ADC African Development Corp GmbH & Co KGaA is a financial services holding company focusing on banking and insurance market, as well as on proprietary investments in selected frontier markets in sub-Saharan Africa. The Company focuses its activities on growth capital investments. As of December 31, 2009, the Company had three wholly owned subsidiaries, including ADC Financial Services and Corporate Development, ADC Rwanda and ADC Real Estate, as well as one minority owned subsidiary, ADC IT & Payment Solutions. As of December 31, 2009, the Company's investment portfolio consisted of a 44.95% stake in Premier Finance Group Ltd., a 25% stake in Banco Nacional de Guinea Ecuatorial, a 70% stake in SIMTEL S.A.R.L. and a 49% stake in iVERI Payment Technologies (PYT) Ltd., among others. In August 2012, the Company announced that it had a 50.4% interest in ABC Holdings Limited. In May 2013, it divided its 25% shareholding in Banco Nacional de Guinea Ecuatorial to co-shareholders in the bank.