CDC Group to invest $200m in BMCE Bank of Africa.

CDC, the UK’s development finance institution, agreed to invest in $200m in BMCE Bank of Africa, a Pan African bank that serves over 20 countries on the Continent for a c. 5% equity stake. CDC will form a partnership with a Pan African Bank to deepen penetration of banking services and promote financial inclusion for all. We believe that investing in financial institutions is a powerful mechanism through which CDC can deliver impact at scale. “CDC invests in financial institutions as a powerful mechanism through which to can deliver impact at scale. The capital markets in countries such as Morocco are integrated across Africa and are critical to the success of more economically challenged environments in the region. We see these countries as regional hubs, strong platforms from which to provide affordable finance, goods and services to millions more people,” Nick O’Donohoe, CDC’s Chief Executive Officer.