The UK development finance institution, CDC Group, have revealed returns of £207mn (US$318mn) and developing country investments of £359mn (US$551.8mn) during 2009.
Of the money invested, 61%, or £219mn (US$336.5), went to African businesses, making it the biggest private equity investor in Sub-Saharan Africa.
Furthermore, 2009 saw the launch of CDC’s five-year investment policy which will see at least 75% of the institution’s new investments in low income countries, with a 50% pledge in Sub-Saharan Africa.
CDC, which provides capital to growing businesses, has expanded its portfolio of African businesses to £731mn (US$1.1bn).
CDC’s chief executive, Richard Laing, says: “These are positive results which show that, despite the tough conditions caused by the global downturn, the companies in which CDC has a stake are performing well. 2009 was a year of economic turmoil in much of the world, but our role is to continue to invest during times when we are most needed.”
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