Table of Contents
Key Points:
- United Capital Group, led by Peter Ashade, issued Sierra Leone’s first local currency corporate bond valued at $1.4 million.
- The bond issuance, advised by United Capital, supports LAPO SL’s mission to empower MSMEs, especially women-led businesses.
- The Africa Local Currency Bond Fund invested SLE27 million ($1.2 million), showing it’s confidence in Sierra Leone’s growing economy.
United Capital Group, led by Nigerian banker Peter Ashade, has successfully issued Sierra Leone’s first local currency corporate bond, valued at SLE32 million ($1.4 million).
This shows an achievement in the country’s financial sector and United Capital’s expanding influence across Africa.
United Capital’s investment banking division served as the Financial Adviser for the bond issuance by LAPO SL, a prominent microfinance institution in Sierra Leone.
The firm provided services, including structuring, financial advisory, and fundraising, to ensure the success of this groundbreaking transaction.
LAPO SL focuses on supporting micro, small, and medium enterprises (MSMEs) in Sierra Leone, particularly by offering affordable loans to women from low-income households. This bond will enable LAPO SL to enhance its financial support to these communities, promoting economic empowerment and financial inclusion.
Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Group, expressed his excitement over the transaction. He said,
“We are pleased to have advised LAPO SL on this landmark transaction. It not only strengthens the corporate bond framework but also deepens the Sierra Leonean capital market.” Adenrele emphasized United Capital’s commitment to enhancing the capital market ecosystem across Africa through such innovative transactions.
United Capital’s expansion across Africa
Peter Ashade, Group CEO of United Capital, highlighted the broader impact of the bond issuance.
“This successful corporate bond issuance in Sierra Leone is a testament to our strategic focus on expanding United Capital’s presence across Africa,” Ashade stated.
He added that United Capital aims to open up new opportunities and increase economic growth across the continent by leveraging its expertise and resources.
The Africa Local Currency Bond Fund acted as the anchor investor, contributing approximately SLE27 million ($1.2 million) to the bond. This interest reflects growing confidence in Sierra Leone’s economy and the potential for further capital market developments.
Ashade also pointed to United Capital’s history of leading major listings across Africa, including the Transcorp Power IPO on the Nigerian Exchange, which had a market capitalization of N1.8 trillion ($80 billion).
