Emerging Africa Capital Repays N1.1bn Commercial Paper

Emerging Africa Capital Limited has successfully redeemed the total sum of N1.13 billion Series 1 Commercial Paper (CP) issued on November 1, 2022, on the Nigerian debt capital market(DCP) through FMDQ Securities Exchange Limited platform under its N15 billion CP Issuance Programme.

The 182 days CP was issued at a discount rate of 16.94 per cent and achieved a 100 per cent subscription rate as a first-time issuer.

According to the company, this impressive subscription level demonstrates investors’ confidence in the company’s impressive profile and the ability of its management team to deliver value to its stakeholders.

Speaking on the successful redemption of the CP, the Executive Vice Chairman/Group Chief Executive Officer of Emerging Africa Capital, Toyin F. Sanni, said: “The successful redemption of the N1.13 billion Series 1 CP reflects our company’s commitment to ensuring transparency and trustworthiness in maintaining investor confidence in the Nigerian DCP.”

She expressed her gratitude to all investors for their trust and confidence in the company and promised to continue to deliver substantial value to its stakeholders.

The Emerging Africa Group is a leading Investment Banking and Financial Services provider licensed by the Securities and Exchange Commission to provide issuing house/underwriting, trust, and asset management services with investments in financial technology, microfinance banking, venture capital and capacity building. The group prides itself in creating value for stakeholders through a combination of direct equity investments in our subsidiary companies and by arranging/facilitating debt and equity capital financing for our clients.