USD10m Sustainability-linked and Receivables-backed Facility
03 May 2024
Country
Ghana
Year
2024
Sector
Telecoms Media and Technology
Business Unit
Corporate Financing Solutions
|
Investment Banking
Specific Role
Arranger, Lender and Account Bank
Stanbic Bank Ghana LTD as Arranger, Lender and Account Bank for a Sustainability Linked GHS124m Borrowing Base Facility to M-KOPA Ghana Limited.
M-KOPA was founded in 2010 and is the global leader of technology-enabled connected asset finance. Driven by technology, the company creates a better life for its clients across Sub-Saharan Africa, who are unable to acquire lifestyle assets or access traditional credit markets. M-KOPA solves this by selling valuable products and services (smartphones, off-grid solar home systems, cash loans & accessories including fridges and TVs ) that are financed through daily micro payments on a “pay-as-you-go” basis.
The Sustainability-Linked Borrowing Base Facilities are intended to support M-Kopa to further unlock Funding to a customer base Commercial Banks are unable to access, whilst creating a meaningful impact in the lives of low-income communities by providing clean energy sources and lifestyle products to families and small businesses, through innovative and affordable financing products.
The Transaction aligns with the Group’s sustainable finance / ESG targets by contributing to Financial Inclusion and access to life-enhancing assets to low-income populations in African countries.