ABC in $25million deal with Citigroup

The deal, which was signed in Gaborone on Wednesday, is the first investment by CVCI in the financial sector in sub-Saharan Africa. CVCI is a international private equity investor and investment adviser in developing markets with more than forty investment professionals and offices in London, New York, Hong Kong, New Delhi, Mumbai and Tokyo. 

Under the deal, ABCH will issue a convertible loan with a two-year maturity to CVCI Africa Investments Limited, a wholly owned subsidiary of Citigroup Venture Capital International Africa Fund, a private equity fund focused on investments in Africa and advised by CVCI. Speaking at the signing ceremony, ABCH Chairman Oliver Chidawo said he was convinced the decision by CVCI to invest in Botswana is a solid one, given that the country enjoys political and economic stability.