British International Investment

Regional Education Finance Fund for Africa

AfricaBotswanaBurkina FasoCote d'IvoireGhanaKenyaMaliMauritiusNigeriaSenegalTanzaniaZambiaAfricaConsumer - EducationFinancial services

The Regional Education Finance Fund for Africa was set up by KfW in 2012 with a $27 million investment. The fund provides long-term debt to financial institutions in Africa for on-lending to affordable, private education providers offering primary, secondary and tertiary education as well as for individual school fee loans to parents and students.

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

Our investment

Description of the investment.

The Regional Education Finance Fund for Africa was set up by KfW in 2012 with a $27 million investment. The fund provides long-term debt to financial institutions in Africa for on-lending to affordable, private education providers offering primary, secondary and tertiary education as well as for individual school fee loans to parents and students.

In May 2018, CDC committed $15 million to REFFA.

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.

The fund will address the financing gap to private education by building the capacity of local financial institutions to lend to education providers and students. It will improve access to affordable and high quality education.

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.
    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.
    :
    D2250
    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.

    :
    Consumer - Education, 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 :
    May 2018
    Amount :
    $15m
    Currency of investment :
    USD
    Fund Manager:
    Blue Orchard Finance SA
    Domicile

    The company or investment fund’s place of incorporation.
    :
    Luxembourg

    Click here to read our data guidance

Investments made by this fund into companies:

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

Investment name Country Region Sector Start date Status
Access Bank Plc Nigeria West Africa Financial services March 2024 Active
Advans Cote d’Ivoire Cote d'Ivoire West Africa Financial services September 2017 Exited
Advans Holding Nigeria West Africa Financial services December 2023 Active
Advans Nigeria Nigeria West Africa Financial services July 2021 Exited
African Microfinance Limited Tanzania East Africa Financial services December 2023 Active
Baobab Mali Mali West Africa Financial services June 2023 Active
Bayport Botswana Botswana Southern Africa Financial services March 2019 Active
Bayport Botswana Botswana Southern Africa Financial services June 2021 Exited
Bayport Ghana Ghana West Africa Financial services July 2018 Active
Bayport Management Limited Mauritius East Africa Financial services December 2022 Active
Bayport Tanzania Tanzania East Africa Financial services March 2021 Active
Bayport Tanzania Tanzania East Africa Financial services June 2022 Exited
EdPartners Limited Kenya East Africa Financial services November 2023 Active
EFC Zambia Zambia Southern Africa Financial services September 2023 Active
ENDA Tamweel Africa, Tunisia Africa, North Africa Financial services March 2020 Active
Family Bank Kenya East Africa Financial services December 2021 Active
Fanikiwa Tanzania Tanzania East Africa Financial services September 2023 Active
Fidelis Finance Burkina Faso West Africa Financial services December 2020 Active
Fidelis Finance Burkina Faso West Africa Financial services June 2021 Exited
Izwe Ghana Ghana West Africa Financial services February 2020 Exited
Izwe Zambia Zambia Southern Africa Financial services June 2023 Active
Letshego Botswana Botswana Southern Africa Financial services December 2020 Active
Letshego Ghana Ghana West Africa Financial services June 2021 Active
Letshego Kenya Limited Kenya East Africa Financial services May 2021 Active
MyCredit Kenya Kenya East Africa Financial services June 2023 Active
PAMECAS Senegal West Africa Financial services October 2023 Active
Regional Education Finance Fund for Africa (for DI metrics) Africa Africa Consumer - Education May 2018 Exited
Select Eswatini Eswatini, Kenya, Lesotho, Malawi, Mauritius, Uganda East Africa, Southern Africa Financial services December 2019 Active
Sterling Bank Plc Nigeria West Africa Financial services March 2022 Active
Sumac Microfinance Bank Kenya East Africa Financial services June 2021 Exited
Victoria Finance Tanzania East Africa Financial services September 2023 Active

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