CDC backs small and medium-sized companies in Africa with two new fund investments

CDC, the UK’s development finance institution, has today announced two new investments in Africa-focused funds. CDC has committed up to EUR25million to AfricInvest Fund III (“AFIII”) and up to US$15m to Synergy Private Equity Fund (“Synergy”).
CDC’s capital will be invested by both funds in small and mid-cap companies. AFIII and Synergy will target companies across a broad variety of sectors that show significant potential to grow from a local presence to a regional or continental level, with individual investment sizes likely to range between US$5-15m. AFIII will invest across the continent while Synergy will focus on Nigeria and Ghana.