I encourage fellow citizens to visit the Commonwealth Development Corp's
site and educate yourself on its history, board quality, and mission. Pay
particular attention to the board's experience and professional background. Then
educate yourself on the "investment schemes" Yahya had been lured into from
Alimenta to ESCOM to the current Carnegie Minerals. And another thing, I can't
stand it when folk mis-pronounce Carnegie as Canagi. Please note: It is
pronounced KARNAY'GHEE, not KANAJI. It is also to be distinguished from the Dale
and Andrew Carnegie Foundation.
When you educate yourself on this outfit of marauding colonial predators,
please understand that they do not mention good governance and the rule of law
anywhere. Understand also that I am not averse to their mission or activities
on the behalf of their capital funds investors. I am however averse to their
penchant to prey on the ignorance of colonies and non-colonies even amid a
history of non-compliant presidents. I am also incensed at their covert name
COMMONWEALTH Development Corporation and the surreptitious partnership of the
British Government. This is the new face of African re-colonisation.
Haruna.
Who we are: History
CDC has been an innovative investor in emerging markets for nearly 60 years.
Established in 1948, our initial mandate was to strengthen the economies of
the former UK colonies by providing finance for businesses.
In time, as countries gained independence, CDC became the Commonwealth
Development Corporation and by 1970 was given authority to invest in poor
countries beyond the Commonwealth where there was a need for CDC's expertise and
capital.
In 1997, CDC began to focus exclusively on equity investments.
In recent years two world class fund managers have been spun out of CDC: in
2001, _Aureos_ (http://www.aureos.com/) which focuses on small and medium
enterprises; in 2004, _Actis_ (http://www.act.is/) a leading private equity
manager in emerging markets.
CDC has retained its balance sheet and now operates as a fund of funds
working with over 20 fund managers. Year
1948
CDC set up to develop resources of Britain’s colonies.
1949
CDC acquires Borneo Abaca Ltd (BAL) in Malaysia, which eventually becomes a
major producer of palm oil. It also makes its first industrial investment,
the construction of a cement plant at Chilanga, outside Lusaka in Northern
Rhodesia (now Zambia).
1955
CDC generates profit for the first time. CDC has been profitable in all but
three years since.
1963
The organisation is renamed the Commonwealth Development Corporation.
Chilanga Cement is nationalised by the Zambian Government.
1969
CDC is given authority to invest outside the Commonwealth.
1992
Establishment of Ghana Venture Capital Fund, the first CDC-sponsored private
equity fund to attract third party investors.
1994
The Zambian Government re-privatises Chilanga Cement and CDC purchases a
majority stake, the first step in a regional consolidation strategy, leading to
the formation of Pan African Cement.
1996
BAL is sold to a Malaysian company. The annualized internal rate of return
on CDC’s investments is 13% over 47 years.
1997
The Prime Minister, Tony Blair, announces that CDC is to become a Public
Private Partnership (PPP).
1999
CDC transforms from a statutory corporation to a plc, and is renamed CDC
Group plc.
2001
CDC sells Pan African Cement, the holding company which includes Chilanga
Cement, to an international cement company. Aureos spun out as an independent
fund manager focusing on small and medium enterprises.
2004
Actis is spun out as an independent and privately controlled fund manager in
the emerging markets. CDC begins operating as a fund of funds.
2006
CDC invested with over 20 fund managers.
**************Ideas to please picky eaters. Watch video on AOL Living.
(http://living.aol.com/video/how-to-please-your-picky-eater/rachel-campos-duffy/
2050827?NCID=aolcmp00300000002598)
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