British International Investment

Takura II

MozambiqueZimbabweAfricaCommunications & IT servicesConstruction & Real estateConsumer - EducationConsumer - HealthConsumer - other servicesFinancial servicesFood & AgricultureInfrastructure

The Takura II fund focuses on scalable businesses in the agro-processing, FMCG, retail, healthcare, pharmaceuticals, real estate and business services sectors.

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

Our investment

Description of the investment.

CDC made its first investment of $15.0 million in Takura II in 2013. In 2016 we committed an additional $7.5 million to the fund as part of a $25 million rights issue, which boosted the size of the fund from $50 million to $75 million.

The fund looks to make investments of between $3 million to $7 million. 

Our investment will provide a much-needed pipeline of finance for businesses that are key to Zimbabwe’s economic recovery and the economic resurgence in the SADC.

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.

Over the past few years, Zimbabwe’s economy has been starved of capital and lack of finance is one of the biggest constraints that businesses face.

Our investment enables the fund manager to make investments in small- and medium-sized enterprises in key sectors that, in turn, create direct and indirect jobs.

It also helps to generate government revenue, supporting the country’s nascent recovery. The fund manager also provides valuable intellectual capital, particularly in finance and reporting, as well as governance frameworks to support investee companies.

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

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.

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.

    :
    D292
    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.

    :
    Communications & IT services, Construction & Real estate, Consumer - Education, Consumer - Health, Consumer - other services, Financial services, Food & Agriculture, Infrastructure

    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 :
    November 2016
    Amount :
    $7.5m
    Currency of investment :
    USD
    Fund Manager:
    Takura Capital
    Domicile

    The company or investment fund’s place of incorporation.

    :
    South Africa

Related investments made by BII into this fund:

Investment name Commitment Region Sector Start date Status
Investment 01 $15m Africa Communications & IT services, Construction & Real estate, Consumer - Education, Consumer - Health, Consumer - other services, Financial services, Food & Agriculture, Infrastructure September 2013 Active

Investments made by this fund into companies:

For further information about these companies, visit www.takuracapital.com

Investment name Country Region Sector Start date Status
African Century Real Estate Mozambique East Africa Construction & Real estate November 2015 Active
Agricom Zimbabwe Southern Africa Food & Agriculture March 2014 Exited
Cailogistics Zimbabwe Southern Africa Infrastructure August 2016 Active
Cailomarketing Services Zimbabwe Southern Africa Consumer - other services August 2016 Active
Cairns Holdings Zimbabwe Southern Africa Food & Agriculture September 2015 Active
Capital Factor Zimbabwe Southern Africa Financial services September 2017 Active
Introwise Zimbabwe Southern Africa Consumer - other services August 2014 Active
Lobels Holdings (Pvt) Ltd (including Plaza) Zimbabwe Southern Africa Food & Agriculture March 2015 Active
Medical Investments Limited Zimbabwe Southern Africa Consumer - Health September 2014 Exited
Montana Meats (Pvt) Ltd Zimbabwe Southern Africa Food & Agriculture March 2014 Active
NH 263 Zimbabwe Southern Africa Communications & IT services July 2017 Exited
Oak Ed (PVT) Ltd and Vantage Properties (PVT) Ltd Zimbabwe Southern Africa Consumer - Education November 2017 Active
Plaza Bread (Pvt) Ltd Zimbabwe Southern Africa Food & Agriculture November 2017 Exited
Sinopse Holdings Limited (Food Lover’s Market) Mozambique East Africa Food & Agriculture July 2014 Exited
Talwant Trading (Pvt) Ltd Zimbabwe Southern Africa Food & Agriculture February 2015 Exited

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