This investment was made when British International Investment was named CDC Group.
We have now exited this investment. This is what we achieved.
Achieved impact
This information will appear shortly
Expected impact
In late 2013, CDC invested $18.1 million in Feronia to support the revival of its existing plantation business in the DRC (i.e. Plantations et Huileries du Congo SA or “PHC”), which provides thousands of direct jobs and social infrastructure in some of the country's remotest communities. A sum of $3.6 million was ring-fenced for an environmental and social governance loan. CDC has made a number of follow-on investments over the years taking our total investment into the company to over $80m. In 2020, CDC exited its equity stake. We remained as a lender to PHC alongside other DFIs until 2022.
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.
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 |
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How?
How? |
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Direct: CDC’s investment will support the revival of the company’s abandoned plantations through replanting and making other investments that are necessary to create a commercially viable palm oil business. Between 2013 and 2020, production increased by over 500 per cent due to the construction of two new mills at a cost of almost $28 million and an investment of $39 million on new trees and other agricultural improvements. |
Who?
Stakeholder | Geography | Characteristics |
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Employees |
DRC (category ‘A’ country); PHC’s three plantations – Lokutu, Yaligimba and Boteka – are located in some of the poorest and most remote provinces of the DRC (Equateur and Orientale). |
Mostly low-skilled agricultural labour. |
Communities |
DRC (category ‘A’ country); PHC’s three plantations – Lokutu, Yaligimba and Boteka – are located in some of the poorest and most remote provinces of the DRC (Equateur and Orientale). |
High levels of poverty and reliance on informal employment opportunities and subsistence agriculture. In 2018, 72 per cent of the DRC’s population was living on less than $1.90 per day (World Bank). |
How much?
Scale | Depth/Duration |
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Contribution/additionality
Contribution/additionality |
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'- Financial additionality: Commercial investors have limited appetite to invest in primary agriculture in the DRC.
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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. |
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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]
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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.
- D23
- Status
The current status of the investment (green flag for active and red flag for exited).
- Exited
- 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.
- Central Africa
- Country
The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.
- Democratic Republic of Congo
- 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.
- Food & Agriculture
- Investments :
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Type Amt Curr Start End Debt $3.6m USD 11/2013 12/2021 Equity $14.5m USD 11/2013 11/2020 - Domicile
The company or investment fund’s place of incorporation.
- Canada
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
Related investments made by BII into this company:
Investment name | Commitment | Region | Sector | Start date | Status |
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Investment 02 | $23.28m | Central Africa | Food & Agriculture | January 2015 | Exited |
Investment 03 | $1.8m | Central AfricaCentral Africa | Food & Agriculture | December 2016 | Exited |
Investment 04 | $6.64m | Central AfricaCentral AfricaCentral Africa | Food & Agriculture | June 2018 | Exited |
Investment 05 | $23m | Central AfricaCentral AfricaCentral AfricaCentral Africa | Food & Agriculture | March 2019 | Exited |
Investment 06 | $439.59k | Central AfricaCentral AfricaCentral AfricaCentral AfricaCentral Africa | Food & Agriculture | May 2019 | Exited |
Investment 07 | $4.5m | Central AfricaCentral AfricaCentral AfricaCentral AfricaCentral AfricaCentral Africa | Food & Agriculture | March 2020 | Exited |