<\/p>\n
The UK government\u2019s development finance institution, CDC Group, as part of its five-year strategy will invest up to \u00a32billion per annum, beginning this year, in some critical sectors of the economy.<\/p>\n
In an interview with the B&FT, CDC\u2019s Coverage Director for Ghana, Kwabena Asante-Poku, indicated CDC will offer patient capital which will be channelled into investments that will drive significant development impact. Its three key strategic objectives focus on Productive, Sustainable and Inclusive development.<\/p>\n
\u201cIn Ghana, we want to partner with businesses in job-creating sectors, back innovative industries and those that can promote the country\u2019s green growth and sustainable future. We will also collaborate to increase funding to businesses and entrepreneurs whose services can positively impact women, youth, and marginalised groups,\u201d the Coverage Director said.<\/p>\n
\u201cWe invest in the following sectors: infrastructure, financial services, manufacturing, agriculture, real estate, technology and other services. Our investments will also focus on three primary themes in Ghana: SME development, gender finance, and climate finance,\u201d he emphasized.<\/p>\n
CDC is a central part of the UK\u2019s offer to help developing and emerging countries meet their significant financing needs for infrastructure and enterprise.<\/p>\n
CDC\u2019s portfolio of investments<\/strong><\/p>\n CDC\u2019s portfolio of investments in Ghana has grown to over US$160million, and it currently works with 43 pioneering companies across the country that employ over 11,500 people.<\/p>\n The development finance institution\u2019s partnership with Ghana began with investments toward building new roads through the Coast Construction Company Limited in 1959. Over the years, CDC has supported Ghana\u2019s private sector development through its investment partners such as Africa Infrastructure Investment Managers, AfricInvest, 8 Miles, and Helios Investment Partners, among others, and close collaborations with private equity fund managers with a local presence in the Ghanaian market.<\/p>\n \u201cIn 2019, we made a US$20million commitment to Verod Capital\u2019s Growth Fund III, supporting SME development in Nigeria and Ghana. In the same year, we also committed US$15million to PEG Solar,\u201d Mr. Asante-Poku mentioned.<\/p>\n The company provides financing for pay-as-you-go solar power home systems and solar water irrigation to communities that do not have access to the grid in West Africa.<\/p>\n Climate Change<\/strong><\/p>\n \u201cOur focus on climate change mitigation through supporting sustainable forestry is most powerfully demonstrated by CDC\u2019s initial investment in Miro Forestry in 2015. Since then, the company has expanded its plantations and operations,\u201d Mr. Asante-Poku said.<\/p>\n This has supported about 2,000 direct jobs in Ghana and Sierra Leone, and countless indirect jobs in places like Drabonso and Sekyere Afram Plains.<\/p>\n He revealed that CDC partnered with Miro due to the business\u2019s high sustainability standards and the impact its operations can have on helping to reduce climate change and increase local employment.<\/p>\n \u201cAs we prepare to become British International Investment (BII) on April 4, 2022, our strategy will emphasise the benefits of impact investing and share the highest levels of ethics, standards and transparency with our partners, along with British values,\u201d he said.<\/p>\n Source: B&FT<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Featured Video\n<\/p>\n\n
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