Uganda: Watu Credit raises $15m funding

Watu Credit in Uganda has raised an initial five year term facility of $15 million from Gateway Partners.

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Alpen Capital has advised Watu Credit in Uganda in raising an initial five year term facility of $15 million from Gateway Partners through its Africa Credit Opportunities Fund. This is the first tranche of Alpen’s ongoing mandate to raise $50 million.

Watu Credit is a African non-banking finance company providing asset finance for two-wheelers and three-wheelers to Africa’s unbanked and underserved population.

The funding will be used towards onward lending to Watu Credit's customers to grow its mobility portfolio and broaden access to financial services to the underserved and unbanked sector in Uganda.

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