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Investment
Country
Status
IZWE Ghana
Matured
IZWE Ghana
Izwe Savings & Loans was established in 2011 as part of the Izwe Africa Group, which was founded in South Africa in 2004. Since its inception, the company has expanded its footprint across Africa, including operations in Ghana. Izwe primarily offers personal loans, business loans, payroll loans, and savings and investment products to individuals and small businesses, focusing on financial empowerment and accessibility.
Issue Date
Mar-19
Maturity Date
Apr-21
Sector
Issuer
Izwe Ghana
Group
Izwe
Reasons of Investment
ALCB has invested in this transaction to support the company's efforts to raise long-term funding through the bond market, enabling it to increase tenors from 5-7 years compared to previous shorter-term issuances, thus contributing to the development of the local capital market's yield curve. The ALCB Fund reinvested in this issuancein 2020.
Status
Matured
LCY
GHS
Investment (LCY)
80,000,000
Investment (USD)
13,992,674
Co-Investment (USD million)
SDG Contributions
IZWE Kenya
Matured
IZWE Kenya
Izwe Kenya was established in 2014 as part of the Izwe Africa Group, a financial institution that began in South Africa in 2008. Izwe Kenya offers personal loans, business loans, asset-backed loans, savings solutions, and investment options mainly aimed at government employees and SMEs in Kenya.
Issue Date
Mar-21
Maturity Date
Mar-24
Sector
Issuer
Izwe Kenya
Group
Izwe
Reasons of Investment
ALCB has invested in this transaction to support a first-time issuer, aiming to revitalize Kenya's corporate bond market by encouraging its reopening and providing funding to the Microlending sector, following a period of regression due to defaults in 2016/17 that diminished investor confidence.
Status
Matured
LCY
KES
Investment (LCY)
250,000,000
Investment (USD)
2,279,884
Co-Investment (USD million)
8.66
SDG Contributions
IZWE Zambia I
Matured
IZWE Zambia I
Izwe Zambia was established in 2008. It is a non-deposit taking financial institution licensed by the Bank of Zambia and is a subsidiary of Izwe Africa Group. Izwe Zambia provides various financial services, including personal loans, salary advance loans, auto loans (Car4Cash), landed property loans, and business financing options. Additionally, it runs the Izwe Pay platform, facilitating digital payments and financial inclusion.
Issue Date
Oct-15
Maturity Date
Oct-19
Sector
Issuer
Izwe Zambia
Group
Izwe
Reasons of Investment
ALCB has invested in this transaction to support IZWE Zambia's first 'market size' issuance, acting as an anchor investor for the 4-year tranche in a challenging Zambian fundraising environment, enabling the company to place a longer tenor that would be difficult or impossible without ALCB's participation, while reaffirming IZWE's position as a repeat issuer in the market.
Status
Matured
LCY
ZMW
Investment (LCY)
36,100,000
Investment (USD)
3,331,119
Co-Investment (USD million)
7.86
SDG Contributions
IZWE Zambia II
Matured
IZWE Zambia II
Izwe Zambia was established in 2008. It is a non-deposit taking financial institution licensed by the Bank of Zambia and is a subsidiary of Izwe Africa Group. Izwe Zambia provides various financial services, including personal loans, salary advance loans, auto loans (Car4Cash), landed property loans, and business financing options. Additionally, it runs the Izwe Pay platform, facilitating digital payments and financial inclusion.
Issue Date
Mar-18
Maturity Date
Mar-23
Sector
Issuer
Izwe Zambia
Group
Izwe
Reasons of Investment
ALCB has reinvested in this transaction to support IZWE Zambia's enabling the company to place a longer tenor that would be difficult or impossible without ALCB's participation, while reaffirming IZWE's position as a repeat issuer in the market.
Status
Matured
LCY
ZMW
Investment (LCY)
50,000,000
Investment (USD)
5,128,205
Co-Investment (USD million)
SDG Contributions
IZWE Zambia III
Active
IZWE Zambia III
Izwe Zambia was established in 2008. It is a non-deposit taking financial institution licensed by the Bank of Zambia and is a subsidiary of Izwe Africa Group. Izwe Zambia provides various financial services, including personal loans, salary advance loans, auto loans (Car4Cash), landed property loans, and business financing options. Additionally, it runs the Izwe Pay platform, facilitating digital payments and financial inclusion.
Issue Date
Jul-2025
Maturity Date
Oct-2028
Sector
Issuer
Izwe Zambia
Group
Izwe
Reasons of Investment
ALCB has reinvested in this transaction to support IZWE Zambia's enabling the company to place a longer tenor that would be difficult or impossible without ALCB's participation, while reaffirming IZWE's position as a repeat issuer in the market.
Status
Active
LCY
ZMW
Investment (LCY)
116,000,000
Investment (USD)
5,000,000
Co-Investment (USD million)
SDG Contributions
Kenya Mortgage Refinance Company
Active
Kenya Mortgage Refinance Company
Kenya Mortgage Refinance Company (KMRC) was established in August 2018 as a public-private partnership between the Kenyan government and major mortgage lenders. The company was created to address the challenges of home financing in Kenya and is positioned to facilitate greater access to affordable mortgages, thereby contributing to the government's housing agenda. KMRC provides long-term refinancing to primary mortgage lenders, including banks and SACCOs, to support the issuance of affordable mortgages.
Issue Date
Mar-22
Maturity Date
Feb-29
Sector
Issuer
Kenya Mortgage Refinance Company
Group
Kenya Mortgage Refinance Company
Reasons of Investment
ALCB has invested in this transaction to leverage a secured mortgage-finance model, facilitating affordable funding for mortgage lenders through Kenya's corporate bond market, thereby playing a critical role in the success of this first issuance and encouraging further innovation in the housing finance sector.
Status
Active
LCY
KES
Investment (LCY)
77,800,000
Investment (USD)
603,662
Co-Investment (USD million)
10.78
SDG Contributions
LAPO Microfinance I
Matured
LAPO Microfinance I
LAPO Microfinance Bank Limited was initially established as a non-governmental organization in the late 1980s. It evolved into a microfinance bank in 2010. Initially, it began operations to alleviate poverty and empower low-income individuals. Today, LAPO is one of the leading microfinance institutions in Nigeria and Sierra Leone, focusing on financial inclusion and economic empowerment.
Issue Date
Dec-17
Maturity Date
Dec-22
Sector
Issuer
LAPO Microfinance
Group
LAPO Microfinance
Reasons of Investment
ALCB has invested in this transaction to support LAPO's groundbreaking issuance as the first bond by a Nigerian microfinance institution, providing crucial scrutiny of legal documentation and committing to an investment ahead of the roadshow, thereby introducing a new issuer to the market.
Status
Matured
LCY
NGN
Investment (LCY)
2,000,000,000
Investment (USD)
5,000,000
Co-Investment (USD million)
17.14
SDG Contributions
LAPO Microfinance II
Matured
LAPO Microfinance II
LAPO Microfinance Bank Limited was initially established as a non-governmental organization in the late 1980s. It evolved into a microfinance bank in 2010. Initially, it began operations to alleviate poverty and empower low-income individuals. Today, LAPO is one of the leading microfinance institutions in Nigeria and Sierra Leone, focusing on financial inclusion and economic empowerment.
Issue Date
Mar-20
Maturity Date
Mar-25
Sector
Issuer
LAPO Microfinance
Group
LAPO Microfinance
Reasons of Investment
ALCB has invested in this transaction to signal continued confidence in LAPO, encouraging local pension fund participation while providing additional liquidity for the bank to extend credit to SMEs and low-income households.
Status
Matured
LCY
NGN
Investment (LCY)
1,000,000,000
Investment (USD)
2,743,484
Co-Investment (USD million)
SDG Contributions
LAPO Sierra Leone
Active
LAPO Sierra Leone
LAPO Microfinance Bank Limited was initially established as a non-governmental organization in the late 1980s. It evolved into a microfinance bank in 2010. Initially, it began operations to alleviate poverty and empower low-income individuals. Today, LAPO is one of the leading microfinance institutions in Nigeria and Sierra Leone, focusing on financial inclusion and economic empowerment.
Issue Date
Jun-24
Maturity Date
Jun-26
Sector
Issuer
LAPO Microfinance Bank Sierra Leone Ltd
Group
LAPO Microfinance
Reasons of Investment
ALCB has invested in this transaction to support the revival of Sierra Leone's debt capital market by backing a first-time issuer, marking the first corporate bond issuance since 2006 and diversifying the market beyond government bonds
Status
Active
LCY
SLE
Investment (LCY)
27,000,000
Investment (USD)
1,200,123
Co-Investment (USD million)
SDG Contributions
Lesana Lesotho I
Matured
Lesana Lesotho I
Lesana Lesotho began operations in 2012. It primarily focuses on providing unsecured incremental loans to government employees for various purposes, including housing.
Issue Date
Jun-17
Maturity Date
Jun-23
Sector
Issuer
Lesana Lesotho
Group
Select Africa
Reasons of Investment
ALCB has invested in this transaction to support Lesana's issuance as the first publicly listed bond on the Maseru Securities Market, marking a significant milestone in Lesotho's developing capital market since its establishment in 2016.
Status
Matured
LCY
LSL
Investment (LCY)
30,000,000
Investment (USD)
1,775,148
Co-Investment (USD million)
8.43
SDG Contributions
Lesana Lesotho II
Active
Lesana Lesotho II
Lesana Lesotho began operations in 2012. It primarily focuses on providing unsecured incremental loans to government employees for various purposes, including housing.
Issue Date
Mar-19
Maturity Date
Mar-27
Sector
Issuer
Lesana Lesotho
Group
Select Africa
Reasons of Investment
ALCB has reinvested in this transaction to support Lesana's issuance as the first publicly listed bond on the Maseru Securities Market. The ALCB Fund has reinvested in 2024.
Status
Active
LCY
LSL
Investment (LCY)
50,000,000
Investment (USD)
3,058,123
Co-Investment (USD million)
SDG Contributions
Lesthego Namibia
Matured
Lesthego Namibia
Letshego Namibia, a subsidiary of Letshego Holdings Limited, was founded in 2002 as Edu Loan Namibia. The company initially provided Microlending services and has since evolved to offer a variety of financial products, including personal loans, Microlending, savings accounts, and investment services.
Issue Date
May-21
Maturity Date
May-24
Sector
Issuer
Letshego Namibia
Group
Letshego Holdings
Reasons of Investment
ALCB has invested in this transaction to support a first-time issuer in Namibia's underdeveloped corporate bond market, diversifying beyond traditional issuers and playing an important role in ensuring full subscription of the bond.
Status
Matured
LCY
NAD
Investment (LCY)
71,000,000
Investment (USD)
5,000,000
Co-Investment (USD million)
12.57
SDG Contributions
Letshego Mozambique
Matured
Letshego Mozambique
Letshego Mozambique is subsidiary of Letshego Holdings Limited, a pan-African inclusive finance organization headquartered in Gaborone, Botswana. Letshego has a presence in 11 countries and supports over 6.6 million consumers across Africa.
Issue Date
Aug-23
Maturity Date
Aug-25
Sector
Issuer
Letshego Mozambique
Group
Letshego Holdings
Reasons of Investment
ALCB has invested in this transaction to support a first-time issuer in Mozambique's small capital market, diversifying beyond traditional issuers and playing a crucial role in ensuring the success of this new entrant to the market.
Status
Matured
LCY
MZN
Investment (LCY)
250,000,000
Investment (USD)
3,913,588
Co-Investment (USD million)
20.59
SDG Contributions
M Finance Junior
Matured
M Finance Junior
Madison Finance Company Limited (MFinance) was established in 2004 and is a Deposit Taking Financial Institution regulated by the Bank of Zambia. MFinance offers a variety of financial services including secured and unsecured loans, as well as deposit-taking activities aimed at supporting entrepreneurs and facilitating access to finance for both formal and informal sectors.
Issue Date
Oct-15
Maturity Date
Dec-23
Sector
Issuer
M Finance Zambia
Group
M Finance
Reasons of Investment
ALCB has invested in this transaction to act as a catalyst for other investors to purchase MFinance's bonds, thereby facilitating the company's development of an appropriate liability profile.
Status
Matured
LCY
ZMW
Investment (LCY)
10,000,000
Investment (USD)
376,359
Co-Investment (USD million)
2
SDG Contributions
M Finance Senior
Matured
M Finance Senior
Madison Finance Company Limited (MFinance) was established in 2004 and is a Deposit Taking Financial Institution regulated by the Bank of Zambia. MFinance offers a variety of financial services including secured and unsecured loans, as well as deposit-taking activities aimed at supporting entrepreneurs and facilitating access to finance for both formal and informal sectors.
Issue Date
Oct-15
Maturity Date
Jun-23
Sector
Issuer
M Finance Zambia
Group
M Finance
Reasons of Investment
ALCB has invested in this transaction to act as a catalyst for other investors to purchase MFinance's bonds, thereby facilitating the company's development of an appropriate liability profile.
Status
Matured
LCY
ZMW
Investment (LCY)
26,150,000
Investment (USD)
984,178
Co-Investment (USD million)
2
SDG Contributions
MWFL
Matured
MWFL
Mortgage Warehouse Funding Limited (MWFL) was established as a Special Purpose Company in Nigeria. The company's primary objective is to provide short-term local currency financing solutions. MWFL operates within the Nigerian financial sector, focusing on mortgage-related financial services
Issue Date
Aug-18
Maturity Date
May-19
Sector
Issuer
MWFL
Group
MWFL
Reasons of Investment
ALCB has invested in this transaction to support MWFL and NMRC's mortgage securitization model, enabling mortgage providers to access affordable funding in Nigeria's capital market, while stimulating future long-term bond issuances by NMRC and diversifying the market beyond large corporates and commercial banks
Status
Matured
LCY
NGN
Investment (LCY)
203,482,298
Investment (USD)
558,818
Co-Investment (USD million)
SDG Contributions
Mixta Nigeria
Matured
Mixta Nigeria
Founded in 2005, Mixta Nigeria is a real estate development company established to address the housing deficit on the African continent. Initially part of Mixta Africa, it was rebranded following its acquisition by Asset & Resource Management Company (ARM) in 2015. The company has developed more than 20,000 residential and retail units across eight countries.
Issue Date
Oct-18
Maturity Date
Oct-23
Sector
Issuer
Mixta Nigeria
Group
Mixta Africa
Reasons of Investment
ALCB has invested in this transaction to act as an anchor investor in Mixta Nigeria's first unguaranteed tranche, aiming to maximize investor reach beyond pension funds to asset managers and insurance companies seeking higher yields, following the company's previous challenges in filling the book for its guaranteed tranche due to market instability and unfamiliarity with the credi
Status
Matured
LCY
NGN
Investment (LCY)
1,320,000,000
Investment (USD)
4,000,000
Co-Investment (USD million)
3.03
SDG Contributions
Musoni Kenya
Matured
Musoni Kenya
Musoni Kenya was established in September 2009 as the first completely cashless microfinance institution in the world, allowing customers to receive and repay loans via M-PESA. By 2010, Musoni had disbursed its first loan, and since then it has expanded rapidly across Kenya, with a network of 37 branches by 2017 and over 260,000 loans disbursed by 2021.
Issue Date
Jun-18
Maturity Date
Nov-21
Sector
Issuer
Musoni Kenya
Group
Musoni Kenya
Reasons of Investment
ALCB has invested in this transaction to support bond issuance in Kenya's cautious market, acting as an anchor investor to attract smaller local institutions over the program, following a period of limited issuance due to defaults by banks and micro-lenders in recent years.
Status
Matured
LCY
KES
Investment (LCY)
250,000,000
Investment (USD)
2,474,023
Co-Investment (USD million)
3.12
SDG Contributions
NBC Tanzania Limited
Active
NBC Tanzania Limited
National Bank of Commerce (NBC) Tanzania, established in 1967, is one of the oldest commercial banks in the country. The bank operates as a subsidiary of Absa Group Limited, which holds a 55% stake, while the Government of Tanzania owns 30% and the International Finance Corporation holds 15%. NBC Tanzania offers a range of financial services through its network of 49 branches and numerous ATMs across major cities and towns.
Issue Date
Oct-24
Maturity Date
Oct-29
Sector
Issuer
National Bank of Commerce Tanzania
Group
National Bank of Commerce Tanzania
Reasons of Investment
Status
Active
LCY
TZS
Investment (LCY)
27,200,000,000
Investment (USD)
9,957,680
Co-Investment (USD million)
SDG Contributions
NMB Bank PLC
Active
NMB Bank PLC
National Microfinance Bank PLC (NMB) was established under the National Microfinance Bank Limited Incorporation Act of 1997, following the break-up of the old National Bank of Commerce2. Initially, NMB could only provide payment services and offer savings accounts with limited lending capabilities before becoming a fully-fledged universal retail bank
Issue Date
Nov-23
Maturity Date
Nov-26
Sector
Issuer
National Microfinance Bank PLC
Group
National Microfinance Bank PLC
Reasons of Investment
ALCB has invested in this transaction to support the issuance of the country's first sustainable bond, contributing to the further development of its debt capital market.
Status
Active
LCY
TZS
Investment (LCY)
2,503,000,000
Investment (USD)
1,008,468
Co-Investment (USD million)
85.79
SDG Contributions
NS Power
Active
NS Power
NS Power operates the concession to the 600 MW Shiroro Hydro-electric power plant and is seeking to raise an initial NGN 10 billion under a NGN 50 billion debt issuance program to extend the tenor of and refinance its local and foreign currency acquisition debt.
Issue Date
Feb-19
Maturity Date
Feb-34
Sector
Issuer
NS Power
Group
NS Power
Reasons of Investment
ALCB has invested in this transaction to support the first corporate sector Green Bond issuance in Nigeria by a privatized GenCo, enabling the company to access long-term institutional funding through InfraCredit, thereby addressing the limited capacity of local commercial banks to provide new loans to domestic power sector operators.
Status
Active
LCY
NGN
Investment (LCY)
360,000,000
Investment (USD)
780,285
Co-Investment (USD million)
22.54
SDG Contributions
Nedbank I
Active
Nedbank I
Nedbank was founded in Amsterdam in 1888 as the Nederlandsche Bank en Credietvereeniging. It has undergone several name changes and structural transformations, becoming one of the largest financial services groups in South Africa. Over the years, it has expanded its offerings and transformed into a comprehensive financial institution with a focus on sustainability and community service.
Issue Date
Apr-19
Maturity Date
Apr-26
Sector
Issuer
Nedbank
Group
Nedbank
Reasons of Investment
ALCB has invested in this transaction to support Nedbank's first bond issuance under its SDG Financing Framework, marking South Africa's first private-company green bond verified under Climate Bonds Standards and the first to refinance wind and solar projects in the renewable energy program.
Status
Active
LCY
ZAR
Investment (LCY)
41,000,000
Investment (USD)
2,567,217
Co-Investment (USD million)
268.93
SDG Contributions
Nedbank II
Active
Nedbank II
Nedbank was founded in Amsterdam in 1888 as the Nederlandsche Bank en Credietvereeniging. It has undergone several name changes and structural transformations, becoming one of the largest financial services groups in South Africa. Over the years, it has expanded its offerings and transformed into a comprehensive financial institution with a focus on sustainability and community service.
Issue Date
Jun-21
Maturity Date
Jun-26
Sector
Issuer
Nedbank
Group
Nedbank
Reasons of Investment
ALCB has invested in this transaction to support Africa's first Green AT1 issuance and one of the few globally, leveraging Nedbank's initiative to attach a "green pricing premium" and anchored by developmental international investors to encourage local infrastructure funds' participation, thereby enhancing South Africa's nascent green bond market.
Status
Active
LCY
ZAR
Investment (LCY)
68,000,000
Investment (USD)
5,000,000
Co-Investment (USD million)
SDG Contributions
Opportunity Bank
Matured
Opportunity Bank
Opportunity Bank Mozambique began operations as part of the Opportunity International network, focusing on serving underserved and financially excluded populations in Mozambique, particularly in rural areas. The bank operates branches across the country, offering a range of financial products including savings accounts, micro-enterprise credit, and agricultural loans. In 2016, Opportunity Bank Mozambique partnered with MyBucks S.A., a fintech company, to enhance its technological capabilities and expand its reach, aiming to increase financial inclusion throughout Mozambique.
Issue Date
Jun-18
Maturity Date
Jul-20
Sector
Issuer
Opportunity Bank
Group
MyBucks
Reasons of Investment
ALCB has invested in this transaction to support Opportunity's bond issuance, aiming to reignite the local market following a period of instability, in a context where the bond market remains small, illiquid, and fragmented, with non-sovereign issuances being rare and limited to a few issuers since 2016.
ALCB has invested in this transaction to support Oragroup's first bond issuance in the CEMAC region, a rare corporate bond in the area, with the aim of catalyzing the capital market and providing a roadmap for other regional financial institutions to access market-based funding.