This investment was made when British International Investment was named CDC Group.
Our investment in iMerit underlines our commitment to back companies that are creating skilled jobs, particularly for women, in regions where they are most needed. Advances in AI technology are normally seen as a threat to jobs, but iMerit has demonstrated that the opposite is true.
Promote economic inclusion by creating jobs for the bottom 60 per cent of the population (SDG 10.1 & 10.2 & SDG 8.2, 8.5).
Our capital will create jobs through business expansion and consistent wage increases, along with supporting growth of ‘impact workforce’.
80 per cent of the workers employed by iMerit reside in some of the poorest States in India and Bhutan. In India, 70 per cent of employees work outside tier 1 or 2 cities.
About 50 per cent of iMerit’s employees live under $5.5 per person per day while 52 per cent of the workforce identify as female.
We anticipate that the company will create 9.000 new jobs over the lifetime of our investment. In terms of absolute number of jobs created per $1 million revenue, iMerit’s scale corresponds to the top quartile of all our investments made.
An end-beneficiary impact study that we conducted with a third-party in 2021 confirmed that the impact thesis at the time of investment holds true and that iMerit is deepening its impact over time.
To help us direct our investments, we use a tool called the Development Impact Grid. The Grid scores every investment we plan out of a score of four, based on two factors: the difficulty of investing in the country and whether investment in that sector will lead to jobs.
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Bhutan, India
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.
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Equity
- 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 2019
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.
This is the investee company’s place of incorporation; or a fund’s jurisdiction.