Last week, CDC Group, the UK government’s development finance institution, announced some key elements of its strategy for the next five years. Among the initiatives are plans to scale up the level of investment in Africa, the appointment of a new Chair, and the rebranding of the organization to better reflect the breadth of its activities in developing markets.
Since 2017, CDC has invested £4 billion in companies and projects in Africa, an amount the organization expects to significantly increase between 2022 and 2025. The DFI aims to invest up to £10 billion in all its emerging market sectors over the next 5 years, an increase of 42%, which translates into a potential extra £1.7 million for Africa. The institution will back companies and projects in vital sectors that serve two main purposes – catalyzing global opportunities and addressing complex development challenges. A good example of this would be investments in the infrastructure sector which are critical to raising productivity and competitiveness, thereby improving the livelihoods of communities and cities in the continent.
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