Browsing: TLG Capital

TLG Capital. It has announced an investment it has made into a Paris based fintech company, FairMoney in Nigeria. www.theexchange.africa

TLG invests in neo-banking platform in Nigeria

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  • TLG’s investment supports their digital banking aspirations and helps position FairMoney to grow their share of wallet
  • FairMoney operates a credit-led strategy: offering credit via an app and subsequently offering bank accounts
  • The average loan size is 30 Euros and customers can grow their loan limits up to 1,000 Euros over time

TLG Capital has announced an investment it has made into a Paris based fintech company, FairMoney in Nigeria.

FairMoney, which operates a neo-banking platform in Nigeria provides underbanked users with bill payment solutions and collateral-free lending. The company has a microfinance bank license from the Central Bank of Nigeria, which permits it to officially operate as a financial services provider in the country.

The company’s Co-Founder and CEO, Laurin Nabuko Hainy, says TLG’s investment supports their digital banking aspirations and helps position FairMoney to grow their share of wallet while offering services to the financially excluded and …

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TLG Capital acquires 49% of Opportunity Bank Uganda

Africa

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TLG Capital (TLG) today announced it has purchased 49% of Opportunity Bank Uganda Ltd (OBUL), a tier 1 financial institution (commercial bank) with 23 branches and 22 ATM points across Uganda.

OBUL is licensed  and regulated by the Central Bank of Uganda and offers tailor made products and services for individuals, micro-businesses, and small-and-medium sized enterprises (SMEs). The bank was originally a micro-finance institution founded in 1995. The transaction makes TLG the largest shareholder of OBUL. Remaining shareholders (all NGOs) include Opportunity International Group (43%), Faulu Uganda (7%), and Food for the Hungry (1%).

TLG’s investment was made via its Credit Opportunities Fund (COF) and marks a continued focus on building and supporting SMEs in three core sectors: Healthcare, Financial Institutions, and Consumer Goods. TLG has been an investor in Uganda for over a decade and other Ugandan investments include Cipla Quality Chemicals Ltd (pharmaceutical manufacturing), Vero Foods (water-bottling plant) …