British International Investment is new name of CDC

British International Investment(BII), the UK’s Development Finance Institution and impact investor, is the new name of the former CDC Group.

The name change was first announced by the UK’s Foreign Secretary, Liz Truss, in November and came into effect on 4th April 2022.

British International Investment has a portfolio of more than $4billion in Africa and over 600 valued partnerships with ambitious businesses.

Founded in 1948, the UK’s development finance institution (DFI) invests patient, flexible capital to support private-sector growth and innovation.

In 2022, the DFI announced that it exceeded its pledge to invest £2 billion in Africa over the last two years. British International Investment has a portfolio value of $4.2bn in Africa, with over 600 businesses in the portfolio.

BII will invest between £1.5 and £2 billion per year in green infrastructure, technology and other sectors to support countries in Africa, Asia and the Caribbean.

Situated in seven locations across the Continent, BII has a portfolio value of over $4billion, with over 600 local businesses.

Portfolio highlights include Global Partnership for Ethiopia, FirstBank Nigeria, 14Trees, ETG, AfricInvest, Novastar, Zambeef, Equity Bank, Access Bank plc, Redstone Concentrated Solar Power Project, among many more.

According to Nick O’Donohoe, CEO of British International Investment, this is an incredibly significant milestone in the company’s history.

British International Investment will build on CDC’s legacy by inheriting its unparalleled experience of impact investing and deep-rooted knowledge of the markets in which it invests.

ALSO READ: Standard Bank, Citi, Norfund and CDC Group partner in USD$75M Funding to Kenya’s Greenlight Planet

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