CDC Group and Finnfund commit US$70m to AfricInvest to support growth of enterprises

AFRICA – CDC Group and Finnfund have announced a US$70 million commitment to AfricInvest Fund IV, a generalist pan-African fund aiming to foster the growth of African enterprises across the continent. CDC, the UK’s impact investor and development finance institution, committed US$50 million and Finnfund, the Finnish development financier, committed US$ 20 million. “CDC’s countercyclical commitment will improve AfricInvest’s chances of weathering the COVID-19 crisis and enable the firm to continue investing and generating transformational impact across the African continent,” Clarisa De Franco, Managing Director, Head of Africa Funds, Funds…

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