British International Investment , the UK government’s Development Finance Institution , formerly known as CDC Group, introduced its new name and announced a US $20 million, 4-year structured credit investment in Moove – a mobility fintech democratising access to vehicle ownership in Africa.
BII’s leadership outlined the organisation’s strategy to deliver productive, sustainable and inclusive investment and pledged to deepen its capital commitments to support the emergence of more breakthrough Nigerian businesses providing progressive solutions to urgent and complex development challenges.
He said the launch of BII marks a continuation of this partnership, and that they look forward to seeing BII’s support expand and diversify in Nigeria. “I am delighted that not only will BII’s investment help to create jobs and provide entrepreneurial self-starters with the means to own their vehicles, but Moove’s clear focus on gender diversity will foster inclusive economic opportunities for women, both within the company’s workforce and among its drivers,” he added.
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