The company in a statement said the Series 19 CP, which is part of the bank’s N100 billion CP Program, will help the organisation meet its short-term liquidity needs and grant them access to alternative and cheaper source of funding.
The acquisition adds to Vista’s existing banking operations in Guinea, in addition to its banks in Burkina Faso, Sierra Leone and The Gambia.
In 2020, in the wake of the pandemic, Stanbic Bank played a key role in economic recovery through forming partnerships to mobilize resources to combat the COVID-19 pandemic.
Provides systemic liquidity and supports vital supply chains across Africa’s markets; Sustains and increases access to goods and services during the pandemic; Bolsters economic opportunities and inclusive growth, in markets such as Togo, Burkina Fas
The business this year ranged from structuring supply chain finance for Safaricom in Kenya, to providing trade finance to cotton farmers in Togo and helping automate annuity payments by Sanlam Life Insurance.
The 203 million euro financing agreements, which benefit from 95 percent insurance cover by the African Trade Insurance agency ("ATI"), will fund four health and two transportation projects in Ghana
The value of M&A transactions with any sub-Saharan African company involvement reached $6.1bn, almost level with the same period in 2020, and a five-year low.
Despite Covid-19, 2020 was a banner year for investment banking, with IPOs and bond issues standing out.
“In 2020, we gave out loans of NGN 58 billion to over 81,000 female entrepreneurs and professionals.”