British CDC Group to invest in local real estate, food industry

asvptx · 2019-01-07T20:44:31+00:00

British investment fund CDC Group says it intends to pump money into Kenyan firms in various sectors including infrastructure, construction and real estate and financial institutions. The firm, whose chief executive Nick O’Donohoe recently announced the CDC Group plans to invest up to $4.5 billion (Sh458.3) across Africa including Nigeria over the next four years to boost ties with the continent, said Monday it was keen to back local Kenyan firms with additional capital. “We have got $268 million (about Sh27.2 billion) invested in Kenya, in 74 companies,” said CDC in response to the Business Daily queries. “In terms of sectors that we are targeting — CDC has a number of priority sectors including infrastructure; food and agriculture; construction and real estate; health and education; financial institutions and manufacturing.” The firm’s investments in Kenya are held through private equity funds though it also injects capital directly. The fund’s senior management is expected in Nairobi in a fortnight to shop for more investment opportunities. The CDC Group emerged as the biggest loser from the collapse of cement maker ARM , with its Sh14 billion investment in the troubled company at stake. The UK development finance firm had previously seen over 80 per cent of its initial share value eroded in just slightly more than two years since it bought a 42 per cent stake in the cement maker for Sh14 billion. With the company’s fate now in the hands of administrators, CDC’s chances of recovering the investment hang in the balance. Shareholders are ordinarily the last lot in the compensation pecking order whenever a collapsed company goes into liquidation. The ARM secured a $140 million (about Sh14.1 billion) investment from CDC Group in April 2016.

Thread starter asvptx
Start date Jan 7, 2019

asvptx

JamiiForums uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.

Accept Learn more…

Back

Top Bottom

Forums

New posts

British CDC Group to invest in local real estate, food industry

asvptx

JF-Expert Member

Our Community

Regional Communities