This investment was made when British International Investment was named CDC Group.
Our investment
Description of the investment.
Description of the investment.
CDC made its first investment of $15.0 million in Takura II in 2013. In 2016 we committed an additional $7.5 million to the fund as part of a $25 million rights issue, which boosted the size of the fund from $50 million to $75 million.
The fund looks to make investments of between $3 million to $7 million.
Our investment will provide a much-needed pipeline of finance for businesses that are key to Zimbabwe’s economic recovery and the economic resurgence in the SADC.
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.
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.
Over the past few years, Zimbabwe’s economy has been starved of capital and lack of finance is one of the biggest constraints that businesses face.
Our investment enables the fund manager to make investments in small- and medium-sized enterprises in key sectors that, in turn, create direct and indirect jobs.
It also helps to generate government revenue, supporting the country’s nascent recovery. The fund manager also provides valuable intellectual capital, particularly in finance and reporting, as well as governance frameworks to support investee companies.
Environmental and social information
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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.
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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
The fund manager has a well-established approach to environmental and social management and we will continue to support and monitor its approach as the portfolio grows.
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
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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.
- D292
- 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, Construction & Real estate, Consumer - Education, Consumer - Health, Consumer - other services, Financial services, Food & Agriculture, Infrastructure
- Investment type :
- Fund
- Start date :
- November 2016
- Amount :
- $7.5m
- Currency of investment :
- USD
- Fund Manager:
- Takura Capital
- Domicile
:
The company or investment fund’s place of incorporation.
- South Africa
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.
- Last updated
Related investments made by BII into this fund:
| Investment name | Commitment | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| Investment 01 | $15m | Africa | Communications & IT services, Construction & Real estate, Consumer - Education, Consumer - Health, Consumer - other services, Financial services, Food & Agriculture, Infrastructure | September 2013 | Active |
Investments made by this fund into companies:
For further information about these companies, visit www.takuracapital.com
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| African Century Real Estate | Mozambique | East Africa | Construction & Real estate | November 2015 | Active |
| Agricom | Zimbabwe | Southern Africa | Food & Agriculture | March 2014 | Exited |
| Cailogistics | Zimbabwe | Southern Africa | Infrastructure | August 2016 | Active |
| Cailomarketing Services | Zimbabwe | Southern Africa | Consumer - other services | August 2016 | Active |
| Cairns Holdings | Zimbabwe | Southern Africa | Food & Agriculture | September 2015 | Active |
| Capital Factor | Zimbabwe | Southern Africa | Financial services | September 2017 | Active |
| Introwise | Zimbabwe | Southern Africa | Consumer - other services | August 2014 | Active |
| Lobels Holdings (Pvt) Ltd (including Plaza) | Zimbabwe | Southern Africa | Food & Agriculture | March 2015 | Active |
| Medical Investments Limited | Zimbabwe | Southern Africa | Consumer - Health | September 2014 | Exited |
| Montana Meats (Pvt) Ltd | Zimbabwe | Southern Africa | Food & Agriculture | March 2014 | Active |
| NH 263 | Zimbabwe | Southern Africa | Communications & IT services | July 2017 | Exited |
| Oak Ed (PVT) Ltd and Vantage Properties (PVT) Ltd | Zimbabwe | Southern Africa | Consumer - Education | November 2017 | Active |
| Plaza Bread (Pvt) Ltd | Zimbabwe | Southern Africa | Food & Agriculture | November 2017 | Exited |
| Sinopse Holdings Limited (Food Lover’s Market) | Mozambique | East Africa | Food & Agriculture | July 2014 | Exited |
| Talwant Trading (Pvt) Ltd | Zimbabwe | Southern Africa | Food & Agriculture | February 2015 | Exited |
