Founding Shareholders

Citizen Entrepreneurial Development Agency (CEDA), Botswana
CEDA is wholly owned by the Government of the Republic of Botswana. It was established for the purpose of providing financial and technical support for business development with a view to the promotion of viable and sustainable citizen owned business enterprises.


Investment Fund for Developing Countries (IFU), Denmark
IFU was founded by law in 1967. The objective of IFU is to promote economic activity in developing countries in collaboration with Danish trade and industry.

Finnish Fund for Industrial Cooperation Ltd. (Finnfund), Finland
Finnfund is a Finnish development finance company that provides long-term risk capital for private projects in developing countries. Apart from co-investing with Finnish companies we can finance ventures that use Finnish technology, cooperate with Finnish partners on a long-term basis or generate major environmental or social benefits.

Lesotho Post Bank (LPB), Lesotho
Lesotho PostBank (LPB) is 100% owned by the Government of Lesotho.Its mandate is to increase access to financial services of the un-banked Basotho living in urban and rural areas of the country.


Export Development Fund (EDF), Malawi
The EDF is a recently formed organisation whose mandate is to promote the development of export business in Malawi. The organisation is owned 100% by the Government of Malawi.


The State Investment Corporation (SIC), Mauritius
The State Investment Corporation is a major group in the business of investment. It was founded in 1984 with the main objective of providing funds for the realisation of high-growth entrepreneurial ventures and assisting businesses to industry leadership position.

IGEPE – Institutio de Gestao das Participacoes do Estado, Mozambique
The Institute for Management of State Holdings (IGEPE) is wholly owned by the Government of the Republic of Mozambique. It was established in December 2001 by Decree of the Government, with the main objective of holding and managing state investments/shares in the business sector.
  Development Bank of Namibia (DBN), Namibia
DBN’s objective is to contribute to the economic growth and social development of Namibia and the sustainable promotion of the welfare of the Namibian people by providing finance for viable enterprises, mobilizing financial and other resources from the private and public sectors, and assisting in the development of money and capital markets. DBN provides finance to enterprises that are considered viable and sustainable, and that have a development impact, like job creation.
Norwegian Investment Fund for Developing Countries (Norfund), Norway
Norfund is an investment company intended to develop and establish profitable and sustainable enterprises in developing poor countries. The objective is to promote business development and contribute to economic growth and poverty alleviation.
  National Industrial Development Corporation of Swaziland , Swaziland
Government of Swaziland is working on restructuring the National Industrial Development Corporation of Swaziland (NIDCS) into an Investment Company. This holding company holds the equity stakes in private sector entities that will be responsible for ensuring effective representation of Government as a shareholder in commercial entities without necessarily bringing in the public sector influence.
Swedfund International AB (Swedfund), Sweden
Swedfund was founded in 1979. Swedfund provides risk capital, expertise and financial support for investment in the emerging markets of Africa, Asia and Latin America, as well as the non-EU countries of Eastern Europe.
  Tanzanian Investment Bank (TIB), Tanzania
TIB was established in 1970 as a development finance institution. In 1995, it was transformed into an investment/development bank. Its principal objective is to provide credit and specialized investment banking services to corporate clients on a commercial basis.
Infrastructural Development Bank of Zimbabwe (IDBZ), Zimbabwe
IDBZ is Zimbabwe’s main development institution with a primary mandate to mobilize financial and technical resources of appropriate duration and cost for public and private institutions involved in infrastructure development and to facilitate investment in infrastructure. IDBZ also focussed on promoting the development of SMEs through the provision of financing and technical assistance, where required.
  Development Bank of Zambia (DBZ), Zambia
DBZ is a Development Finance Institution (DFI) established by an Act of Parliament in the early 1970s. The Bank has recently undergone financial, organisational and operational restructuring under the auspices of the Development Bank of Zambia Amendment Act No. 11 of 2001.