What current investments does BII hold?

 

  1. BII committed US$ 30.0 million to BluePeak Private Capital Fund (the "Fund"), an impact-driven Africa-focused fund, domiciled in Luxembourg. The Fund focuses exclusively on the provision of bespoke financing solutions to fill a widening financing gap for small to medium enterprises ("SMEs") across Africa.

 

  1. BII was one of the anchor investors of the Fund and one of the most supportive development finance institutions (“DFI”) for the strategy. BII was one of the fewer DFIs that believed early in the Private Credit opportunity to help bridge the financing gap in Africa and offer alternative forms of financing to SMEs. BII played a catalyst role in attracting other investors to the Fund.

 

  1. BII’s Intermediated Credit team led by Stephen Priestley and Jo Fry believed in the Fund’s ability to support resilient African SMEs operating in highly impactful industries to continue delivering on their growth plans by providing flexible and bespoke financing.

 

  1. BII’s team played an instrumental role and helped the Fund mobilize additional capital and ultimately raise US$ 140.0 million in funding, illustrating the critical role of DFIs in catalyzing private sector investment toward development outcomes.

 

  1. Below is a brief description of current investments that are indirectly held by BII:

 

  1. Grit Real Estate Income Group ("Grit"): the company is a leading pan-African real estate company focused on acquiring and managing commercial real estate assets in select African countries (excluding South Africa). Grit brings quality standards to Africa and helps develop the industrial and services sectors which employ a large number of the populations. Grit manages a diversified portfolio, comprised of 54 income-generating assets across 8 countries and 5 asset classes. In December 2021, the Fund invested US$ 15.0 million in Grit to partially fund the purchase, refurbishment, and expansion of Orbit logistics and manufacturing facilities. Orbit is a vertically integrated leading manufacturer of home and personal care products (hand sanitizers, soaps, detergents, etc.) and the largest regional producer of bleach in East Africa. The investment will contribute to accelerating the scale & transformation of industrial logistics in Africa.  
  2. iENG Group: the company provides passive infrastructure engineering, O&M services, and hybrid power solutions to the telecom sector in 20 African countries, Asia, and the Middle East. In April 2022, the Fund invested US$ 20.0 million to fund: (i) the expansion of tower and O&M sites in Africa and (ii) the growth of additional operations including tower asset management. The investment will be making a positive impact on the communities it serves, by increasing and improving access to connectivity in low-income countries and rural areas. 
  3. Africure Pharmaceuticals: the company is a manufacturer and distributor of essential generic pharmaceutical products (e.g., paracetamol, basic antibiotics, anti-malaria drugs). The company operates throughout Sub-Saharan Africa with several manufacturing and distribution plants. In May 2022, the Fund invested US$ 15.0 million to fund: (i) working capital requirements to deliver on the growing order books across its facilities in Cameroon, Cote d’Ivoire, and Tanzania and (ii) expansion to new geographical markets. The investment will be making a positive impact on the communities it serves, by increasing affordable access to critical medicines in countries with a high burden of disease.
  4. Watu Africa: the company is an East African asset leasing fintech company focused on improving mass-market mobility across Africa through financial inclusion and accessibility. The company is focused on providing access to affordable and flexible financing for individuals to purchase two and three-wheelers. In December 2022, the Fund invested US$ 20.0 million to fund the loan book growth in the Kenya business and (ii) partially fund the regional expansion strategy in Uganda, Tanzania and select West African countries. The investment will be making a positive impact on the communities it serves, by supporting financial inclusion, spurring inclusive growth, and reducing inequalities.
  5. BII’s support to the Fund is contributing to creating a positive, measurable social and environmental impact in Africa alongside a financial return. BII’s investments demonstrate its strong contribution to sustainable and inclusive investment and the development of the private sector.

 

  1. BII’s work is instrumental in creating opportunities for decent work, livelihood enhancement, and environmental sustainability in low to middle-income countries.