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PRINT THIS PAGE Emerging markets investor CDC commits $100m to four funds in Africa18/07/2005. Source: AltAssets. 
 Emerging markets investor CDC has committed over $100m to four funds in Africa. The commitments include $40m to the Canada Investment Fund for Africa, $50m to the Actis Africa Empowerment Fund to invest in black empowered businesses in South Africa, $15m to the Emerging Markets Partnerships' second Africa fund aimed at larger businesses, and $3m to Grofin, a fund sponsored by the Shell Foundation and endorsed by Tony Blair in his capacity as chairman of the Commission for Africa.
Grofin will target small-scale businesses that do not qualify for micro-finance and will also receive funding from the Dutch development finance institution, FMO, and the Development Finance Corporation of Uganda.
CDC's CEO Richard Laing said, 'These commitments demonstrate CDC's continuing stake in the future of Africa. Private sector investment is vital to build up sustainable business which is the key to long-term economic growth in Africa.'
These latest investments are in addition to CDC's existing investments in Africa of $750m and a $250m commitment to Actis Africa, to be invested over the next three and a half years.
CDC is a government-owned fund of funds business focusing on emerging markets with assets of $1.9bn. It has committed capital to 35 funds in Africa, Asia and Central America.
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