This investment was made when British International Investment was named CDC Group.
Our investment
In December 2017, we made a $20 million commitment to ShoreCap III, alongside the African Development Bank, the European Investment Bank, German development bank KfW, and Austrian development bank OeEB. The fund manager raised a total of $62 million for its first round, and expects to make investments of about $8 million per institution. Our investment will be used to support microfinance institutions, small business banks, financial technology (fintech) projects, insurance and housing finance across the region.
Expected impact
A large section of the African population has minimal or no access to affordable financial services, particularly in more rural and less well-connected areas.
Our investment will enable the fund manager to increase access to affordable and responsible financial products and services for the underserved African market.
It will also support businesses looking to use innovative technologies to drive geographical expansion, including fintech firms that deliver cross-border financial services.
Environmental and social aspects
The fund manager has a well-established approach to environmental and social management and we will continue to support and monitor its approach as the portfolio grows.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- Africa
- Sector
:
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.
- Financial services
- Website:
- http://www.equatorcap.net/
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Equator Capital Partners
- 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
- December 2017
- Amount
:
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.
- $20m
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- Mauritius
Investments made by this fund
- Active
- Exited
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| MFS Africa | Africa | Financial services | December 2018 | Active | |
|
BRAC Uganda
BRAC Uganda Bank Limited, is a credit institution in Uganda. |
Uganda | Africa, East Africa | Financial services | April 2019 | Active |
