Verdant Capital was pleased to be awarded the “Best Independent Advisory Firm – Pan Africa”, by Africa Global Funds’ (“AGF”) 2020 Africa Service Provider Awards. The Awards were created to generate industry and public recognition of Fund Service Providers covering Africa as well as to honour the awardees for their outstanding efforts and accomplishments. The 5th edition of the AGF Service Providers Awards are a recognized symbol of excellence as the organization is the only such international award for African Fund Services. Africa Global Funds provides comprehensive coverage and analysis of the African investment space, coving traditional and alternative assets classes of […]
Tugende has raised USD 10 million in debt and equity capital from a consortium of investors arranged by Verdant Capital. This capital raise includes a strategic equity investment by Mobility 54, the Africa-focused investment fund of Toyota Tsusho Corp. This adds further strength to Tugende’s balance sheet and pushes the total balance sheet size above USD 30 million. Additional details on the equity raise can be found here. Tugende’s business has rebounded robustly after the lockdowns imposed in Uganda to help stem the spread of the COVID-19 virus. Since the relaxation of the lockdowns, Tugende’s client payments have recovered to […]
One of Africa’s leading mobile money and digital remittances services provider, Zeepay, extends Visa payment solutions and credentials to simplify cross border remittances. Zeepay, a fast-growing African fintech, on 28 September 2020 announced a partnership with Visa that will allow Africans in the diaspora to send money directly onto Visa debit and prepaid cards in Ghana. Through the partnership, Zeepay will integrate Visa’s real-time push payments solution Visa Direct, with INSTNTMNY its money transfer platform, to provide users of the Zeepay app a fast, convenient and secure way to receive money and remittances directly into their eligible card credentials. This […]
The Continent’s new intra-continental free trade agreement provides significant opportunity for small businesses. Open borders, improved contracts, and better structured value chains are some of the key benefits to small businesses from the African Continental Free Trade Area (“AfCFTA”). The AfCFTA commits the majority of the participating countries to 90 percent tariff cuts within a five-year period. The United Nations Economic Commission for Africa (“UNECA”) estimates that the AfCFTA has the potential to boost intra-African trade by 52.3% by eliminating import duties and could double trade if non-tariff barriers (“NTBs”) are also reduced. Micro, small and medium-sized enterprises (“MSMEs”), informal […]
