Peter Ashade, Group CEO
United Capital Group, a pan-African investment banking and financial services institution, will lead the issuance of Sierra Leone’s first local currency corporate bond valued at SLE32 million ($1.4 million).
The company said it would provide its investment banking business through its issuer, LAPO SL, a microfinance institute serving micro, small, and medium enterprises (MSMEs) in Sierra Leone.
Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Group, said, “We are delighted to have advised LAPO SL on this landmark transaction. It strengthens the corporate bond framework and deepens the Sierra Leonean capital market.
“At United Capital, we are committed to enhancing the capital market ecosystem across Africa through active participation in innovative transactions like this,” he said.
The company noted that the issuance aligned with United Capital Group’s strategic initiative to expand its influence across African capital markets.
Peter Ashade, group CEO, highlighted the broader impact of the transaction: “The successful corporate bond issuance in Sierra Leone underscores our strategic focus on expanding United Capital’s presence across Africa.
By leveraging our expertise and resources, we are unlocking new opportunities and driving economic growth throughout the continent. We aim to empower corporates and sovereign governments with tailored financial solutions that transcend borders and foster prosperity throughout Africa.”
The transaction involved a collaborative effort with key financial institutions, including Invest Salone, a UK-funded private sector development programme, and Pennarth Greene, a Sierra Leonean-based corporate finance advisory firm, the company said.
“The Africa Local Currency Bond Fund (ALCB Fund) acted as the anchor investor, contributing approximately SLE27 million to the bond issuance, signalling robust interest in Sierra Leone’s growing economy,” it added.
