Key data
Our portfolio
Making a financial return means we can recycle the money into new investments, to create jobs and pay taxes beyond our involvement. In 2022, we committed $1.56 billion (£1.27 billion) and we increased our portfolio to $8.2 billion (£6.9 billion).
Our portfolio size
2018
$5552m
2019
$6200m
2020
$7100m
2021
$8142m
2022
$8233m
How we invest in regions
The countries we invest in each have unique opportunities and needs. We invest in countries in Africa, Asia and the Caribbean. At the end of 2022, we had direct and indirect investments in more than 1,400 businesses – including 768 in Africa and 601 in our target countries in Asia.
Top 10 countries we are invested in
India
26%
Egypt
8%
Nigeria
8%
Kenya
5%
Bangladesh
4%
Zimbabwe
4%
Morocco
4%
South Africa
3%
Uganda
3%
Pakistan
2%
Regional breakdown of our portfolio
Africa
57%
South Asia
37%
Rest of world
6%
Regional breakdown of our 2022 commitments
Africa
55%
South Asia
40%
Other (Pan-region and investments in other countries such as in the Caribbean region)
5%
Country breakdown of our portfolio
| Country | 2022 closing valuation ($m) |
| India | 2,181 |
| Africa region | 920 |
| Egypt | 632 |
| Nigeria | 619 |
| Global region | 520 |
| Kenya | 416 |
| Bangladesh | 313 |
| Zimbabwe | 307 |
| Morocco | 297 |
| South Africa | 285 |
| Uganda | 211 |
| Pakistan | 195 |
| Ethiopia | 131 |
| Ghana | 129 |
| Cameroon | 102 |
| Senegal | 93 |
| West Africa | 85 |
| Nepal | 72 |
| Gabon | 53 |
| Cote d’Ivoire | 52 |
| Zambia | 47 |
| Tanzania | 46 |
| Cambodia | 45 |
| China | 44 |
| East Africa | 40 |
| Asia region | 36 |
| Mozambique | 30 |
| Sri Lanka | 28 |
| Myanmar | 25 |
| Democratic Republic of Congo | 25 |
| Mauritius | 23 |
| Tunisia | 23 |
| Malawi | 21 |
| Vietnam | 18 |
| South Asia region | 16 |
| Madagascar | 13 |
| Namibia | 7 |
| Mali | 7 |
| Rwanda | 5 |
| Sierra Leone | 2 |
How we invest in sectors
A focus on, and expertise in, key economic sectors is central to our approach to making successful investments. We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the SDGs. These sectors range from investing in the power infrastructure that will provide people with better access to electricity; to sectors that are powerful job creators or sectors that are critical for improving access to basic goods and services; to investing in financial institutions that direct capital to the individuals and enterprises that need it.
Sector breakdown of our portfolio
Infrastructure
30%
Financial services
27%
ICT
11%
Health
10%
Food and agriculture
8%
Manufacturing
6%
Other
5%
Construction and real estate
3%
Education
1%
Sector breakdown of our 2022 commitments
Infrastructure
26%
Financial services
25%
Manufacturing
21%
Other
12%
Food and agriculture
8%
Technology and telecoms
5%
Health
3%
How we invest in different product types
We provide the flexible long-term investment that many businesses in developing countries need to grow. This capital is provided in different ways, through direct equity, intermediated equity, debt and trade finance.
Product breakdown of our portfolio
Direct equity
39%
Intermediated equity
33%
Debt
26%
Guarantees
2%
Product breakdown of our 2022 commitments
Debt
41%
Direct equity
33%
Intermediated equity
23%
Guarantees
3%
The impact of our investments
In 2022, our portfolio of businesses in Africa and South Asia provided direct jobs for 958,200 people (in full-time equivalents). Of these workers, 54,090 were new hires.
Direct jobs supported at the start of the year by our investee companies
2018
820,040
2019
833,660
2020
918,040
2021
916,050
2022
904,110
Additional jobs supported at end of year
2018
32,090
2019
42,130
2020
33,890
2021
22,310
2022
54,090
Direct jobs supported by our investee companies by country in 2022
| Country | Jobs |
| India | 447,266 |
| Nigeria | 74,141 |
| Egypt | 69,739 |
| Pakistan | 40,534 |
| South Africa | 39,614 |
| Kenya | 34,925 |
| Bangladesh | 29,029 |
| Morocco | 21,515 |
| Tanzania | 18,260 |
| Ghana | 15,820 |
| Ethiopia | 10,987 |
| Zimbabwe | 10,042 |
| Cameroon | 9,404 |
| Tunisia | 8,529 |
| Zambia | 7,325 |
| Cote d’Ivoire | 6,751 |
| Myanmar | 6,256 |
| Mozambique | 4,206 |
| Uganda | 2,998 |
| Democratic Republic of Congo | 1,979 |
| Senegal | 999 |
| Madagascar | 985 |
| Rwanda | 659 |
| Mauritius | 543 |
| Sierra Leone | 465 |
| Mali | 138 |
Direct jobs supported by our investee companies by region in 2022
Africa
43%
Asia
56%
Rest of world
1%
Direct jobs supported by our investee companies by sector
Financials
34%
Industrials
13%
Agribusiness and food
12%
Healthcare
10%
Infrastructure
10%
ICT
10%
Consumer services
8%
Education
2%
Real estate
0.3%
Other
0.1%
Direct jobs supported by our investee companies by gender in 2022
Women
28%
Men
72%
Private sector capital our investments have helped mobilise: Organisation for Economic Co-operation and Development Method
2018
$576m
2019
$876m
2020
$555m
2021
$2064m
2022
$1345m
Private sector capital our investments have helped mobilise: Multilateral Development Bank Method
2018
$570m
2019
$917m
2020
$559m
2021
$2085m
2022
$1409m
Taxes paid by our investee companies
2018
$3.24bn
2019
$3.31bn
2020
$2.22bn
2021
$1.51bn
2022
$1.79bn
Taxes paid by our investee companies by sector
Agribusiness and food
3.2%
Consumer Services
0.3%
Education
0.7%
Financials
64%
Healthcare
9.1%
ICT
6.6%
Industrials
1.4%
Infrastructure
14.7%
Real estate
0.02%
Taxes paid by our investee companies by country in 2022
| Country | Taxes paid ($) |
| India | 446,347,126 |
| Egypt | 432,625,181 |
| Pakistan | 166,660,486 |
| Tanzania | 89,543,850 |
| Nigeria | 69,215,796 |
| Kenya | 34,129,634 |
| Uganda | 33,342,559 |
| Bangladesh | 31,930,695 |
| South Africa | 25,532,467 |
| Cote d’Ivoire | 21,029,397 |
| Cameroon | 16,842,757 |
| Myanmar | 5,537,725 |
| Ghana | 3,324,026 |
Customers reached by our financial services portfolio
2018
72m
2019
93m
2020
124m
2021
132m
2022
121m
Loans supplied by our investee companies
2018
$89.6bn
2019
$89.7bn
2020
$108.7bn
2021
$99.8bn
2022
$86.1bn
Gigawatt hours of electricity produced by our investments
2018
48,724
2019
56,955
2020
55,352
2021
58,040
2022
49,873
Farmers reached by our investee companies
2018
1,252,000
2019
1,843,210
2020
1,514,540
2021
1,878,810
2022
9,994,850
Patients served by our investee companies
2018
9,547,000
2019
12,328,280
2020
14,453,620
2021
11,647,620
2022
12,898,077
Learners reached by our investee companies
2018
358,000
2019
477,500
2020
802,290
2021
1,782,810
2022
3,046,090
Supporting countries most in need
As part of our Impact Score, we rank all the countries we invest in from ‘Alpha’ to ‘Delta’ according to their GDP per capita, fragility measures and poverty gap. Alpha is the most in need and Delta the least. A detailed breakdown of our approach to country segmentation is available in our Impact Score.
Commitments to countries most in need in 2022
Alpha
$151.3m
Beta
$299.7m
Gamma
$723.7m
Delta
$73.2m
Supporting the Sustainable Development Goals
For each investment we make, we link the expected impact of the investment to the Sustainable Development Goals (SDGs). The chart shows the value of our 2022 commitments aimed at addressing each Sustainable Development Goal. Please note that some individual commitments target multiple SDGs, which means the sum of the commitments shown on this chart is greater than our total 2022 commitment figure. Click here to see a larger version of the chart below.
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