Wednesday, March 20, 2019 UTC

AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Asset Servicing

Standard Bank acts as lead adviser on M-BIRR’s equity raise

Africa Global Funds
March 23, 2018, 9:35 p.m.

Word count: 482

Standard Bank Group has acted as exclusive financial adviser to M-BIRR, a mobile technology company in Ethiopia and the leading mobile money service in the country.

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Standard Bank Group has acted as exclusive financial adviser to M-BIRR, a mobile technology company in Ethiopia and the leading mobile money service in the country.

The company, which recently completed a successful equity raise of €8m, provides a technology platform to facilitate mobile banking for the largest micro finance institutions in Ethiopia.

The equity raise provides M-BIRR with the necessary financing to roll out its ambitious growth plans across Ethiopia, increasing the population’s ability to receive, send and pay for goods and services with mobile money quickly, easily and securely.

Through the mobile money service, M-BIRR has played a critical role in improving access to aid in Ethiopia.

By providing a platform that allows foreign aid to be transferred digitally, rather than physically moving it via road haulage vehicles, M-BIRR has reduced the security risk and chance of logistical failure of moving cash in transit to remote areas. 

The equity raise attracted interest from large international investors from across Europe.

Standard Bank is focused on supporting its African clients’ growth ambitions, which often involves introducing innovative, fast-growing African companies to the international capital markets, allowing them to seek funding outside of the continent to help realise their potential.

Siji Adesemowo, Vice President, Corporate Finance Europe at Standard Bank, said: “The M-BIRR equity raising offered a compelling opportunity to international investors, while also providing far-reaching social benefits. The work that M-BIRR has already done has helped millions of Ethiopians - from allowing access to aid to progressing the government’s aim for financial inclusion in the country. The equity raising allows M-BIRR to take advantage of Ethiopia’s fast-growing economy and reach their growth ambitions.”

The deal, led by Standard Bank, demonstrates the bank’s constantly evolving and comprehensive suite of corporate financing expertise across Africa and in key financial centres globally.

“Standard Bank continues to support our clients in accessing investment opportunities in Ethiopia”, said Taitu Wondwosen, Head, Ethiopia for Standard Bank Group.

“Our Addis Ababa office is both a consolidation of the bank’s East Africa presence, and an entry point for clients seeking to invest in Ethiopia as demonstrated by this deal.”

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