Knowledge

Verdant Capital Completes a Debt Financing of approx. USD 10 million for Premier Credit

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    Verdant Capital has raised approx. USD 10 million for Premier Credit from leading international specialist investors. Premier Credit is a microfinance arm of Platcorp Holdings and its loan products include MSME loans, loans to schools (education portfolio) and asset financing in Kenya, Uganda and Tanzania. The funding will be used for the expansion of its loan book in Kenya and Uganda. A total of five investors have joined this funding round. This funding brings diversification benefits after the group has been historically supported mainly by shareholders, high net worth individuals (HNIs) and other local investors. Premier Credit was... View Article

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Verdant Capital’s Sale of afb Ghana on behalf of JUMO World Recognised as the Best Financial Services Transaction in Africa 2017

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  Verdant Capital’s successful sale of afb Ghana on behalf of JUMO World has been awarded the accolade, best financial services transaction in Africa 2017. Full financial details were not disclosed but at the time of sale, afb Ghana had total assets of GHS 97 million (approx. USD 23 million). JUMO World is a leading Africa fintech business, which elected to sell the afb Ghana when it ceased to be core to its operations. The transaction was awarded the accolade in recognition of the breadth of interested generated in the transaction, including from local financial institutions, regional pan-African institutions and... View Article

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Verdant Capital advises JUMO World Limited on the sale of 100% of afb Ghana to Letshego Holdings Limited.

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Letshego has announced the completion of the acquisition of afb Ghana following final regulatory approvals.  afb Ghana was launched in 2010 and has total assets of GHS 97 million (approx. USD 23 million), making it now one of the largest consumer and micro lending institutions in Ghana.  JUMO World advised by Verdant Capital, has sold the business in order to focus on its core financial technology business. Letshego Holdings Limited, is a leading pan-African inclusive finance institution, listed on the Botswana Stock Exchange, with total assets of BWP 7.5 billion (approx. USD 710 million).  The transaction is one of a series of successful transactions... View Article

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Trustco Bank re-starts micro and SME-lending after the closing of ZAR 450 million group funding

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Trustco Bank, formerly FIDES Bank, has started micro and SME-lending, following the first disbursement from the European Investment Bank (EIB) of its EUR 7.5 million (equivalent) facility. The facility from EIB was part of a ZAR 450 million group funding arranged by Trustco’s advisors, Verdant Capital, which was announced in November 2016. The overall ZAR 450 million of funding is being used to support, Trustco Bank, Trustco Finance (Trustco’s education lending business) and Trustco’s property development business, which is focused on affordable housing. In 2014, Trustco acquired FIDES Bank which had been known as the micro/SME bank in Namibia. The... View Article

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Verdant Capital advises Jumo World Limited on the sale of 100% of afb Ghana to Letshego Holding Limited.

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afb Ghana was launched in 2010 and has total assets of GHS 97 million (approx. USD 23 million), making it now one of the largest consumer and micro lending institutions in Ghana.  Jumo World, which is backed by leading specialist funds such as Leapfrog, Vostok and Gemcorp, is divesting from afb Ghana in order to focus on its core financial technology business. The acquirer of the business is Letshego Holdings Limited, a leading pan-African consumer and micro finance institution, listed on the Botswana Stock Exchange, with total assets of BWP 7.5 billion (approx. USD 710 million).  afb Ghana’s strategy of... View Article

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Verdant Capital successfully arranges GHS 13 million loan facility for First Allied Savings and Loans

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Verdant Capital has successfully arranged for First Allied Savings and Loans, a leading Ghanaian financial institution, a loan facility amount of GHS 13 million (approx. USD 3.2 million) from a leading international impact investor. This facility is the first tranche of a private placement debt deal of GHS 60 million (approx. USD 15 million), the balance will close early in the new year. The institution has total assets of around USD 90 million with about 63% of its loan book is represented by micro-enterprise loans and 34% by SME loans. SMEs and micro-enterprises are critical for the economic and social... View Article

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Verdant Capital completes debt financing of approx. ZAR 450 million for Trustco

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Verdant Capital has completed for Namibian financial services and property group, Trustco, a debt financing of approx. ZAR 450 million. Trustco is listed on the JSE and the Namibian Stock Exchange with a market capitalization of ZAR 2.9 billion (approx. USD 215 million). The financing represents the second largest equity or debt financing by a Namibian-owned private sector company. The funds raised will be deployed principally in Trustco’s banking and finance segment, through Trustco Bank and Trustco Finance, the Company’s principal lending arms. The funds will be mainly used for home loans, small enterprise and individual business loans, as well... View Article

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Verdant Capital arranges USD 3 million credit facility for Pan African Building Society

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Verdant Capital has arranged for leading Zambian non-bank financial institution, Pan African Building Society (PABS) a revolving credit facility to support its invoice discounting and supply chain financing activities. The initial facility amount is USD 3 million, with the opportunity to upsize, and the financing is supported by technical assistance. The intention is that the financing structure will provide a platform which other funders may ultimately join. PABS is a leading Zambian deposit-taking financial institution regulated by the Bank of Zambia under the Banking and Financial Services Act and the Building Society Act. The institution has a total balance sheet... View Article

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Verdant Capital has raised c USD 10 million for Madison Finance

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Verdant Capital has raised c USD 10 million equivalent in local currency debt financing for leading Zambian micro-SME and consumer lender, Madison Finance. The transaction was successful notwithstanding the macro economic challenges facing Zambia, and demonstrates the depth and resilience of Verdant Capital’s investor franchise. European Investment Bank was the largest investor in the transaction, which was shared by a large private institution based in South Africa. The transaction represents the first internationally sourced senior debt financing raised by Madison Finance. The transaction was signed late in 2014, and closed in H1 2015 following the satisfaction of final conditions precedent.... View Article

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