Institution allemande de financement du développement (groupe KfW) : prêts, mezzanine et fonds propres aux entreprises privées.
At a glance
Based on observed investment behaviour: 7 recorded deals
- Investor type
- Development finance institution (inferred, not verified)
- Capital type
- Development finance institution (inferred from profile)
- Observed ticket
- 10 M$ – 500 M$, median 45.6 M$ (4 disclosed amounts)
- Countries
- Nigeria (2), Cameroon (1), Côte d'Ivoire (1)
- Activities
- Agritech (1), Bakery, pastry and biscuits (1), Cement plants (1)
- Instruments
- Equity (5), Senior debt (2)
- Stages
- Growth (5), Debt (1), Series A (1)
- Recent activity
- 1 deal in 12 months, latest Feb 2026
Stated thesis versus observed behaviour
- Sectors: 100% of its deals within its stated thesis
- Countries: 100% of its deals within its stated thesis
Does this fund fit your project?
Describe your need: the target list shows, for each source of capital, why it fits and which deals prove it.
Find my matchesCriteria published by the fund, recorded and checked by Invest Matching.
- Investment ticket
- n/a
- Instruments
- Senior debt, Mezzanine, Equity
- Preferred sectors
- Manufacturing, Agribusiness, Energy, Financial services, Fintech, Healthcare, Logistics
- Target geographies
- West Africa, East Africa, Central Africa, Southern Africa
- Stages (stated by the fund and from its deals)
- Series AGrowthDebt
Recent public deals: they say better than a thesis what the fund actually signs.
Lupiya
February 2026 · ZambiaSeries A11.2 M$EquityFintechCo-Invest
Co-investor alongside IDF Capital’s Alitheia IDF Fund
Activity : Neobank and digital banking
Lupiya was founded in 2016 by Zambian entrepreneurs Evelyn Chilomo Kaingu (CEO) and Muchu Kaingu (CTO).
Co-investors Enygma Ventures, INOKS Capital
Source : launchbaseafrica.com
The Courier Guy
March 2024 · South AfricaGrowthUndisclosed amountEquityLogisticsCo-Invest
Co-investor alongside Adenia Partners
Activity : Delivery and last mile
Instrument : Acquisition de 100 % · Vehicle : Adenia Capital (V)
South African last-mile delivery leader with a network of partners, pick-up points and lockers.
Why they invested
- Fast-growing South African e-commerce
- Changing consumer delivery expectations
- Leading last-mile position
Advisers
- RMB — Financement de la dette, buyer side
- PwC — Due diligence financière et fiscale, fund side
- Webber Wentzel — Conseil juridique, fund side
- EY — Due diligence ESG, fund side
Co-investors Proparco, South Suez
Source : adenia.comN1 · Primary source
Apollo Agriculture
January 2024 · KenyaDebt10 M$Senior debtAgribusinessCo-Invest
Co-investor alongside Swedfund
Activity : Agritech
Kenyan startup Apollo Agriculture , a commercial farming platform that helps small-scale farmers maximize their profits, has raised USD 10 M in debt funding from Swedfund and ImpactConnect , implemented by DEG.
Source : weetracker.com
BUA Cement Plc
June 2023 · NigeriaGrowth500 M$Senior debtManufacturingCo-Invest
Co-investor alongside IFC (International Finance Corporation)
Activity : Cement plants
Instrument : financing package of $500 million comprising $160.5 million IFC own-account loan, $94.5 million MCPP loan and $245 million parallel loans · Vehicle : Managed Co-Lending Portfolio Program (MCPP)
BUA Cement is a Nigerian cement producer. The financing supports two new energy-efficient production lines in Sokoto State in Northern Nigeria.
Why they invested
- Expanding cement production capacity
- Supporting industrialization in Northern Nigeria
- Improving energy efficiency
- Creating direct and indirect jobs
Co-investors Africa Finance Corporation, Banque africaine de développement
Source : ifc.orgN1 · Primary source
Eranove
August 2021 · Côte d'IvoireGrowthUndisclosed amountEquityEnergyCo-Invest
Co-investor alongside A.P. Moller Capital
Activity : Power generation (utility-scale)
Instrument : Via la holding ECP Power & Water Holding · Vehicle : Africa Infrastructure Fund I K/S
African industrial group in power and water, notably in Côte d'Ivoire.
Why they invested
- Reliable, lower-carbon power supply
- Growing electricity demand in Africa
- Critical infrastructure for economic development
Co-investors Emerging Capital Partners, IFU
Source : apmollercapital.comN1 · Primary source
GrowthUndisclosed amountEquityEnergyCo-Invest
Co-investor alongside Africa50
Activity : Renewable power plants: solar, wind, hydro, geothermal, biogas
Instrument : 15% equity stake
NHPC develops and operates the 420 MW Nachtigal hydropower plant and its associated transmission line.
Why they invested
- Increase reliability of Cameroon’s power sector
- Expand access to electricity
- Mobilize private financing for strategic energy infrastructure
Co-investors Africa Finance Corporation (AFC), Banque africaine de développement (BAD), European Investment Bank, British International Investment, EDF, Emerging Africa Infrastructure Fund, FMO, IFC (International Finance Corporation), OPEC Fund for International Development, Proparco, République du Cameroun, STOA
Source : africa50.comN1 · Primary source
Beloxxi Industries Limited
August 2016 · NigeriaGrowth80 M$EquityAgribusinessCo-Invest
Co-investor alongside Africa Capital Alliance
Activity : Bakery, pastry and biscuits
Instrument : Prise de participation minoritaire substantielle · Vehicle : CAPE IV
Beloxxi manufactures cream cracker biscuits in Nigeria and operates an integrated plant in Ogun State with a nationwide distributor network.
Why they invested
- Double-digit growth in the biscuit sector
- Significant unmet demand
- Production-capacity expansion
- Regional distribution expansion
Co-investors 8 Miles
Source : acagp.comN1 · Primary source
DEG invests across the following sectors: Manufacturing, Agribusiness, Energy, Financial services, Fintech, Healthcare, and Logistics, in the following areas: West Africa, East Africa, Central Africa, and Southern Africa. Check in 30 seconds whether your company fits these criteria.