Norton Rose Fulbright has advised CDC group plc (CDC) on its US$65 million investment in Zambeef Products plc (Zambeef). CDC is the UK’s development finance institution. It invests in companies in Africa and South Asia to grow businesses, help create jobs and make a lasting difference.

Zambeef is listed on the Lusaka Stock Exchange as well as the AIM market operated by the London Stock Exchange Plc. Zambeef is the largest integrated food processing and retailing company in Zambia with operations in Nigeria and Ghana.

The Norton Rose Fulbright team advising Zambeef Products was led by partner Bayo Odubeko and included Nari Armaly, Samantha Hurrell, Daniel Jarman and Krystal Jumbo.

Bayo Odubeko commented:

“We are delighted to have advised CDC on this important transaction which is a perfect example of a development finance institution’s “double bottom line investing”. At a time where our private equity clients are deploying less capital in emerging markets due to the macroeconomic challenges in Africa arising from low commodity prices and weak currencies, we are seeing an upsurge in investment by long term patient capital.”

Norton Rose Fulbright’s 30-year track record in Africa places the firm at the centre of developments throughout the continent, with on the ground experience gained from working across 45 African jurisdictions.