Tech in Africa
CDC Group is planning on investing $1billion into Africa by 2021. This will help it establish a strong investment place in the continent while providing countercyclical funding to the local communities and businesses. As a committed impact investor, CDC and DFI will support the sustainable long-term growth of businesses across Africa and South Asia.
The investment will see CDC invest in promising African SMEs and entrepreneurs while driving forward an agenda of growth and job creation across the continent. At the moment, over half of the institutions’ portfolio has been invested. Funding will likely go into climate services and infrastructure, financial institutions, agriculture, manufacturing, real estate, and technology.
In 2020, CDC will invest $1 billion into the continent with a focus on its economic recovery after the pandemic wrecked lots of havoc. Thus far, CDC has injected systemic liquidity into the financial markets and given capital to companies providing critical services, made commitments to African funds, and helping existing investees to turn over a profit.
CDC has also unveiled the UK-Africa Investment Conference aimed at expanding its African portfolio with new investments in Nigeria, Ethiopia, Egypt, and Kenya. This also applies to the harder-to-reach frontier markets where there is a lot to gain in terms of development. Find out more on the developments at the CDC Group press release.
