BancABC clinches P3bn financing deal

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BancABC parent company, Atlas Mara has partnered up with the US government’s development finance institution, the Overseas Private Investment Corp, for a $300 million(P3 billion) project to finance acquisitions and on-lending across Africa.

Under the terms of the agreement, OPIC will provide $200 million in long-term debt and Atlas Mara will provide $100 million of committed resources, to expand the operations of Atlas Mara’s Southern African banking platform BancABC.

BancABC will scale up its SME loan portfolio, increase on-lending for financial inclusion products, and invest in information technology upgrades to quicken implementation of its new financial technology and mobile banking initiatives, Atlas Mara said.

Editor's Comment
Urgent call: Stop the killing!

The previous week, we had an article about a police officer shooting his wife, and turning the gun on himself, whilst he died, his wife survived and is still in the hospital.Sadly that was not the only article we carried on intimate partner killings. There was the Francistown case, where a young woman allegedly stabbed her ‘former boyfriend’ and many others which were reported throughout the week.As all the reports were coming in, a Botswana...

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