Knowledge

Asante launches lending product linked to Rwanda mass transport system

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Date: 8 February 2024

Amongst the various ecosystems Asante is active in is the Mass Transit ecosystem, where the business has been active in a unique opportunity of financing bus companies. Its partner in this ecosystem is a technology company that has been providing innovative solutions for bus companies in Rwanda and Cameroon since 2015. The partner provides cashless solutions for bus companies to collect revenue, alleviating risks associated with cash payments. Bus transport is the leading means of transport in Rwanda and the business is managed and operated by formalised bus companies that are regulated by the Rwanda Utilities Regulatory Authority. At the back […]

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Verdant Capital has advised a leading UK private equity firm on the sale of Biyinzika Poultry International Limited.

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Date: 26 January 2024

Verdant Capital has advised a leading UK private equity firm on the sale of Biyinzika Poultry International Limited (“BPIL”), a vertically integrated poultry business in Uganda, to an investor consortium including a US single-family office and a regional industry executive. The sale represented a 100% interest in BPIL. BPIL was founded in 1990 as a poultry breeder farm and has grown steadily over the years to establish itself as a key player in the Ugandan poultry industry. It is a leading supplier of day-old chicks, poultry feeds, broilers, and branded and unbranded dressed chicken. It trades under brand names, including […]

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Verdant Capital completes 18 transactions in 2023 and receives awards from Africa Global Funds

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Date: 26 January 2024

Pan-African investment bank and investment manager completed 18 transactions in 2023 and received accolades from the prestigious Africa Global Funds awards.  The firm won Best Independent Advisory Firm – pan-Africa and Best Advisory Firm to Private Equity.  In 2023, Verdant Capital further emphasised the strength of the pan-African franchise, completing five transactions in South Africa, two in other SADC countries, eight in East Africa and three in West Africa.  Eleven of the transactions were for private equity investors or portfolio companies of private equity. Verdant Capital, a successful investment bank operating since 2013, in 2021 established an investment management division […]

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Verdant Capital advises Unguka Bank shareholders on the sale of their controlling stake to LOLC Holdings Plc

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Date: 9 October 2023

Unguka Investment Group, Incofin and Progression Eastern Africa Microfinance Equity Fund (together, the “Shareholders”) have sold a controlling stake in Unguka Bank Plc (“Unguka Bank”), a leading microfinance bank in Rwanda, to LOLC Mauritius Holdings Limited, a subsidiary of LOLC Holdings Plc (“LOLC”). Verdant Capital is pleased to have acted as the financial advisor to the Shareholders for this transaction. Unguka Bank was founded in 2005 and operates as a microfinance bank with 14 branches across Rwanda. The bank offers a broad range of products and services which include loans, savings, and other offerings such as money transfer services. Key […]

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Verdant Capital raises EUR 10 million of debt funding for Bridge Taxi Finance

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Date: 3 August 2023

Bridge Taxi Finance (“Bridge Taxi”), a Mokoro Holdings subsidiary, is a development company offering finance and support products to the minibus taxi industry in South Africa. This includes strategic investments and associations in various industries supporting the developmental finance chain, from taxi finance to logistics, credit solution services, supply of parts, and vehicle servicing. South Africa’s taxi industry plays a vital role in the country’s economy, accounting for over 70% of all public transport trips, and is the most widely used form of public transport in Africa. The EUR 10 million facility from Triodos Investment Managers is an introduction and […]

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Verdant Capital Hybrid Fund completes a USD 7 million dual-tranche investment in Mogo Kenya

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Date: 28 June 2023

The investment will help provide thousands of self-employed entrepreneurs operating as motorbike and tuk-tuk taxi riders or courier or delivery drivers in Kenya with greater economic empowerment and asset ownership opportunities. Verdant Capital is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed a USD 7 million dual-tranche investment comprising a subordinated loan and senior secured loan to Mogo Auto Limited (“Mogo Kenya”), a subsidiary of Eleving Group operating in Europe, Asia, and Africa. This investment is the third for the Fund. The investment will help Mogo Kenya expand its portfolio of motorbike (fuel and electric-powered […]

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Flow Global: A trailblazer in mobile money micro-enterprise financing

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Date: 10 November 2022

 Mobile money has been a leading technology in the digital transformation of the African financial economy and the move towards total financial inclusion. According to the GSMA, sub-Saharan Africa alone accounts for approximately 70% of the USD 1 trillion global mobile money market. At the heart of the mobile money, ecosystem is “cash in, cash out” agents or mobile money microenterprises who convert physical cash to digital money or vice versa for clients for the purposes of electronic bill payments, peer-to-peer payments, safekeeping, etc. Data from a recent assessment on the proliferation of mobile money financing by Microsave Consulting for The […]

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MFS Africa has completed the acquisition of Baxi

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Date: 15 March 2022

MFS Africa has completed the acquisition of Baxi taking its footprint into Nigeria, Africa’s largest economy and perhaps its most dynamic fintech market. The transaction was first announced in November 2021 pending approval of the Central Bank of Nigeria, which has now been achieved. As well as providing a market entry into Nigeria for MFS Africa, the combination provides exciting synergies:  Baxi simplifies and integrates online and offline payments for SMEs and merchants in Nigeria through its omni-channel distribution network; MFS Africa simplifies cross-border payments, integrating payments via one hub.  Baxi’s growth has accelerated over the last 24 months achieving […]

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Verdant Capital advises Baxi, a leading super-agent in Nigeria, on its sale to MFS Africa.

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Date: 27 October 2021

MFS Africa is acquiring Baxi to expand its network into Nigeria, Africa’s largest economy and perhaps its most fintech dynamic market.  Nigeria is also the largest remittance market in Africa representing one-third of intra-Africa remittance flows, and is home to the largest number of SMEs.  Verdant Capital views the two businesses as highly complimentary:  Baxi simplifies and integrates online and offline payments for SMEs and merchants in Nigeria through its omni-channel distribution network; MFS Africa simplifies cross-border payments, integrating payments via one hub.  The transaction further extends Verdant Capital’s track-record of advising on transactions shaping the fintech sector in Africa.  […]

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