2018 Active
General Emballage Algeria North Africa Manufacturing July 2016 Active
HomeChoice Holdings Limited South Africa Southern Africa Consumer - other services December 2014 Active
IFS (International Facilities Services) Africa Africa Consumer - other services January 2019 Active
KMR Holdings Pedagogique (KMR) Morocco North Africa Consumer - Education March 2014 Active
MNT Investments Egypt North Africa Financial services August 2018 Active
RTT South Africa Southern Africa Infrastructure June 2014 Active

Back to investments

How we invest

Find out more

Portfolio data

Find out more

Subscribe to receive our latest news and updates

Sign-up here