Dr. Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Group,
United Capital Group, a leading pan-African investment banking and financial services institution, has achieved a historic milestone by spearheading Sierra Leone’s first local currency corporate bond issuance, valued at SLE32 million (approximately US$1.4 million). This groundbreaking transaction represents a transformative moment for Sierra Leone’s capital market.
In its role as Financial Adviser, United Capital provided expert structuring, financial advisory, and fundraising services to LAPO SL, the issuer. LAPO SL is a microfinance institution focused on providing affordable loans to micro, small, and medium enterprises (MSMEs) in Sierra Leone, with a notable emphasis on supporting women from low-income households.
Dr. Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Group, remarked on the significance of the transaction: “We are delighted to have guided LAPO SL through this landmark deal. It not only enhances the corporate bond framework but also deepens the capital market in Sierra Leone. At United Capital, we are dedicated to advancing Africa’s capital market ecosystem through innovative and impactful transactions.”
Group CEO Peter Ashade highlighted the broader implications of the transaction: “This successful corporate bond issuance in Sierra Leone underscores our strategic aim to expand United Capital’s footprint across Africa. By leveraging our expertise, we are unlocking new opportunities and driving economic growth on the continent. Our mission is to provide corporates and sovereign governments with tailored financial solutions that cross borders and promote prosperity throughout Africa.”
The issuance involved collaboration with key financial institutions, including Invest Salone (a UK-funded private sector development programme) and Pennarth Greene (a Sierra Leonean-based corporate finance advisory firm). The Africa Local Currency Bond Fund (ALCB Fund) served as the anchor investor, contributing approximately SLE27 million to the transaction, reflecting strong interest in Sierra Leone’s growing economy.
United Capital Group’s leading role in this transaction underscores its capability to manage significant cross-border capital market activities. The Group’s notable achievements include leading major listings such as the Transcorp Power IPO on the Nigerian Exchange (NGX), which had a market capitalization of N1.8 trillion, solidifying its position as a key player in Africa’s financial sector.