Verdant Capital Hybrid Fund completes a USD 9 million investment in LOLC Africa

Verdant Capital Hybrid Fund completes a USD 9 million investment in LOLC Africa

Verdant Capital ( www.Verdant-Cap.com ) 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 Singapore Limited (Pvt) Ltd (“ LOLC Africa ”), 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 in 2018. Verdant Capital Hybrid Fund is the first external investor in the Africa operation, testament to the firm’s catalytic mission. The investment will help expand LOLC Africa’s footprint of micro, small and medium enterprises (MSMEs) financing in Africa. In addition, LOLC Africa is expected to benefit from initiatives supported by the Fund’s technical assistance facility. LOLC is one of the best performing global microfinance groups, and the investment is in-line with the Fund’s strategy of picking the top performer of each theme or category. Its business model is targeting the “bottom of the pyramid”, including increasing access to MSME financing and customer deposits, thereby driving LOLC’s financial inclusion goal. The Fund’s investment will provide LOLC Africa with more funding to