United Capital supports first $1.4m corporate bond in S’Leone

United Capital Group has led the issuance of Sierra Leone’s first local currency corporate bond valued at SLE32m (approximately US$1.4m).

In a statement made available to our correspondent on Tuesday, acting as the Financial Adviser, United Capital’s investment banking arm provided expert structuring, financial advisory, and fundraising services to the bond issuer, LAPO SL.

LAPO SL is a microfinance institution dedicated to supporting micro, small, and medium enterprises in Sierra Leone, with a particular focus on offering affordable loans to women from low-income households.

The Managing Director of Investment Banking at United Capital Group, Gbadebo Adenrele, expressed enthusiasm about the successful transaction.

“We are pleased to have advised LAPO SL on this landmark transaction. It not only strengthens the corporate bond framework but also 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 stated.

The Group CEO of United Capital, Peter Ashade, added that the bond issuance was a step in the company’s broader strategy to expand its influence across the African capital markets.

He emphasised the pan-African impact of the transaction, saying, “This successful corporate bond issuance in Sierra Leone is a testament to 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 across the continent.

“Our goal is to empower corporates and sovereign governments with tailored financial solutions that transcend borders and foster prosperity throughout Africa.”

Ashade stated that the Africa Local Currency Bond Fund served as the anchor investor, injecting approximately SLE27m into the transaction.

He added that it indicated strong interest in Sierra Leone’s burgeoning economy, noting that the group’s track record included leading major listings, such as the Transcorp Power IPO on the Nigerian Exchange, which boasted a market capitalisation of N1.8tn, and reaffirming its position as a key player in Africa’s financial landscape.