CDC establishes Ghana presence with appointment of new Coverage Director

02 Feb 2022

  • Kwabena Asante-Poku will lead the UK Development Finance Institution’s investment and stakeholder activities and presence in Ghana. 
  • Asante-Poku's appointment and deep market knowledge supports CDC's investment drive and coverage of Ghana – Africa's 8th largest economy

Accra, 1 February 2022 - CDC Group, the UK's development finance institution (DFI) and impact investor, is today announcing the appointment of Kwabena Asante-Poku as Coverage Director for Ghana, effective 1 February 2022. The new position will amplify the DFI’s presence in West Africa and strengthen its reach across the continent.

Based in Accra, Asante-Poku will lead CDC’s on-the-ground operations in Ghana, working to manage and strengthen the firm’s portfolio and to originate new investment opportunities. Joining CDC’s Africa coverage team, Kwabena will work on deepening the partnership between Britain and Ghana, and building relationships with key government stakeholders, local private sector businesses, entrepreneurs, and several key stakeholders across the country.

Kwabena Asante-Poku’s appointment to head CDC in Ghana comes as the DFI embarks on a new five-year strategy designed to channel its capital toward scaling the vast economic opportunities throughout Africa, while also meeting pertinent development challenges. The new approach reiterates the organisation's invigorated strategic objective to invest for productive, sustainable, and inclusive growth in Africa.

Asante-Poku joins CDC after a 14-year tenure at PwC, where he served as a Partner in Advisory Deals and the Head of Transaction Services in Ghana and Nigeria, providing directed high-level mandates in corporate finance, due diligence, and business strategy across several sectors, including financial services and telecommunications. Prior to his role at PwC, Asante-Poku was an independent consultant in the UK. He started his career at Unilever in Ghana.

Kwabena is a Ghanaian national and holds an MSc in Finance and Management from the Cranfield School of Management, a BSc in Applied Accounting from Oxford Brookes University, is a Chartered Accountant and a CFA Charterholder.

Commenting on his new role, Kwabena Asante-Poku, said: "I am delighted to take on this remarkable opportunity as CDC's Coverage Director for Ghana, during this critical juncture in Ghana’s development trajectory. Ghana’s projected GDP growth of 4.4%, the fastest since the pandemic began, signifies a dynamic market brimming with diverse businesses and industries that are open for investment. I am eager to get to work on building relationships with leaders of these industries and innovative entrepreneurs, bringing CDC’s patient and flexible capital to transactions that align with the organisation’s strategic objectives and helping bolster sustainable economic growth in Ghana."

Tenbite Ermias, CDC's Managing Director for Africa, said: "We are pleased to welcome Kwabena as our Coverage Director for Ghana. The expansion of CDC’s Africa Coverage team reflects our dedication to building on the opportunities and trends that we see across the continent. Kwabena’s appointment will allow us to heighten our presence in the West African region and execute our strategic objective of investing for productive, sustainable and inclusive growth. Kwabena’s investment expertise across a range of industries along with his deep knowledge of regional markets will be a strong asset to this organisation. In his new role, I am confident that Kwabena will help us deliver a bold and long-term investment programme in Ghana and beyond."

CDC's current portfolio of investments in Ghana comprises 43 businesses, which support more than 11,000 jobs. The DFI’s investments span a broad range of sectors, including infrastructure, financial services, health, construction and real estate, and agribusiness. Its growing portfolio in Ghana is valued at over $160 million and Asante-Poku's leadership will help in identifying market opportunities and accelerate the expansion of CDC’s investment portfolio in Ghana.

- ENDS - 

About CDC

1. CDC Group is the UK’s impact investor with over 70 years of experience of successfully supporting the sustainable, long-term growth of businesses in Asia and Africa. Under its new strategy, its geographical mandate will be expanded to include Indo-Pacific countries and the Caribbean, with a broader remit to deliver jobs and clean growth. Read more here. CDC will become British International Investment plc on 4 April 2022.

2. The company is a leading player in the fight against climate change and has committed more than £700m of climate finance over the last four years. It plans to invest over £3 billion in climate finance between 2022 and 2026.

3. CDC is also a founding member of the 2X challenge which has raised $10bn to empower women’s economic development.

4. The company has investments in over 1000 businesses in emerging economies and total assets of £6.9 billion. In 2020, CDC committed over £1.1 billion to businesses in Africa and Asia, and aims to invest up to £1.3 billion in 2021 – with a focus on driving inclusive growth, job creation and supporting economic recovery from COVID-19.

5. CDC is funded by the UK government and is a champion of the UN’s Sustainable Development Goals. All proceeds from CDC’s investments are reinvested to improve the lives of millions of people in Asia and Africa.

6. CDC’s expertise makes it an ideal partner for private investors looking to devote capital to making a measurable environmental and social impact in countries most in need of investment.

Media Contacts

Toyosi Adebayo | Press@cdcgroup.com

 

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