British International Investment

Helios Investors IV

KenyaMauritiusMoroccoSingaporeAfricaEast AfricaNorth AfricaCommunications & IT servicesConsumer - HealthConsumer - other servicesFinancial services

Helios has one of the strongest track records in African private equity across its three predecessor funds, having invested over $3 billion and created over 9,000 new jobs in diverse sectors ranging from financial services to education and telecommunications.

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

Our investment

Description of the investment.

Our investment in this latest fund will be instrumental in accelerating job creation, facilitating sustainable employment, and supporting the recovery from the COVID-19 pandemic by boosting economic growth across the continent. The investment is also aimed at supporting efforts to mobilise capital to African businesses and continued investment in companies across the continent.

Impact information

Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.

What?

Impact

Sustain and create economic opportunities (SDG 8.5).

How?

Primary Secondary

CDC’s investment will support the manager to weathering the COVID-19 crisis, so it can remain a key source of capital and expertise for growing African business, sustaining an important channel for equity investment across some of the continent’s largest economies post-crisis. If the fund succeeds at generating returns that are attractive to commercial investors, it can position the manager to mobilise additional capital in the medium to long-term.

The investment will support the fund in generating business growth, productivity and job creation.

Who?

Stakeholder Geography Characteristics
Employees

Pan-Africa with a likely focus on a cohort of core countries including Nigeria, Kenya, Morocco and Egypt and regional focus (Francophone West and East Africa).

Variable subject to sector and business model.

How much?

Scale Depth/Duration

c. 1,000 – 3,000 jobs created.

  • Primary impact: Longer-term, requires repeat success for this impact to materialise.
  • Secondary impact: Dependent on sector and characteristics of the stakeholder.

Contribution/additionality

Contribution/additionality
  • Financial additionality: The commercial market does not offer capital in sufficient quantities to meet the company s plans and needs.
  • Value additionality: We are supporting the manager to strengthen environmental, social and governance processes and systems across investee companies.
  • Mobilisation: Our commitment is a positive signal to other investors

Grid score

Grid Score

To help us direct our investments, we previously used a tool called the Development Impact Grid. It scored investments out of four, based on two factors: the difficulty of investing in a country and the propensity of the sector to generate employment. This tool was used for investments until the end of 2021. Since 2022 it has been replaced by the Impact Score.

2.3-2.9

Risk

External Risk
  • Investors remain averse to investing in the African private equity market due to perceived market risk or macro-economic dynamics.
Execution Risk
  • The impact case relies on the manager's ability to deliver growth across investees.
Alignment Risk
  • The impact case also requires that the growth to investees’ businesses leads to job creation.

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.

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 [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    March 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D4075
    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, East Africa, North 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 - Health, Consumer - other services, Financial services

    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 :
    June 2020
    Amount :
    $100m
    Currency of investment :
    USD
    Fund Manager:
    Helios Investment Partners
    Domicile

    The company or investment fund’s place of incorporation.

    :
    Cayman Islands

Investments made by this fund into companies:

For further information about these companies, visit https://www.heliosinvestment.com/

Investment name Country Region Sector Start date Status
Africa Speciality Risks Mauritius East Africa Financial services September 2020 Active
BIM Stores Morocco Morocco North Africa Consumer - other services May 2021 Active
IX Africa Kenya East Africa Communications & IT services December 2022 Active
Maroc Data Centre Limited Morocco North Africa Communications & IT services December 2023 Active
T2S Group Morocco North Africa Consumer - Health December 2021 Active
TTMFS Singapore Pte. Ltd. Singapore Rest of the World Financial services July 2020 Active

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