"WAEMGF invests USD 5 million in LeasAfric Ghana Limited
Accra, Ghana, 27 June 2014: The West Africa Emerging Markets
Growth Fund (WAEMGF) has announced a USD 5 million investment in
Leasafric Ghana Limited a specialist non-bank financial institution that
primarily providing finance and operating lease solutions to SMEs and
leading corporates in Ghana. Set up in 1994, the company has established
itself as a solid financial service provider offering innovative asset
financing solutions to Ghanaian businesses.
This investment comes at a crucial time to shore up the company’s
capital base as per minimum capital guidelines set by the Bank of Ghana
and will allow Leasafric to expand its activities into other economic
sectors (such as agriculture and oil and gas). The company has also
recently acquired the Hertz car rental franchise for Ghana as another
business activity.
Commenting on the investment J. Mawuli Ababio, Partner, PCM Capital
Partners (PCP), opined “The financial services sector is crucial to SME
growth and development and our investment gives us an excellent platform
to provide growth capital to local companies. We are pleased to partner
C&I Leasing together with respected local partners in this
investment.’
According to Alex Mbakogu, Managing Director of Leasafric “This
investment in Leasafric is a testament to the confidence PCM Capital
Partners, and a lot others have in Leasafric as one of the most
profitable, fast growing non-bank leasing and ancillary service company
in Ghana, and will enhance Leasafric’s capacity to do more businesses,
growing our SMEs, fleet services, operating leases and Hertz Rent A Car
brand."
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