TORTOLA, BRITISH VIRGIN ISLANDS--(Marketwired - Mar 7, 2017) - Atlas Mara Limited (LSE: ATMA)
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:
John-Paul Crutchley, +971 4 275 6000
Kojo Dufu, +1 212 883 4330
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.
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.