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1181958

registered interest
date	02/03/2020
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	CDC: ARM Cement
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for International Development, how much CDC Group have invested in ARM Cement; how much of that investment has been lost or written down; and on what dates the losses and write-downs were recognised.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	23631
answer	answer is ministerial correction date of answer 11/03/2020 answer text <p>In 2016 CDC made a $144 million equity investment into ARM Cement, a publicly listed cement business with operations in Kenya, Tanzania and Rwanda. ARM Cement was an investment with high development impact potential. The aim was to support the growth of a regional manufacturer and by so doing reduce the cost and increase the availability of cement across the East African region, creating jobs and spurring infrastructure development.</p><p>Due to a number of factors, CDC’s investment in ARM was ultimately not successful and the CDC investment has been written off. Write-downs were accounted for in 2016 (December); 2017 (March, June, September, December) and 2018 (June).</p> answering member constituency Rochford and Southend East answering member printed James Duddridge question first answered 11/03/2020 17:05:28 answering member 1559 label Biography information for Sir James Duddridge
tabling member	4786 label Biography information for Zarah Sultana

1181959

registered interest
date	02/03/2020
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	CDC: ARM Cement
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for International Development, who the ARM Cement creditors are who were partially or wholly repaid following CDC Group’s initial investment in the company; and what CDC Group’s (a) previous and (b) current business or investment relationships are with each of those creditors.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	23632
answer	answer is ministerial correction date of answer 09/03/2020 answer text <p>Financial creditors of ARM Cement Limited who were partially or wholly repaid following CDC Group’s investment were: Citibank N.A.; I&amp;M Bank Ltd; Bank of Africa Kenya Ltd; Eastern and Southern African Trade and Development Bank; Development Bank of South Africa; Guaranty Trust Bank Kenya Ltd; Aureos Capital; Chase Bank Ltd; Barclays Bank of Kenya; CfC Stanbic Bank Ltd; Victoria Commercial Bank; Africa Finance Corporation.</p><p>Information on CDC’s current investment relationships with the above investees, where applicable, are available on its website <a href="https://www.cdcgroup.com/en/our-investments/" target="_blank">https://www.cdcgroup.com/en/our-investments/</a></p><p> </p> answering member constituency Rochford and Southend East answering member printed James Duddridge question first answered 09/03/2020 18:09:45 answering member 1559 label Biography information for Sir James Duddridge
tabling member	4786 label Biography information for Zarah Sultana

1173936

registered interest
date	28/01/2020
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	UK-Africa Investment Summit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for International Development, whether representatives of (a) Shell International, (b) BP and (c) other oil and gas companies were invited to the UK-Africa Investment Summit.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	9153
answer	answer is ministerial correction date of answer 03/02/2020 answer text <p>More than 1,700 people attended the UK-Africa Investment Summit on 20 January 2020. This included Leaders and Ministers from African Governments, CEOs and senior representatives from African and British businesses, institutional investors, international organisations, financial institutions and civil society. Businesses from a wide range of sectors were invited, including the oil and gas sector.</p> answering member constituency Pendle answering member printed Andrew Stephenson question first answered 03/02/2020 16:01:39 answering member 4044 label Biography information for Andrew Stephenson
tabling member	4786 label Biography information for Zarah Sultana