This investment was made when British International Investment was named CDC Group.
We have now exited this investment. This is what we achieved.
In 2014, we invested in the Kribi and Dibamba independent power plants, as part of a consortium with Actis and Globeleq. Kribi and Dibamba are power plants in Cameroon with capacities of 216 megawatts (MW) and 88MW, respectively. These two assets provided much needed low-cost power in the country, creating job and economic opportunities.
At the time of our investment, the electrification rate in Cameroon was 50 per cent and there was a need to expand access to electricity. Actis aimed to bring new connections to more vulnerable groups.
When we took control of Globeleq in partnership with Norfund, the Norwegian DFI, in 2015, we ceased to hold a direct investment in the plants, but increased our indirect exposure through Globeleq.
Kribi and Dibamba are power plants in Cameroon with capacities of 216 megawatts (MW) and 88MW, respectively. CDC first invested in the plants as part of a consortium with Actis and Globeleq in 2014. When BII took control of Globeleq in partnership with Norfund, the Norwegian DFI, in 2015, BII ceased to hold its investment in the plants directly but increased its indirect exposure through Globeleq. Globeleq is the largest private developer, owner and operator of independent power plants in sub-Saharan Africa.
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]
- Last updated
When the last quarterly update of the website database occurred.
- January 2024
- Project number
An identifier number shared by investments in the same project.
The current status of the investment (green flag for active and red flag for exited).
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.
- Central Africa
The countries from which we derive the value of our investment. Where value is derived from multiple countries, this is indicated.
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.
- Investment type :
- Start date :
- June 2014
- End date :
- September 2015
- Amount :
- Currency of investment :
The company or investment fund’s place of incorporation.
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.
- Last updated