BVI-incorporated Atlas Mara Limited announced the closing of US$40 million debt facility provided by the Overseas Private Investment Corporation (“OPIC”) to its subsidiary, BancABC Botswana. This is part of the US$200mln multi-country facility approved by OPIC for Atlas Mara banks in Botswana, Mozambique and Zambia in August 2015.
For the BVI company, working with OPIC and other Development Finance Institutions is a priority to facilitate focusing on profit in financial services in sub-Saharan Africa. The debt facility will be used to provide access to finance for SMEs and to accelerate company’s digital finance initiatives. It also answers Atlas Mara’s objective to support financial inclusion and expand access to finance in underserved countries.
Chairman of the Board of Atlas Mara said in his comments: “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 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.”