UK investment giant sees great investment opportunities in Africa

British International Investment, formerly known as CDC group, has recently rebranded in South Africa with a focus on expanding its investment opportunities in the region. In a recent interview with CNBC Africa, CEO Nick O'Donohoe discussed the company's mandate and its commitment to supporting the just energy transition and climate finance in South Africa. O'Donohoe highlighted the importance of the UK government's largest provider of climate finance to developing markets and emphasized the role of patient capital in driving the green economy forward. With South Africa playing a pivotal role in the global energy transition, O'Donohoe expressed optimism about the country's partnership with the G7 and the potential for it to serve as a model for other nations. The company's investments in renewable energy projects like the Redstone concentrated solar power plant and the SCOTEC-led project in Kenhart showcase its commitment to innovation and sustainability in South Africa. Additionally, O'Donohoe commended the South African government for its sensible and commercial approach to reforms and its efforts to create an enabling environment for private sector investment. British International Investment's growing portfolio in South Africa, which has increased to over half a billion dollars in investment commitments, reflects the company's confidence in the country's renewable energy sector and its potential for growth. Beyond renewables, the company is also focusing on areas like financial inclusion and affordable housing to address inequality in the region. Projects such as affordable rental housing and support for initiatives like Time Bank demonstrate British International Investment's commitment to making a positive social impact in South Africa. Furthermore, the company is leveraging South Africa's position as a hub for investments in other African countries, with investments in companies like Liquid Telecom that are expanding their operations across the continent. O'Donohoe also highlighted the emergence of vibrant capital markets in countries like Nigeria and Kenya, where British International Investment is supporting early-stage startups and fostering innovation to tackle development challenges. With a strategic focus on supporting sustainable development and economic growth in South Africa and beyond, British International Investment is well-positioned to capitalize on the diverse investment opportunities in the region and contribute to its long-term prosperity.