CDC Group has launched a 5 year strategy to build on evolving market dynamics, commitment to Africa and new ambitions for investing in innovation and digital transformation.
The Group’s next strategy period begins on 1st January, 2022 and runs until the end of 2026. The aim is to invest Ksh. 224 billion to Ksh. 299 billion (£1.5 – £2 billion) per annum over the period.
CDC will invest in vital sectors that catalyze new global opportunities and address complex development challenges. These include infrastructure to raise productivity and competitiveness and improving the livelihoods of communities and cities across the continent.
This strategy will enable CDC to go further and add new markets in South East Asia and the Caribbean.
It focuses on climate investment including in the Indo-Pacific region, specifically in the larger economies of Philippines, Indonesia and the Mekong region, with special emphasis on the renewables sector.
Additionally, the strategy will bring British finance, innovation, ethics, and standards to create sustainable and equitable economic outcomes for those that are most in need of investment support.
CDC’s infrastructure investee partners include the following
- Globeleq, an independent power producer with investments in Cuamba, Mozambique
- Benban Solar Park in Egypt
- Malindi Solar Group in East Africa
- Liquid Intelligent Technologies
In addition to the new strategy launch, CDC appointed Diana Layfield its first female Chair in its 73 year history. She will succeed Sir Graham Wrigley who was appointed in 2013 and will be stepping down in early 2022 after a transitional period.
The Group also announced that it will be changing its name to British International Investment on 4th April, 2022. The new name signifies the increased breadth of its role as part of the UK Government’s international financing offer, working to bring transparency to its investments.
Commenting on the new strategy, Nick O’Donohoe, CEO of CDC said, “Building on CDC’s legacy, British International Investment will make investments that support the aspirations of entrepreneurs and businesses in a responsible and transparent manner. We will be a trusted partner to some of the countries across our markets that want to create sustainable and prosperous futures for their people. We will deliver on the UK’s promise to support emerging economies to combat the climate emergency and track the impact of each investment to ensure every penny is used productively.”