Insight

SIERRA LEONE'S LANDMARK LOCAL CURRENCY BOND

Sierra Leone achieves milestone with first local currency corporate bond - approved by BSL - valued at 1.4 million dollars, signalling a significant development in the country's capital market.

The successful issuance by LAPO Sierra Leone, opens up opportunities for local corporates to access capital, attract diverse investors, and paves the way for similar bond issuances.

The bond was arranged by United Capital Plc, a leading pan-African investment banking firm, and by Pennarth Greene, a Sierra Leonean-based corporate finance advisory firm, with support from Invest Salone through its PROSPER Salone grant scheme. It raised SLE32 million (approx. US$1.4 million) for LAPO Microfinance Company, which provides financial services to micro, small and medium enterprises in Sierra Leone. Notably, 99% of LAPO’s clients are female, and the bond proceeds will expand LAPO’s loan portfolio and branch network.

Investors look to Sierra Leone’s first corporate bond - CNBC Africa Sierra Leone has recorded its first local currency corporate bond valued at approximately 1.4 million dollars. How much impact will this have on the country’s capital market?

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Sierra Leone is on the brink of a transformative digital explosion with the potential to enhance financial inclusion, access to information and services, job creation and economic growth. But, as digital technology becomes ever more integrated into everyday Sierra Leonean life, a growing digital gender divide means that women are in danger of missing out on many of these opportunities unless we act now.

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