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
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The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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