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Izwe Loans Kenya Limited is a non-bank financial institution offering loan products to formally employed but underbanked individuals. Founded in 2014, the company has served over 28,000 individuals, with an average loan size of ca KES 108,000 (USD 1,000).
✓ This was Izwe Kenya’s first bond issuance and the first time that the institution has accessed debt finance in local currency.
✓ Local investors made-up 81% of the issuance, and 93% of the investment was in 3 year notes.
✓ Izwe Kenya Loans Limited is an integral player in micro-lending with an expanding focus on SME loan products.
Izwe Loans Kenya Limited is a non-bank financial institution offering loan products to formally employed but underbanked individuals. Founded in 2014, the company has served over 28,000 individuals, with an average loan size of ca KES 108,000 (USD 1,000).
Enda Tamweel is the incorporated spin-off of Edna Inter-Arabe, an NGO that first introduced microfinance to Tunisia in 1995. Enda Tamweel operates as a non-deposit taking microfinance institution, providing loans and microinsurance products to micro-entrepreneurs. Since its creation, Enda has supported nearly 900,000 micro-entrepreneurs and disbursed over TND 4.7 billion (USD 1.7 billion).
✓ Enda contributes to the financial empowerment of marginalized populations excluded from the mainstream financial system by promoting entrepreneurship. The company mainly focuses on three types of customers: women, farmers and young entrepreneurs
Enda Tamweel is the incorporated spin-off of Edna Inter-Arabe, an NGO that first introduced microfinance to Tunisia in 1995. Enda Tamweel operates as a non-deposit taking microfinance institution, providing loans and microinsurance products to micro-entrepreneurs. Since its creation, Enda has supported nearly 900,000 micro-entrepreneurs and disbursed over TND 4.7 billion (USD 1.7 billion).
Sonatel is a West African telecommunications company operating in Senegal, Mali, Sierra Leone, Guinea-Conakry and Guinea-Bissau. The group’s main subsidiaries are marketed under the brand Orange and offer a diverse ranged of mobile and fixed-line communication solutions. Sonatel’s product offerings cater to a broad range of clients across the income spectrum; providing critical infrastructure to facilitate business activities and ensure connectivity.
✓ Innovative transaction for local market (largest corporate bond in WAEMU region)
Sonatel is a West African telecommunications company operating in Senegal, Mali, Sierra Leone, Guinea-Conakry and Guinea-Bissau. The group’s main subsidiaries are marketed under the brand Orange and offer a diverse ranged of mobile and fixed-line communication solutions. Sonatel’s product offerings cater to a broad range of clients across the income spectrum; providing critical infrastructure to facilitate business activities and ensure connectivity.
NSIA Banque is an Ivorian bank that is the fourth-largest institution in Cote d’Ivoire (by loan book) and has a longstanding history of supporting the agriculture and SME sector in Cote d’Ivoire. The company issued the first securitisation by a bank and second financial institution sector securitisations in the WAEMU region.
✓ First time issuer
✓ SME lending book
✓ Innovative transaction for local market (first bank
NSIA Banque is an Ivorian bank that is the fourth-largest institution in Cote d’Ivoire (by loan book) and has a longstanding history of supporting the agriculture and SME sector in Cote d’Ivoire. The company issued the first securitisation by a bank and second financial institution sector securitisations in the WAEMU region.
TUHF is a development finance company that provides financing to entrepreneurs, landlords, and social organisations for the purchase, construction, conversion and improvement of properties in inner cities. Since commencing operations in 1993, TUHF has disbursed over ZAR 4 billion (USD 280 million) in property finance loans to more than 1,000 entrepreneurs.
✓ Property finance book
✓ Including verified green loans
TUHF is a development finance company that provides financing to entrepreneurs, landlords, and social organisations for the purchase, construction, conversion and improvement of properties in inner cities. Since commencing operations in 1993, TUHF has disbursed over ZAR 4 billion (USD 280 million) in property finance loans to more than 1,000 entrepreneurs.
Banque de l’Habitat du Senegal (BHS) is the largest mortgage and property development finance provider in Senegal, with 70% and 75% market share respectively. Since inception, BHS has provided over 200,000 mortgages for social housing in Senegal.
✓ First time issuer
✓ Property finance book
✓ First housing bank to issue bond in UEMOA region
Banque de l’Habitat du Senegal (BHS) is the largest mortgage and property development finance provider in Senegal, with 70% and 75% market share respectively. Since inception, BHS has provided over 200,000 mortgages for social housing in Senegal.
Nedbank Group is one of the largest financial services groups in Africa. Nedbank is coming to market with its first green bond – encompassing solar and wind assets – under the Climate Bonds Standards. This is part of the company’s new SDG Impact MTN program, which sets in place guidelines for sustainable, green, and social impact bonds.
✓ Future lending in SA's successful renewable energy program
✓ Refinancing of four solar and wind assets operating under the REIPPP programme.
Nedbank Group is one of the largest financial services groups in Africa. Nedbank is coming to market with its first green bond – encompassing solar and wind assets – under the Climate Bonds Standards. This is part of the company’s new SDG Impact MTN program, which sets in place guidelines for sustainable, green, and social impact bonds.
Izwe Ghana is a provider of savings and loan products to formally employed but underbanked individuals. Founded in 2011, the company has grown to provide loans to over 60,000 people across the country. In 2018, Izwe Ghana exhausted its GHS 80 million MTN program following issuances and has requested a bridge loan while securing SEC approval for a new MTN programme.
✓ Loan book expansion
Izwe Ghana is a provider of savings and loan products to formally employed but underbanked individuals. Founded in 2011, the company has grown to provide loans to over 60,000 people across the country. In 2018, Izwe Ghana exhausted its GHS 80 million MTN program following issuances and has requested a bridge loan while securing SEC approval for a new MTN programme.
North South Power Company (NSP) is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant. Fed by the Kaduna River, it generates ca. 8% of Nigeria’s grid power. The company runs an on-grid operational model and its plant has four generating units with an individual capacity of 150MW. The company distributes power through the grid to distribution companies across Nigeria and is the primary supplier of power to the Federal Capital Territory, Abuja.
✓ Local commercial banks have limited capacity for new loans to domestic power sector operators. Through InfraCredit and the ALCB Fund, the Company was able to access long-term institutional funding to match the profile of infrastructure assets, the first of its kind by a privatized power Generating Company (GenCo).
✓ The Green Bonds is the first certified green corporate bond and the longest tenured (15 year) corporate bond issued in the Nigerian debt capital market, and provides a benchmark for similar future issuances in the grid-based power sector.
North South Power Company (NSP) is the operator of a 30-year concession on the 600MW Shiroro Hydroelectric Power Plant. Fed by the Kaduna River, it generates ca. 8% of Nigeria’s grid power. The company runs an on-grid operational model and its plant has four generating units with an individual capacity of 150MW. The company distributes power through the grid to distribution companies across Nigeria and is the primary supplier of power to the Federal Capital Territory, Abuja.
Oragroup is a pan-African financial service provider with operations in 12 countries across francophone West and Central Africa with a focus on serving SMEs.
✓ Proceeds will support Oragroup’s business growth in Gabon and Chad, and to facilitate entry into Cameroon and Congo. The bond will target the CEMAC investor community, helping to diversify funding sources and match the currency of Oragroup’s loans.
✓ This is Oragroup’s first time issuing a bond in the CEMAC region where it is only the third known corporate bond issued in the past decade.
✓ Oragroup is the largest SME lender in Franco-Africa and has partnered with several DFIs to support lending to sectors often overlooked by banks. SMEs are its largest client base and compose 31% of the group and 35% of the CEMAC loan portfolio.
Oragroup is a pan-African financial service provider with operations in 12 countries across francophone West and Central Africa with a focus on serving SMEs.
Ghana Home Loans is a mortgage and housing finance provider based in Accra. To date, it remains the only institution dedicated solely to mortgage financing in Ghana and has disbursed over USD 120 million in housing loans. GHL’s lending is predominantly in US Dollars, which offers clients a lower interest rate but exposes them to FX fluctuations.
✓ Access to housing finance is limited in Ghana, with the mortgage market in a nascent state. Mortgage beneficiaries for the bond will be formally employed households, including lower middle, middle and upper income groups.
✓ The structure is highly innovative within the Ghanaian capital markets, whereby GHL Bank originates mortgages through bank liquidity facilities and then refinances them by pledging qualifying loans to a mortgage pool which acts as collateral for the bond.
Ghana Home Loans is a mortgage and housing finance provider based in Accra. To date, it remains the only institution dedicated solely to mortgage financing in Ghana and has disbursed over USD 120 million in housing loans. GHL’s lending is predominantly in US Dollars, which offers clients a lower interest rate but exposes them to FX fluctuations.
Platinum Credit Limited is a credit-only institution that provides micro lending services in Kenya, serving a mix of public and private sector employees through at-source deduction loans and asset-backed log book financing. The company is also in the process of developing an SME lending product. Since commencing operations, Platinum Kenya has served over 120,000 individuals and grown its loan book to KES 4.6 billion (USD 45 million).
✓ Kenya’s corporate bond market has regressed in the past two years; Investor confidence in capital markets has dissipated, reducing the amount of new transactions coming to market. The transaction supports the reopening of the market and funding to the micro-lending sector.
✓ Platinum Kenya operates in a developmental sector, catalysing investment into micro-lending, asset financing and SME lending.
✓ The four years investment will support the Issuer in extending the tenor of its program, which has historically issued at 1 - 2 years. Part of the proceeds will support a roll out of a new SME-lending product.
Platinum Credit Limited is a credit-only institution that provides micro lending services in Kenya, serving a mix of public and private sector employees through at-source deduction loans and asset-backed log book financing. The company is also in the process of developing an SME lending product. Since commencing operations, Platinum Kenya has served over 120,000 individuals and grown its loan book to KES 4.6 billion (USD 45 million).
SA Home Loans (SAHL) is one of the largest mortgage providers in South Africa, providing a full range of home finance and credit solutions. Amber House Fund 5 (AHF5) is a ringfenced securitisation vehicle managed by SAHL, with AHF5 purchasing the secured mortgage receivables originated by SAHL. The pool of mortgages is composed of a mix of civil servant (payroll deducted) and conventional mortgages. Affordable mortgages provided to individuals with a monthly household income of less than ZAR 23,000 (USD 1,600) make up 45% of the pool.
✓ Transaction is the first to mobilize institutional investors specifically for affordable housing.
✓ Supports SAHL to diversify the funding sources allocated to its affordable-housing business unit.
SA Home Loans (SAHL) is one of the largest mortgage providers in South Africa, providing a full range of home finance and credit solutions. Amber House Fund 5 (AHF5) is a ringfenced securitisation vehicle managed by SAHL, with AHF5 purchasing the secured mortgage receivables originated by SAHL. The pool of mortgages is composed of a mix of civil servant (payroll deducted) and conventional mortgages. Affordable mortgages provided to individuals with a monthly household income of less than ZAR 23,000 (USD 1,600) make up 45% of the pool.
Mixta Nigeria is a property development company with developments currently ongoing in Lagos and Port Harcourt and stretching across a variety of affordable, middle and luxury retail residential properties. Mixta has a robust affordable housing pipeline for which the ALCB Fund’s proceeds will be directed towards, the largest of which is the affordable housing development Residence de la Paix. The first two phases are on-going and is expected to be the first of many subsequent phases across Nigeria. The affordable housing sector is both challenging and high impact, and Mixta is one of the few bankable companies serving the area.
✓ Anchor investment in the firm’s first unguaranteed tranche to maximize investor reach and contribute to market stability.
✓ Refinance of expensive bank debt; first time for the firm to issue 5-year debt.
✓ Sectoral development: use of proceeds will be directed towards a robust pipeline of affordable housing.
Mixta Nigeria is a property development company with developments currently ongoing in Lagos and Port Harcourt and stretching across a variety of affordable, middle and luxury retail residential properties. Mixta has a robust affordable housing pipeline for which the ALCB Fund’s proceeds will be directed towards, the largest of which is the affordable housing development Residence de la Paix. The first two phases are on-going and is expected to be the first of many subsequent phases across Nigeria. The affordable housing sector is both challenging and high impact, and Mixta is one of the few bankable companies serving the area.
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BaySec is a securitisation vehicle for Bayport SA (BFS SA), which provides unsecured credit to individuals underserved by traditional credit providers. Most borrowers are individuals with relatively low earnings (ZAR 5,000-15,000) who, despite being employed, are unable to accumulate assets. Use of loan proceeds include housing, health and education. BFS SA is being transformed into an empowered financial services company, with the Government Employees Pension Fund (GEPF) as a shareholder.
✓ Market Development: encourage market transparency by requiring Class B notes to be listed and rated.
✓ Proceeds will be used to expand the company’s loan book, providing access to long-dated funding that matches its asset profile and potentially reduces pricing.
✓ Benefitting underserved individuals: use of proceeds include housing, health and education.
BaySec is a securitisation vehicle for Bayport SA (BFS SA), which provides unsecured credit to individuals underserved by traditional credit providers. Most borrowers are individuals with relatively low earnings (ZAR 5,000-15,000) who, despite being employed, are unable to accumulate assets. Use of loan proceeds include housing, health and education. BFS SA is being transformed into an empowered financial services company, with the Government Employees Pension Fund (GEPF) as a shareholder.
Opportunity Bank is a regulated commercial bank with operations in eight regions across Mozambique. The company was founded by Opportunity Group 2005 and acquired by MyBucks SA in 2015. Opportunity Bank offers a diverse range of savings and credit products and is in the process of rolling-out a mobile lending platform. While Opportunity Bank is mostly providing MSME Loans at present, the company expects payroll lending and agriculture loans to become more substantial portions of its total loan book.
✓ Investor diversification and mobilization of institutional investors
✓ Re-invigoration of capital market stifled by recent financial crisis
✓ Access to funding for MSMEs, Agriculture and low-income households in a market where access to financial services remain limited
Opportunity Bank is a regulated commercial bank with operations in eight regions across Mozambique. The company was founded by Opportunity Group 2005 and acquired by MyBucks SA in 2015. Opportunity Bank offers a diverse range of savings and credit products and is in the process of rolling-out a mobile lending platform. While Opportunity Bank is mostly providing MSME Loans at present, the company expects payroll lending and agriculture loans to become more substantial portions of its total loan book.
Musoni is a credit-only financial institution that serves micro-entrepreneurs, farmers and agriculture support service providers. The company does this through a diverse range of both group and individual loan products. Musoni defines itself as “Hi-tech, Hi-touch” microfinance provider; utilizing technology to enhance efficiency while also ensuring appropriate client engagement to minimize credit risk. Since commencing operations the company has grown to serve more than 20,000 clients with a total portfolio of over KES 1 billion (USD 10 million).
✓ Introduction of new issuer to the local market
✓ Reduced FX risk alongside expanded investor base
✓ Loan expansion contributes to financial inclusion (75% of clients are categorized as “poor”, living off less than USD 2.50 per day) and especially benefitting female and rural borrowers
✓ Job creation: provision of credit to micro-entrepreneurs and the agriculture sector
Musoni is a credit-only financial institution that serves micro-entrepreneurs, farmers and agriculture support service providers. The company does this through a diverse range of both group and individual loan products. Musoni defines itself as “Hi-tech, Hi-touch” microfinance provider; utilizing technology to enhance efficiency while also ensuring appropriate client engagement to minimize credit risk. Since commencing operations the company has grown to serve more than 20,000 clients with a total portfolio of over KES 1 billion (USD 10 million).
Honde Hydro, a wholly owned subsidiary of PGI Group, is an IPP that develops and operates renewable energy projects in Zimbabwe’s Eastern Highlands, primarily run-of-the river hydroelectric projects.
✓ Onshore transaction limits currency exposure of the issuer
✓ Sole IPP supplying power in the region and has strong ties and engagement with the community
✓ Adds low-cost, reliable and clean electricity to the national grid, which ultimately benefits low-income households and enables SME growth
Honde Hydro, a wholly owned subsidiary of PGI Group, is an IPP that develops and operates renewable energy projects in Zimbabwe’s Eastern Highlands, primarily run-of-the river hydroelectric projects.
Senelec is the Senegalese power utility responsible for the production, transport, distribution and sale of electricity. The company has been raising funds through the local market to support improved power supply/services, including the integration of renewable energy in the power supply.
✓ First company bond issuance since 2003
✓ Job creation; improved electricity access to target sectors
✓ Responsible consumption through improved grid efficiency
✓ Distribution upgrades to accommodate new renewables generations
Senelec is the Senegalese power utility responsible for the production, transport, distribution and sale of electricity. The company has been raising funds through the local market to support improved power supply/services, including the integration of renewable energy in the power supply.
Growthpoint is a South African real estate investment trust (REIT). The company manages a diverse range of retail, industrial and housing properties and is at the forefront in the development of sustainable building practices. In 2018, Growthpoint issued the first non-FI green bond in South Africa and now soon expects all of its properties to be Green Building Council of South Africa (GBCSA) Green Star certified.
✓ First corporate green bond in SA
✓ First long-dated (10Y) bond by Issuer
✓ Job creation; building use in target sectors
Growthpoint is a South African real estate investment trust (REIT). The company manages a diverse range of retail, industrial and housing properties and is at the forefront in the development of sustainable building practices. In 2018, Growthpoint issued the first non-FI green bond in South Africa and now soon expects all of its properties to be Green Building Council of South Africa (GBCSA) Green Star certified.
The Swaziland Development Finance Corporation (Fincorp Group) is a consortium of three financial institutions that provides SME and consumer finance loans as well as insurance brokerage services with material exposure to the agriculture sector. Since commencing operations in 1995, the company has disbursed over SZL 3 billion (USD 157 million) to over 80,000 beneficiaries.
✓ SME/Agriculture lending book
✓ Lengthening of maturity profile of issuers bond programme
The Swaziland Development Finance Corporation (Fincorp Group) is a consortium of three financial institutions that provides SME and consumer finance loans as well as insurance brokerage services with material exposure to the agriculture sector. Since commencing operations in 1995, the company has disbursed over SZL 3 billion (USD 157 million) to over 80,000 beneficiaries.
LAPO Microfinance Bank Ltd. is Nigeria’s largest microfinance bank and provides pro-poor financial solutions through its 406 branches to over two million clients. LAPO’s portfolio is composed of group loans largely catered to female entrepreneurs as well as products catered to SMEs, education, solar lighting and incremental housing finance.
✓ Reduced foreign currency exposure and diversified funding sources
✓ First Nigerian microfinance bank to issue bond in Nigeria
✓ Micro-entrepreneurs, MSMEs, education, renewable energy, housing
LAPO Microfinance Bank Ltd. is Nigeria’s largest microfinance bank and provides pro-poor financial solutions through its 406 branches to over two million clients. LAPO’s portfolio is composed of group loans largely catered to female entrepreneurs as well as products catered to SMEs, education, solar lighting and incremental housing finance.
Platinum Uganda is a non-deposit taking credit provider offering microfinance services to public sector and private sector salaried employees. Loans fund a variety of purposes including emergency expenditures, working capital, housing, school fees and agriculture.
✓ First issuance by a microcredit provider in the country
✓ Supporting longer dated local issuances (5 year)
✓ Portion of lending book proceeds dedicated to education
Platinum Uganda is a non-deposit taking credit provider offering microfinance services to public sector and private sector salaried employees. Loans fund a variety of purposes including emergency expenditures, working capital, housing, school fees and agriculture.
Select Malawi is a retail financial services company that provides unsecured lending primarily to civil servants. The company’s competitive strength lies in the provision of incremental housing microfinance loans in cooperation with Habitat for Humanity, who offer technical advice to clients looking to build their own homes.
✓ Proceeds used for housing and micro-credit
✓ First corporate issuance in Malawi
Select Malawi is a retail financial services company that provides unsecured lending primarily to civil servants. The company’s competitive strength lies in the provision of incremental housing microfinance loans in cooperation with Habitat for Humanity, who offer technical advice to clients looking to build their own homes.
Dufil Prima Foods (DPF) is a food production company, with its flagship product being flavoured instant noodles. The company also engages in the production of complimentary products including flour, snack products, seasoning, vegetable oil and flexible wrappers. The company is well-integrated within the Nigerian agriculture/agro-processing value chains and plans to increase domestic input purchasing.
✓ First time bond issuer
✓ Ensured Issuer filled book
✓ Agriculture value chain catalyst
Dufil Prima Foods (DPF) is a food production company, with its flagship product being flavoured instant noodles. The company also engages in the production of complimentary products including flour, snack products, seasoning, vegetable oil and flexible wrappers. The company is well-integrated within the Nigerian agriculture/agro-processing value chains and plans to increase domestic input purchasing.
Lesana is a retail financial services company specialized in the provision of incremental housing microfinance loans. The company is the second largest micro-lender in Lesotho, serving civil servants and salaried private sector individuals. The company is a member of the Select Africa group.
✓ Proceeds used for housing and micro-credit
✓ First corporate issuance in Lesotho (2016)
✓ Second corporate issuance in Lesotho (2019)
✓ Technical support to regulatory authorities (2016)
Lesana is a retail financial services company specialized in the provision of incremental housing microfinance loans. The company is the second largest micro-lender in Lesotho, serving civil servants and salaried private sector individuals. The company is a member of the Select Africa group.
Alios Finance Cote d’Ivoire provides leasing finance and micro-loans to SMEs and corporates and individuals (public and private sector employees). Leasing products are largely for the utilisation of moveable productive assets including heavy equipment and vehicles. The company serves the UEMOA region, with subsidiaries in Mali, Senegal and Burkina Faso.
✓ Provider of financial services for SME/micro-enterprise development
✓ First publicly listed issuance by company
✓ Regional bond with proceeds allocated to Burkina, Senegal and Mali
Alios Finance Cote d’Ivoire provides leasing finance and micro-loans to SMEs and corporates and individuals (public and private sector employees). Leasing products are largely for the utilisation of moveable productive assets including heavy equipment and vehicles. The company serves the UEMOA region, with subsidiaries in Mali, Senegal and Burkina Faso.
ZHL is a mortgage finance company providing local currency long-term financing (up to 21 years) to low and middle-income home builders or buyers. It is the only lender in the country that provides incremental mortgages for the construction of a home.
✓ Provider of affordable housing finance
✓ Diversification of issuer’s investor base
✓ Reduced asset-liability mismatch and longer maturity profile
ZHL is a mortgage finance company providing local currency long-term financing (up to 21 years) to low and middle-income home builders or buyers. It is the only lender in the country that provides incremental mortgages for the construction of a home.
GetBucks Botswana is a Fintech company providing credit and insurance products to the under-banked. The company provides simplified financial products through virtual channels alongside its branch network, serving salaried government and private sector employees through its 14 service points and 88 agents.
✓ First time bond issuer (2017)
✓ Reduced funding costs passed on to borrowers
✓ Material portion of loan proceeds used for education
GetBucks Botswana is a Fintech company providing credit and insurance products to the under-banked. The company provides simplified financial products through virtual channels alongside its branch network, serving salaried government and private sector employees through its 14 service points and 88 agents.
Baobab Sénégal is a pro-poor financial institution committed to providing financial services and products to individuals underserved by the financial sector, particularly MSME entrepreneurs. Baobab Senegal is part of the Baobab Group, operating in nine African and Asian countries.
✓ First time issuer
✓ MSME lending book (2016 & 2019)
✓ First traditional MFI to issue bond in UEMOA region
Baobab Sénégal is a pro-poor financial institution committed to providing financial services and products to individuals underserved by the financial sector, particularly MSME entrepreneurs. Baobab Senegal is part of the Baobab Group, operating in nine African and Asian countries.
Madison Finance is a Zambian deposit-taking microfinance institution that provides specialist lending to SMEs and individual borrowers. The company has 17 branches nationwide with over 21,000 borrowers.
✓ SME and micro-lending book
✓ First time issuer
Madison Finance is a Zambian deposit-taking microfinance institution that provides specialist lending to SMEs and individual borrowers. The company has 17 branches nationwide with over 21,000 borrowers.
IZWE Zambia provides financial services to formally employed but unbanked individuals in Africa, primarily civil servants. The company currently has 10 branches across Zambia, with a strong rural and peri-urban presence.
✓ Lengthening of maturity profile of bond programme (2015 & 2018)
✓ Proceeds used for education, health and housing
IZWE Zambia provides financial services to formally employed but unbanked individuals in Africa, primarily civil servants. The company currently has 10 branches across Zambia, with a strong rural and peri-urban presence.
AFB provides financial services to the unbanked in Ghana, providing a variety of deposit and lending options, including deduction at source loans, mobile lending and SME loans. The company was acquired by Letshego, a pan-African micro-lender, in 2017.
✓ Reduction of FX risk and lengthening of lending maturity profile
✓ First time issuer (2015) following by successful follow-ons
✓ Extend maturity profile of bond programme (2018)
✓ Proceeds used for education and micro-enterprise development
AFB provides financial services to the unbanked in Ghana, providing a variety of deposit and lending options, including deduction at source loans, mobile lending and SME loans. The company was acquired by Letshego, a pan-African micro-lender, in 2017.
CRRH is a mortgage refinancing facility operating across the UEMOA region. The facility provides long-term funding to mortgage banks with the objective of facilitating the development of the regional mortgage market. In 2017, CRRH introduced a secondary facility in partnership with international organizations to develop a dedicated credit line for supporting affordable housing finance.
✓ First time bond issuer
✓ Innovative financing structure for mortgages
✓ Proceeds used for the development of affordable housing
CRRH is a mortgage refinancing facility operating across the UEMOA region. The facility provides long-term funding to mortgage banks with the objective of facilitating the development of the regional mortgage market. In 2017, CRRH introduced a secondary facility in partnership with international organizations to develop a dedicated credit line for supporting affordable housing finance.
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