The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksATMA.L Regulatory News (ATMA)

  • There is currently no data for ATMA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Atlas Mara, OPIC, UBN partner on $200M for Nigeria

30 Sep 2019 15:23

RNS Number : 2023O
ATLAS Mara Limited
30 September 2019
 

September 30, 2019

 

Atlas Mara, OPIC and UBN partner to fund $200 million for inclusive lending in Nigeria

 

Atlas Mara Limited ("Atlas Mara" or the "Company" and including its subsidiaries, the "Group"), the sub-Saharan Africa financial services group, is pleased to announce that Overseas Private Investment Corporation ("OPIC"), the U.S. government's development finance institution, has entered into an agreement to provide $200 million in financing for Union Bank of Nigeria ("UBN") to support inclusive lending across Nigeria.

 

Under the terms of the agreement, UBN will receive a ten-year term loan of up to $200 million from OPIC for investments in digitization, on-lending to Small and Medium Enterprises ("SMEs") and funding for women-led, women-owned and women-supporting businesses, as part of OPIC's 2X Women's initiative which aims to catalyze investment in women across developing nations.

 

Commenting on the signing of the agreement, Michael Wilkerson, Executive Chairman of Atlas Mara said: "This funding marks another milestone in OPIC's ongoing partnership with Atlas Mara in Africa, and the recognition of UBN as a premier Nigerian financial institution poised for accelerated growth. We are grateful for OPIC's strong commitment to lending in key segments that are critical for economic growth, job creation and women's empowerment in Nigeria, our largest and most important market. We are excited about the value this funding brings to UBN, its customers and their communities, and ultimately to its shareholders including Atlas Mara, as UBN continues to grow its well-established banking presence in Nigeria."

 

David Bohigian, Acting President and CEO of OPIC said: "OPIC is pleased to partner with Atlas Mara and UBN to drive inclusive lending that will benefit entrepreneurs and women - especially underbanked and unbanked individuals and businesses - while fostering economic development across Nigeria."

 

Emeka Emuwa, CEO of UBN also added: "We welcome this opportunity to partner with OPIC and are well-positioned in Nigeria to further advance lending to key segments of the population, especially SMEs. The 10-year tenor of the OPIC facility provides flexibility to maximize impact across key sectors of the Nigerian economy as we continue to advance proven initiatives including those focused on women's banking and digitization of the bank's offerings as UBN leads banking into the future in Nigeria."

 

 

Contact Details:

InvestorsKojo Dufu, +1 212 883 4330

 

OPICMedia Relations,

Laura Allen 202-357-3976

 

Union Bank

Ogochukwu Ekezie-Ekaidem, +234 (1) 2716800 ext 2953

 

MediaAnthony Silverman, +44 (0)7818 036 579

 

About Atlas Mara

Atlas Mara Limited (LON: ATMA) is a financial services institution founded by Bob Diamond and listed on the London Stock Exchange. With a presence in seven sub-Saharan countries, Atlas Mara aims to be a positive disruptive force in the markets in which we operate by leveraging technology to provide innovative and differentiated product offerings, deliver excellent customer service and accelerate financial inclusion. For more information, visit www.atlasmara.com.

 

About OPIC

The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, and advocacy and by partnering with private equity fund managers.

OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.

Learn more at www.opic.gov

 

About UBN

Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank is a household name and one of Nigeria's long-standing and most respected financial institutions. The Bank has a network of over 300 Sales and Service Centers across Nigeria.

 

Following recapitalization in 2012 from new investors and the appointment of a new Executive Management team, Union Bank has undergone an award winning transformation to re-establish the Bank as a leading provider of financial services in Nigeria.

 

Union Bank is focused on Retail, Commercial and Corporate Banking. In addition to standard current and savings product portfolio, Union Bank has launched pioneering products into the Nigerian retail market including UnionKorrect, UnionGoal and UnionBetta.

 

For more information, visit www.unionbankng.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
UPDWGUUPBUPBGCU
Date   Source Headline
2nd Aug 20178:12 amRNSNotification of Major Interest in Shares
2nd Aug 20177:59 amRNSNotification of Major Interest in Shares
20th Jul 20177:57 amRNSNotification of Major Interest in Shares
14th Jul 20173:33 pmRNSResults of EGM held on 14 July 2017
13th Jul 201712:27 pmRNSStatement re Timing Update for Equity Offering
30th Jun 20175:25 pmRNSPublication of Circular and General Meeting Notice
21st Jun 20177:31 amRNSAgreement re Equity Raising
21st Jun 20177:22 amRNSStatement re Equity Raising
1st Jun 20177:52 amRNSResults of AGM held on 31 May 2017
8th May 201712:02 pmRNSPrice Monitoring Extension
5th May 20174:40 pmRNSSecond Price Monitoring Extn
5th May 20174:35 pmRNSPrice Monitoring Extension
3rd May 20175:12 pmRNSVoting Rights & Director/PDMR Shareholding Update
3rd May 20175:00 pmRNSNotice of AGM
3rd May 20174:41 pmRNSSecond Price Monitoring Extn
3rd May 20174:35 pmRNSPrice Monitoring Extension
27th Apr 20177:09 amRNSQ1 Interim Management Statement for 2017
20th Apr 20175:28 pmRNSNotice of 1st Quarter IMS for 2017
4th Apr 20174:40 pmRNSSecond Price Monitoring Extn
4th Apr 20174:35 pmRNSPrice Monitoring Extension
31st Mar 20178:00 amRNSAtlas Mara Limited Announces 2016 Year-End Results
30th Mar 20176:18 pmRNSNotice of Results
29th Mar 20177:28 amRNSNotification of Major Interest in Shares
28th Mar 20176:26 pmRNSNotice of Results
23rd Mar 20175:23 pmRNSNotification of Major Interest in Shares
23rd Mar 20175:20 pmRNSNotification of Major Interest in Shares
23rd Mar 20175:11 pmRNSNotification of Major Interest in Shares
22nd Mar 20177:00 amRNSNotice of Annual Results and AGM
10th Mar 20176:13 pmRNSNotification of Major Interests in Shares
7th Mar 20177:54 amRNSAtlas Mara finalizes $40M debt facility with OPIC
23rd Feb 20177:23 amRNSTotal Voting Rights Update
23rd Feb 20177:09 amRNSStatement re conversion price adjustment of bonds
16th Feb 20178:02 amRNSStrategic Update & Leadership Changes
16th Feb 20177:56 amRNSPlacing of ordinary shares
14th Feb 20178:02 amRNSVoting Rights & Director/PDMR Shareholding Update
1st Feb 20177:34 amRNSAtlas Mara and Mastercard enter Partnership
26th Jan 20177:27 amRNSAtlas Mara and Visa partner on Digital Initiatives
24th Jan 20174:38 pmRNSNotification of Major Interests in Shares
18th Jan 201711:08 amRNSTotal Voting Rights Update
25th Oct 20167:35 amRNSAtlas Mara Limited Unaudited 3rd Quarter Results
11th Oct 20167:00 amRNSDirectorate Change and Notice of Q3 Results
28th Sep 20165:29 pmRNSStatement re Investor Conference
20th Sep 20164:35 pmRNSPrice Monitoring Extension
24th Aug 201610:46 amRNSAtlas Mara Limited Interim Results Conference call
24th Aug 20167:57 amRNSAtlas Mara Limited Interim Results
18th Aug 20164:40 pmRNSSecond Price Monitoring Extn
18th Aug 20164:35 pmRNSPrice Monitoring Extension
4th Aug 20167:07 amRNSNotice of Interim Results
30th Jun 20167:00 amRNSChanges to Executive Committee
10th Jun 20167:00 amRNSResults of AGM held on 9th June 2016

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.