In the same year, we invested in Tanganyika Wattle Estates. The company established a high-altitude hybrid type of maize, resulting in Tanzania’s national seed company.
In the same year, the Housing Finance Company of Kenya was set up by British International Investment and the Kenyan Government. We also established the Development Finance Company of Uganda.
We also backed Sify, the first Indian IT company to be listed on the NASDAQ Stock Exchange.
We commited to becoming the most developmental DFI: tackling market failures that hold back development such as access to medicines, boosting power transmission and distribution, supporting women’s economic empowerment, and finding new ways to mobilise even more capital to meet the needs of developing countries.
We were renamed as British International Investment. The new name signifies the increased breadth of what the organisation does and highlights our role as part of the UK's offer to help developing and emerging countries meet their significant financing needs for infrastructure and enterprise.