Verdant Capital, through its Verdant Capital Hybrid Fund, has injected an additional $4.5 million into LOLC Africa Singapore Limited, bringing its total investment in the pan-African microfinance operator to $13.5 million.

This follow-on investment builds upon an initial $9 million commitment made in June 2023. Both funding tranches, structured as holding company loans, are designated to support and expand the lending activities of LOLC Africa’s subsidiaries across ten African nations: Zambia, Rwanda, Egypt, Kenya, Tanzania, Nigeria, Malawi, Zimbabwe, Ghana, and the Democratic Republic of Congo.

LOLC, a Sri Lankan group established in 1980, entered the African market in 2018 and subsequently secured its first external investment from the Verdant Capital Hybrid Fund. 

- business a.m. live