ATLAS Mara Limited Atlas Mara finalizes $40M debt facility with OPIC (7110Y)
March 07 2017 - 1:54AM
UK Regulatory
TIDMATMA
RNS Number : 7110Y
ATLAS Mara Limited
07 March 2017
7 March 2017
Atlas Mara finalizes US$40 million Fintech and Financial
Inclusion Debt Facility with OPIC
Atlas Mara Limited ("the Company") is pleased to announce
closing of a US$40 million debt facility provided by the Overseas
Private Investment Corporation ("OPIC") to its subsidiary, BancABC
Botswana. The funding is part of the US$200 million multi-country
facility that OPIC approved for Atlas Mara's banks in Botswana,
Zambia, and Mozambique in August 2015.
Atlas Mara has a focus on profit with purpose in financial
services in sub-Saharan Africa and it has prioritized working with
OPIC and other Development Finance Institutions (DFIs) in the US,
Europe, and Africa to facilitate these objectives. The debt
facility will be used to provide access to finance for SMEs and to
support the Company's efforts to accelerate it digital finance
initiatives, which are key areas of the Company's strategy. It is
consistent with Atlas Mara's objective of supporting financial
inclusion and will allow the company to expand access to finance in
underserved markets.
Bob Diamond, Chairman of the Board of Atlas Mara said, "The OPIC
facility underscores our commitment to working with DFIs on
financial development and access to finance for SMEs and
individuals in Africa and reflects our multifaceted strategic
engagement with DFIs. As we indicated with our third quarter
results, we are increasingly focused on organic growth, scaling up
our banking operations, and delivering accelerated growth in key
areas of our operations. As a top tier bank in Botswana, we are
excited to have the support and funding of OPIC to drive financial
inclusion and support our growth ambitions."
For further information, please contact:
Investors
John-Paul Crutchley, +971 4 275 6000
Kojo Dufu, +1 212 883 4330
Media
Anthony Silverman
Teneo Blue Rubicon, +44 (20) 7260 2700
About Atlas Mara
Atlas Mara Limited (LON: ATMA) is a financial services
institution listed on the London Stock Exchange. Its vision is to
create sub-Saharan Africa's premier financial services institution
through organic and inorganic growth by combining the best of
global institutional knowledge with extensive local insights. 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, excellent customer service and accelerate
financial inclusion in the countries in which the Company operates.
For more information, visit www.atlasmara.com.
About OPIC
OPIC is the U.S. Government's development finance institution.
It mobilizes private capital to help address critical development
challenges and in doing so, advances U.S. foreign policy and
national security priorities. Because OPIC works with the U.S.
private sector, it helps U.S. businesses gain footholds in emerging
markets, catalysing revenues, jobs and growth opportunities both at
home and abroad. OPIC achieves its mission by providing investors
with financing, political risk insurance, and support for private
equity investment funds, when commercial funding cannot be obtained
elsewhere. Established as an agency of the U.S. Government in 1971,
OPIC operates on a self-sustaining basis at no net cost to American
taxpayers.
All OPIC projects adhere to high environmental and social
standards and respect human rights, including worker's rights. By
mandating high standards, OPIC aims to raise the industry and
regional standards of the countries where it funds projects. OPIC
services are available for new and expanding business enterprises
in more than 160 countries worldwide.
END
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