Africinvest II

Senegal, Burkina Faso, Nigeria, Kenya, Cote d'Ivoire, Libya, Mauritius, Ghana, Cameroon, Tunisia Other consumer services, Financial services, Education, Others, Food and agriculture, Health, Communications and IT Services, Manufacturing

AfricInvest is an investment and financial services company based in Tunisia. Founded in 1994, it has dedicated investment teams focused on Africa, and employs 70 professionals based in nine offices.  The firm has two dedicated investment platforms for North Africa and sub-Saharan Africa, respectively.

Pan-African generalist fund investing in SMEs and lower mid-market companies.

This investment was made when British International Investment was named CDC Group. It was also was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.


We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

Communications and IT Services, Education, Financial services, Food and agriculture, Health, Manufacturing, Other consumer services, Others
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Fund manager:
Start date

For direct investments, this is the date British International Investment committed capital to the business or project.

For funds, this is the date that British International Investment committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

August 2008

For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that British International Investment has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.


Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status
LaGray Chemical Company

LaGray Chemical operates its own plant that manufactures pharmaceuticals in Ghana.

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Ghana Africa, West Africa Health February 2009 Active
Reef Hout

Reef Hout is involved in the FSC timber industry, specialising in the exploitation, production and distribution of timber in Cameroon.

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Cameroon Africa, Central Africa Manufacturing August 2009 Active
Alpha West Africa Ltd (UAB)

Alpha West Africa Ltd is a special purpose vehicle incorporated in Mauritius that controls two insurance companies in Burkina Faso.

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Burkina Faso Africa, West Africa Financial services April 2010 Active

Alminko is a company based in Senegal that produces home and personal care products, for example, bar soap for home care and body washing and liquid household cleaner.

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Senegal Africa, West Africa Other consumer services January 2011 Active
Assur Africa Holding/GTAssurance Nigeria Africa, West Africa Financial services December 2011 Active

Tejra produces and distributes bricks and ceramic products such as floor and wall tiles.

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Tunisia Africa, North Africa Manufacturing April 2012 Active
Broron Oil & Gas

Broron Oil and Gas Limited is an indigenous oil and gas offshore services company which provides offshore support services to international oil companies, independent and indigenous upstream companies in Nigeria and the Gulf of Guinea

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Nigeria Africa, West Africa Others December 2013 Active
Bridge Group West Africa

Bridge Group West Africa is a holding company which has a majority equity stake in Bridge Bank Cote d'Ivoire and a minority equity stake in a bank in Senegal.

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Senegal Africa, West Africa Financial services March 2014 Active

We are now British International Investment