The investment will support UsPlus’ expansion of working capital solutions tailored to Small to Medium Enterprises (SMEs) operating across various critical sectors in South Africa. Verdant Capital is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed its fifth investment of USD 2 million, structured as junior convertible debentures in UsPlus Limited (“UsPlus”) incorporated in South Africa. UsPlus has greatly impacted the financial landscape of SMEs in South Africa by using working capital to support sectors and projects that are essential to the sustainability of the country’s society and environment. This investment will enable UsPlus to […]
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Johannesburg, South Africa, December 3, 2024 Left to Right: Stuart Bradley, Managing Partner, Phatisa (and member of judging panel); Edwin Siebani, Senior Vice President, Verdant; Edmund Higenbottam, Managing Director, Verdant Verdant IMAP is delighted to announce its recognition as Best Advisory Firm: Private Equity at the prestigious Africa Global Funds Awards. The accolade was presented during the Gala Awards Dinner on Thursday, November 14, 2024, at the renowned Mount Nelson Hotel in Cape Town, bringing together leading firms in African private equity and asset management. This award highlights Verdant’s significant contributions to the private equity M&Aecosystem across Africa. Over the […]
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Category: Media
Date: 27 July 2024
The annual conference of AVCA, Africa Venture Capital Association, was hosted in Johannesburg in April 2024. It was the first time the event had been hosted in Johannesburg in 20 years. The event featured distinguished delegates, from across the private capital space including, private equity, private credit and venture, as well as a range of limited partners and other stakeholders. The panels represented the diversity of interests at the event. A flagship panel was the private credit panel discussing the successes of the asset class in Africa over the last decade. Verdant Capital, Old Mutual Alternative Investments, Sahel Capital, and […]
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Zeepay won five fintech awards at the 13th Ghana Information Technology and Telecoms Awards (GITTA) award ceremony, which was held at Movenpick Ambassador Hotel in Accra on 7 June 2024, as recognition to Zeepay for its excellence in the fintech sector and its remarkable contribution to industry innovation. The five Fintech awards were Fintech Company of the Year, Emerging Mobile Money Provider of the Year, Fintech Personality of the Year, Fintech Team of the Year, and Best Use of AI in Fintech. These achievements reinforce Zeepay’s dedicated leadership and its commitment to enabling innovation in the fintech sector. GITTA is […]
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Verdant Capital hosted a Women in Finance Networking Breakfast coinciding with the Africa Venture Capital Association (AVCA) conference, held in Johannesburg for the first time in 20 years. This exclusive breakfast brought together women leaders, finance professionals, and aspiring entrepreneurs from across the continent and beyond. Held on the 23rd of April 2024, the networking breakfast drew an impressive array of attendees, including representatives from leading financial institutions, private equity firms, and venture capital funds. The networking breakfast provided a unique platform for women in finance to connect, share experiences, and discuss the challenges and opportunities they face in the industry. Verdant Capital’s initiative to host this event […]
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Yikri won the European Microfinance Award 2023 for its commitment to addressing the complex challenges of food security and nutrition in Burkina Faso. HRH Grand Duchess Maria Teresa of Luxembourg presented the European Microfinance Award 2023 to Yikri, a microfinance institution from Burkina Faso, at a ceremony held at the European Investment Bank (EIB) in Luxembourg on 16 November 2023. Yikri has won the €100 000 European Microfinance Award 2023 from the Directorate for Development Cooperation and Humanitarian Affairs of Luxembourg. The other two finalists were Kenya’s Fortune Credit Ltd and Guatemala’s Fundación Génesis Empresarial. Yikri champions social microfinance for […]
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Globally, macro-economically volatility has increased over the last four years, and along with country specific factors has led to volatility, stress, and in some cases sovereign default in specific countries in the continent. As specific markets recover, investors are offered the opportunity to re-engage, but how soon is too soon to reinvest after a default? Verdant Capital chaired a panel session at the European Microfinance Week (EMW), which took place in November 2023 in Luxembourg. The panellists were Felistas Coutinho, Managing Director at Tujijenge Tanzania Limited (a subsidiary of LOLC), Isabel Wanjohi, Group Treasurer at Platcorp Group Holdings, and Orli Arav, […]
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Verdant Capital hosted its first Verdant-in-London conference on the 9th to 11th of October 2023. Over the three days, we hosted more than 50 one-on-one meetings with specially selected clients from 13 countries across Africa. Represented were microfinance banks, innovative credit businesses and agri-businesses who are currently raising debt or equity through Verdant Capital. The next One-on-One investor meeting event is Video Africa, Verdant Capital, an on-line meeting event which is scheduled for the 18th-20th of March 2024. Verdant-in-London will be back from the 7th to the 9th of October 2024. Save the Date.
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Verdant Capital participated in the fintech panel session at the Africa Financial Services Investment Conference (AFSIC), which took place in October 2023 in London. Edmund Higenbottam, Managing Director, represented the firm on this panel, which played host to representatives of top players in the financial services space such as Ugonna Iheme, Director at Stears Advisory, Funmi Dele-Giwa, General Counsel at MFS Africa, and Elizabeth Rossiello, Founder & CEO at AZA Finance. The panel was moderated by Chris Wehbe, CEO at Lendable. The panel session was centred around fintech, particularly harnessing digitalisation in financing the Sustainable Development Goals (SDGs). Addressing Edmund, […]
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By Edmund Higenbottam, Managing Director, Verdant Capital, manager of the Verdant Capital Hybrid Fund Greater macro-economic volatility, as well as outright macro- economic headwinds, are likely to impact the asset allocations of both LPs and GPs for the balance of the decade. The early years of the 2020s, which were overshadowed by the COVID-19 pandemic and preceded armed conflict in Europe and sharp monetary policy changes in the US, saw a growth in the private credit asset class as a proportion of private capital in Africa, albeit from a low base. Will private credit continue to enjoy growth – both relative and absolute – in these […]
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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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The investment will support LOLC’s expansion strategy into Africa, through the financing of MSMEs, thereby promoting a high social and developmental impact including financial inclusion, employment creation, income generation, and economic growth. Verdant Capital is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) has completed a USD 9 million investment, structured as a holding company loan in LOLC Africa’s holding company, which will be invested in the lending subsidiaries in Zambia, Egypt, Kenya, Tanzania, Nigeria, Malawi, Zimbabwe, Ghana, and the Democratic Republic of Congo. LOLC, which was founded in 1980 in Sri Lanka, entered the African continent […]
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Verdant Capital was ranked No 4 by deal flow in 2022 in the prestigious DealMakers Africa M&A leagues tables, for the pan-Africa (ex-South Africa) region overall. DealMakers is the pre-eminent league table agency for Africa. In the East Africa region league table (Corporate Finance deal flow), Verdant Capital finished first in 2022. This follows the firm’s joint-first-place ranking in 2021. Verdant Capital completed M&A and private capital transactions in each East, West and Southern Africa. Verdant Capital’s landmark transactions in completed in 2022 included: the follow-on equity raise for WIOCC, the pan-African data centre and digital infrastructure player, taking the […]
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Picking up right where we left off last year, Verdant Capital participated in the first panel session to open up the 2023 edition of the Africa Fintech Summit in Nairobi which took place in February. Edmund Higenbottam represented the firm on this panel which played host to representatives of top venture capital firms on the African continent such as: Anthony Kimani, Investment Associate at Enza Capital, Amee Parbhoo, Managing Partner at Accion Venture Lab, Yvonne Okafor, Investment Officer at Untapped Global. The panel was moderated by Samuel Salako, Partner at DLA Piper Africa. The panel session centered around Fintech & […]
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Private Equity Africa (PEA) has announced that the Local Financial Advisor of the Decade award has been won by Verdant Capital. Verdant Capital also won the Local Financial Advisor Award of 2022 for the second year running. In their 11th year, the PEA awards are the ultimate accolade of success in the African Private Equity industry. The PEA 2022 Awards received highly competitive self-entries and were complemented by editorial recommendations from the PEA team and industry data. The final winners were selected by an independent panel of 20 judges which included representation from CDC, DEG, EBRD, IFC, Mbuyu Capital Partners, Wimmer Family […]
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The financial ecosystem in Africa is reaching an exciting new phase of development, especially in terms of the provision of financial services for the underbanked and unbanked. Inclusive financial institutions (IFIs) focusing on this segment of the market, and rather than traditional banks, continue to be at the vanguard of financial inclusion. For the IFI sector to continue expanding, it must attract additional capital, which in turn requires commercial success. The 2010s was a period of rapid evolution in important technologies, including mobile wallets, mobile payments, and means of data acquisition and aggregation. The middle and latter parts of the decade […]
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During 2021 only eight Vintage I funds in Africa reached first close in the year. Looking at Vintage I funds is an interesting reference point for the direction of change in the market overall. It is consistent with a theme we have seen in the market over the last few years – the growth in the number of specialist fund managers – while certain of the traditional large cap generalist pan-African players have battled raising capital for their new vintages, or in one or two cases have left the market altogether. We have seen demand from limited partners, for […]
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The Race for Payments in Africa: Where are we now and what’s next? Verdant Capital participated in an important panel discussion on the “race” for digital payments at the Africa Fintech Summit in Nairobi this past month. Imran Patel, Director at Verdant Capital, was joined by senior executives from Africa’s leading payments-focused fintechs: Amandine Lobelle, Head of Business at Paystack, Leon Kiptum, Kenya Country Director at Chipper Cash, Hilda Gathuya, Kenyan Country Manager at Global Accelerex, and Sike Bamisebi, Chief Business Officer at Cellulant. The panel was moderated by Tage Kene-Okafor of TechCrunch. The discussion covered key drivers of digital payments including […]
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Verdant Capital participated in an important panel discussion on the “race” for digital payments at the Africa Fintech Summit in Nairobi this past month. Imran Patel, Director at Verdant Capital, was joined by senior executives from Africa’s leading payments-focused fintechs: Amandine Lobelle, Head of Business at Paystack, Leon Kiptum, Kenya Country Director at Chipper Cash, Hilda Gathuya, Kenyan Country Manager at Global Accelerex, and Sike Bamisebi, Chief Business Officer at Cellulant. The panel was moderated by Tage Kene-Okafor of TechCrunch. The discussion covered key drivers of digital payments including competitive dynamics, cross-border expansion strategies, regulation, success in new markets, as well […]
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Verdant Capital was ranked joint No 1 by M&A deal flow for 2021 in the prestigious DealMakers Africa leagues tables, for the pan-Africa (ex-South Africa) region overall. DealMakers is the pre-eminent league table agency for Africa and announced its results for 2021 on March 11, 2022 In the East Africa region league table (deal flow), Verdant Capital finished joint first. In West Africa, Verdant Capital finished second. Landmark transactions completed by Verdant Capital in 2021 include the USD 80 million capital raise for leading pan-African telecoms infrastructure company, WIOCC, the USD 25 million capital raise for leading East Africa tech-enabled […]
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Category: Media, Opinion
Date: 26 August 2021
https://www.cnbcafrica.com/media/6269444453001/
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Verdant Capital – IMAP South Africa recently hosted its proprietary Video Africa virtual investor conference. Edmund Higenbottam, Managing Director at Verdant Capital shares details on the conference’s origins and explains why investor conferences such as theirs are so vital in terms of helping drive essential capital raising activities especially during the current economic crisis triggered by COVID-19. What led to you to decide to host your own investor conference? The first Video Africa was held last year during the first weeks of the disruption caused by the pandemic. We had been due to attend a large investor event in London, […]
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In February, Edmund Higenbottam discussed the increasingly broad opportunities for investors in Africa’s fintech sector with African Business. The podcast coincided with the UK-Africa Fintech Summit on February 3-4, 2021. The podcast discussed key recent developments driving investor interest, including the accelerated digitization of the financial services hierarchy, dating back to the launch of M-Pesa in Kenya in 2007. Payments is a natural starting point for digitization, given the lower risk and easier adoption as a platform. Even within payments, there has been layers of advancement; for example, Capricorn Digital of Nigeria has advanced its business model from payment of […]
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Category: Fintech, Media
Date: 8 February 2021
Edmund Higenbottam talks us through the vast opportunities for investors in Africa’s fintech sector. Read the full article and listen to the podcast here.
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Africa is currently home to just under 500 Fintech firms¹, with South Africa, Nigeria, and Kenya at the forefront of startup activity. So, what makes the continent so attractive? The African Fintech market is not only potentially very large, it is highly unpenetrated. Of the 1.1 billion people in sub-Sahara Africa, two-thirds of them are unbanked. Therefore, there is enormous scope for Fintechs to onboard these demographics into the financial sector. Furthermore, customers with access to credit is only a fraction of the proportion of the population with a bank account, so for innovative credit businesses, this is a huge […]
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In the December 2020 issue of the Africa Global Funds magazine, Verdant Capital’s Edmund Higenbottam discussed the trends driving growth in the African fintech sector, including drivers during the Covid-19 pandemic. The well-documented themes for the success of African fintechs include the under-penetration of financial services, but also the nominally low income levels and low density of its populations. “Last-mile” fintech businesses such as Baxi in Nigeria, whereby tens of thousands of merchants and micro-entrepreneurs “double” as agents in Baxi’s national network as well as in its digital platform provide critical “last mile” solutions to these challenges. Furthermore, a well-trained and cost […]
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In the December 2020, Verdant Capital’s Patrick Ball was a panelist in a session focused on overcoming trade barriers for African SMEs at the MFW4A’s Annual General Assembly. The session focused on the initiatives to facilitate trade finance in Africa, as well as the enabling potential arising from the advent of the African Continental Free Trade Area (AfCFTA). The discussions focused on the challenges and opportunities for African SMEs, notably new forms of finance building on supply chain links such as factoring that can increase their access to finance. Commenting on the impact of the Covid-19 pandemic on African trade […]
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Africa Global Funds, the leading industry journal covering private equity and other asset classes across Africa, awarded this accolade to Verdant Capital in recognition of the firm’s major transaction volumes in 2020 across M&A and private credit and across the Continent. Geographically, Verdant Capital completed transactions in South Africa, Uganda, Kenya, Ghana, Namibia with buyers and investors from the US, Switzerland, Germany, the UK, Japan, the Netherlands, Belgium, the Baltics, South Africa, and Nigeria. To read the full list of winners please see https://www.agfawards.com/
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Verdant Capital’s 2020 IFI survey points to a year of transition ahead. Verdant Capital’s 2020 survey of Inclusive Financial Institutions points to a year of transition ahead, in terms of accessing capital markets, restructuring relationships with borrowers and changed business models. The survey also looks at steps taken by IFIs to weather the storm presented by Covid-19 and related economic dislocation and to support clients. The key takeaways are summarised in this report. 57% of respondents indicated that they expect to raise equity or equity-like capital in early 2021. This is consistent with Verdant Capital’s experience that IFI clients are […]
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In October 2020, Africa Banker arranged an ESG and Sustainable Finance Panel, “Building Back Better”. Verdant Capital’s Managing Director, Mr. Edmund Higenbottam highlighted how sustainability issues have filtered into the wider African continent and into capital markets. There has been considerable growth in sustainable finance over the last few years, essentially reaching a record high of about USD 415 billion dollars at the end of last year, said Nigel Beck, Head of Sustainable Finance at Standard Bank. We are starting to notice a diverse diversification of products into social bonds, sustainable bonds, green loans as well as a kind of […]
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Over the past months, the financial inclusion sector has embarked on a journey to face the Covid-19 crisis. On the field, microfinance institutions have taken measures to face the health risks, lock downs and the economic recession. In the meantime, lenders, investors, support organisations and technical assistance providers had to adapt their intervention principles and coordinate their actions (1). By signing the Pledge on Key principles to protect microfinance institutions and their clients in the COVID-19 crisis (the “Pledge”), 30 organisations committed to complying with some key principles. Six months after the signature of the Pledge, a working group of […]
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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 […]
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Many businesses have been facing new challenges as a result of the COVID-19 Pandemic and related restrictions on ordinary life and commerce. While many businesses have enjoyed new opportunities, the net impact on most South African companies has been negative and many businesses have found themselves in financial distress. Verdant Capital is pleased to announce that it has partnered with the COBRA initiative – which stands for COVID Business Rescue Assistance. The COBRA initiative was established to provide assistance from professional advisors to South African businesses in need. Verdant Capital offers services both in respect of M&A advisory and restructuring […]
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Verdant Capital successfully held its inaugural Video Africa virtual investor conference on May 5-7. Over the three days, more than 150 one-on-one meetings were held with over 50 leading relevant investors and eight of our selected clients with operations in seven countries across Africa, ranging from microfinance banks to credit-only institutions and “fintechs”. For the foreseeable future, logistical challenges, especially around travel, will impact how cross-border investment flows are negotiated and diligenced. Video Africa plays an important role in stimulating access to finance for these types of institutions working within the parameters of the “new normal”. Such funding is important now […]
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Verdant Capital is pleased to announce that it has become a Signatory of the Responsible Finance Forum’s Investor Guidelines for Responsible Investing in Digital Financial Services For more info click here
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Category: Media
Date: 25 March 2020
https://www.theeastafrican.co.ke/business/DR-Congo-open-for-business-as-Kenyans-come-calling/2560-5499778-t5qudvz/index.html
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Given the increasing restrictions on travel in most countries, due to the Covid-19 pandemic, some impact on cross-border flows of investment are inevitable. However, Verdant Capital is committed to maintaining its funding initiatives for its clients as pro-actively as possible. In fact, the work of specialist banks, microfinance banks, microfinance institutions, and fintechs in facilitating credit to the real economy in Africa is now more important than ever. Over the last five years, Verdant Capital has arranged for clients each year in early May one-one-one investors meetings in London. In 2020, May 5 to May 7, Verdant Capital is hosting […]
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Verdant Capital advised OTI on the sale of MediSmart, a leading secure personal health informatics solution provider focused on the East African market. MediSmart provides a platform to manage information and claims submission for the medical sector by incorporating contactless smart card and biometric technologies. This enables efficient and secure access to medical information, transactions, claims and reporting. By enabling efficient patient identification and claims administration, MediSmart facilitates the broadest possible access to medical insurance. MediSmart is an example of the application of technology to further the goal of financial inclusion. OTI is listed on NASDAQ in New York. […]
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Category: Financial Inclusion Africa, Media, Opinion
Author: Edmund Higenbottam
Publication: MicroCapital Monitor, October 2018
Date: 17 November 2018
In recent years, the Inclusive Financial Institution sector has grown significantly in Africa and elsewhere, driven in part by growth in the global specialist investor base supporting the sector, and in part due to the growth of local debt markets. In Africa, this growth has stretched the equity capital bases of many institutions – and of the sector as a whole – due to the narrow range of equity and equity-like capital sources and instruments available to these institutions. One solution to this problem is hybrid capital, an intermediate capital type that sits between debt and equity while meeting the regulatory capital requirements of financial institutions. In Africa, […]
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Category: Media, Opinion
Author: Imran Patel
Date: 19 October 2018
The Democratic Republic of Congo (DRC) is a country with significant resources. Its surface area of 2.3 million square kilometres (km) spans the equivalent of two-thirds of the European Union. Despite its vast expanse, the country remains virtually unconnected due to the lack of basic infrastructure, agricultural production, and notable industrial base. As per the CIA World Factbook, only 2,794 km of paved road exists along with only 4,000 km of railways leaving the country disconnected and the population without access to affordable domestic transportation. In contrast to this reality, the DRC, with 80 million hectares of arable land and […]
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Verdant Capital has raised approx. BWP 256 million (approx. USD 25.6 million) for Letshego from leading European specialist and impact investors.
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Category: Financial Inclusion Africa, Media, Opinion
Author: Ed Higenbottam
Publication: MicroCapital Monitor, May 2018
Date: 5 May 2018
In 2009, India launched the world’s largest IT project, i.e. the Aadhaar biometric identification program. The program is intended to drive social and financial inclusion, reform public-sector service delivery, improve fiscal management, increase convenience, etc. An Aadhaar number can be viewed as a permanent financial address. Considering that almost the entire Indian population is now enrolled in Aadhaar – the underprivileged as well as the rich – it also can be viewed as a tool for justice and equality. The program consists of the following: A demographic database with a 12-digit number for each person, secured by fingerprint and retina […]
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Category: Media
Date: 18 April 2018
Conference panel recording at the TagPay Fintech Conference in Paris, 12 April 2018.
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Category: Financial Institutions, Media
Author: Alexis Beggs Olsen
Date: 26 February 2018
Ten years after the advent of M-PESA, Kenya is arguably inclusive digital finance’s most mature market and one of its ongoing innovation epicenters...
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Download Presentations: Responsible Investor Challenge (PDF, 221KB) Buyer Selection in a Responsible Equity Exit (PDF, 215KB) Evolution of the Indian Microfinance Sector (PDF, 257KB)
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Category: Media
Date: 16 January 2018
Download Presentations: The Advans Group in Africa Today (PDF, 336KB) European Microfinance Platform Panel (PDF, 299KB)
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Category: Media
Date: 16 January 2018
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Category: Media
Date: 16 January 2018
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Category: Media
Date: 16 January 2018
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Category: Media
Date: 16 January 2018
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Category: Media
Date: 16 January 2018
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This article is a synopsis of some of the key take-away points from “The Future of Financial Services” panel discussion at SuperReturn Africa in Cape Town on 5 December 2017 with the following panelists: Chijioke Dozie (CEO, OneFi) and Edmund Higenbottam (MD, Verdant Capital). OneFi is an innovative consumer lender in Nigeria, using technology to underwrite, disburse and collect loans. Edmund and Chijioke expect technology to be the driving force that will shape the future of the financial services industry in Africa. Technology is expected to play a significant role on a strategic level, as well as on an operational […]
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A number of issues were raised on the East AfricaCom Mobile Money panel in May regarding the future of the USSD mobile money channel, the breadth of services offered through the channel and the potential threats to and opportunities for this business model. The panel was hosted in Nairobi, Kenya, the birthplace of mobile money. Ed Higenbottam, Managing Director of Verdant Capital identified two competing themes: (i) the ever-broadening product offering through the USSD channel: payments, micro-loans, micro-insurance, remittances, micro-investments (for example the recent M-Akiba bond); and (ii) the long-term potential threat to the USSD-business model as a result of […]
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Category: Media
Author: Ed Higenbottam
Date: 6 June 2017
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Category: Media
Author: Edmund Higenbottam
Date: 16 November 2016
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Category: Media
Author: Edmund Higenbottam
Date: 6 May 2016
Panel Discussion – Mobile wallet usage is at an all time high so now what?
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Category: Media
Author: Edmund Higenbottam
Date: 5 May 2016
Panel discussion: Investing in mid sized African financial services companies – Lessons learned ($10–$25m equity investments).
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