Verdant Capital completes $9m investment in LOLC Africa
Verdant Capital announced that its Verdant Capital Hybrid Fund has completed a $9 million investment, structured as a holding company loan, in microfinance firm LOLC Africa, which will be invested in its 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. The investment will help expand LOLC Africa’s footprint of MSME financing in Africa.
Suits & Advisors (S&A) acted as an advisor to LOLC on this transaction.