• Latest
  • Trending

Accelerex Establishes N20bn Bond Programme

September 13, 2022
Spyware Attacks On Organisations In Nigeria, South Africa, Kenya increased In Q1 2023

Spyware Attacks On Organisations In Nigeria, South Africa, Kenya increased In Q1 2023

May 26, 2023
KamaPay to Showcase Cross-Border Payment Solutions at GITEX Africa 2023

KamaPay to Showcase Cross-Border Payment Solutions at GITEX Africa 2023

May 26, 2023
NITRA Elects New EXCO, As NUJ Chairman Charges Them On Collaboration

NITRA Elects New EXCO, As NUJ Chairman Charges Them On Collaboration

May 26, 2023
Pantami Leads ICT Stakeholders to ABoICT Lecture 2023

Pantami Leads ICT Stakeholders to ABoICT Lecture 2023

May 26, 2023
NCS President, Sodiya To Chair 2023 Nigeria DigitalSENSE Africa Forum

NCS President, Sodiya To Chair 2023 Nigeria DigitalSENSE Africa Forum

May 26, 2023
Airtel Employees Donate Routers For Access to Digital Education

Airtel Employees Donate Routers For Access to Digital Education

May 26, 2023
FVC Partners With Global Hybrid Services Giants For GITEX Africa 2023

FVC Partners With Global Hybrid Services Giants For GITEX Africa 2023

May 20, 2023
Airtel Launches New Campaign To Inspire Youth Creativity

Airtel Launches New Campaign To Inspire Youth Creativity

May 20, 2023
Ranganath, Director Africa Data Centres to Keynote ABoICT Lecture 2023

Ranganath, Director Africa Data Centres to Keynote ABoICT Lecture 2023

May 20, 2023
T4 Education, HP, Microsoft Name Nigeria’s Simi Nwogugu For Africa Education Medal 2023 

T4 Education, HP, Microsoft Name Nigeria’s Simi Nwogugu For Africa Education Medal 2023 

May 20, 2023
‘Made By Africa, Loved By The World’ Campaign: Meta Celebrates Africa’s ‘Rising Stars’

‘Made By Africa, Loved By The World’ Campaign: Meta Celebrates Africa’s ‘Rising Stars’

May 20, 2023
ALTON Set To Disconnect Debtor Banks’ USSD Service, As NCC Gives Approval

ALTON Set To Disconnect Debtor Banks’ USSD Service, As NCC Gives Approval

May 14, 2023
EBusiness Life
Friday, June 2, 2023
Newsletter
Contact Us
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition
No Result
View All Result
E-Business Life
No Result
View All Result

Accelerex Establishes N20bn Bond Programme

by Admin
September 13, 2022
in Fintech, NewsBytes
Reading Time: 3 mins read
A A
0

… Successfully Issues First Tranche of N2.3bn

Accelerex Holdings, Mauritius on Monday announced that its Nigerian subsidiary, Global Accelerex Limited, has registered a N20bn bond program, and successfully issued a 5-year senior unsecured bond of N2.3bn via a special purpose vehicle (Accelerex Funding SPV PLC). FBN Quest Limited, Renaissance Securities Limited, Greenwich Merchant Bank Limited and Nova Bank Limited acted as Arrangers. The Bond is rated BBB+ (Stable Outlook) by Global Credit Ratings (GCR) and Bbb+ (Stable Outlook) by Agusto & Co. and is listed on the FMDQ Exchange.

YOU MAY ALSO LIKE

Spyware Attacks On Organisations In Nigeria, South Africa, Kenya increased In Q1 2023

KamaPay to Showcase Cross-Border Payment Solutions at GITEX Africa 2023

The issuance attracted participation from a broad array of institutional investors, including local pension funds, insurance companies and asset managers. The relative strong demand despite the very difficult economic and operating environment confirms the market’s confidence in the Company’s creditworthiness, long term resilience, and significant growth potential.

The bond issuance, coming after Accelerex’s successful private equity round in 2020, provides its Nigerian subsidiary with critical long term and local currency capital to fund expansion and support its mission of accelerating the financial inclusion of businesses and individuals across Africa. Accelerex is only the 2nd ever Nigerian fintech or payments company to successfully place a long-term, investment grade, unsecured bond in the Nigerian capital market. Proceeds from the issuance will be used to finance expansion of distribution channels and general working capital.

Managing Director of Global Accelerex Limited, Mr. Olukayode Ariyo stated that, “We are very happy with the result of this bond issuance as it confirms the market’s interest in advancing digital payments and financial inclusion across Nigeria. It is an attestation of the confidence reposed in us, despite the difficult market environment. We thank our bondholders for their belief in our Company. We will press forward with our mission of simplifying everyday life for Africans through accessible, convenient and affordable digital payments and financial services.”

Director at Accelerex Holdings, and Chief Investment Officer at Africa Capital Alliance (ACA), Mr. Paul Kokoricha, said: “The medium-term bond issuance significantly strengthens the balance sheet and liquidity of Accelerex’s Nigerian operations and provides it with much needed local currency funding and duration to support its expansion plans. As equity investors in Accelerex, we are very excited that Nigerian debt investors were supportive of the deal, thereby providing useful financial leverage and local currency diversification to the Company’s balance sheet. With its strengthened balance sheet, Accelerex and its management team can confidently continue their quest to expand access to Nigeria’s financially under-served population”.

Accelerex is renowned for its excellent customer service and commitment to payment solutions that evolve with the needs of the customer. Since it began operations in 2013, Accelerex has grown into a formidable player in the fintech industry and has established itself as the preferred physical payments partner to all merchant acquiring banks in Nigeria. The Company has over 150,000 merchant and agent endpoints across Africa and has consistently ranked as a top 3 provider of payment channel services (by value of transactions processed) in Nigeria since 2018. It currently operates in Nigeria, Ghana and East Africa, with plans to expand to other parts of the continent in the future. In May 2022, Accelerex was recognized by Financial Times as one of the fastest growing companies in Africa.

Share this:

  • Tweet
  • WhatsApp
  • Telegram
ShareTweetSendShareShareBookmark

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Spyware Attacks On Organisations In Nigeria, South Africa, Kenya increased In Q1 2023

Spyware Attacks On Organisations In Nigeria, South Africa, Kenya increased In Q1 2023

May 26, 2023
KamaPay to Showcase Cross-Border Payment Solutions at GITEX Africa 2023

KamaPay to Showcase Cross-Border Payment Solutions at GITEX Africa 2023

May 26, 2023
NITRA Elects New EXCO, As NUJ Chairman Charges Them On Collaboration

NITRA Elects New EXCO, As NUJ Chairman Charges Them On Collaboration

May 26, 2023

Ebusiness Life

Ebusiness Life is news Tech company. We give you latest updates on Tech News and other tech related news.

Join our mailing list and get latest updates.

Check your inbox or spam folder to confirm your subscription.

Popular Posts

Spyware Attacks On Organisations In Nigeria, South Africa, Kenya increased In Q1 2023

Spyware Attacks On Organisations In Nigeria, South Africa, Kenya increased In Q1 2023

by Admin
May 26, 2023
0

KamaPay to Showcase Cross-Border Payment Solutions at GITEX Africa 2023

KamaPay to Showcase Cross-Border Payment Solutions at GITEX Africa 2023

by Admin
May 26, 2023
0

NITRA Elects New EXCO, As NUJ Chairman Charges Them On Collaboration

NITRA Elects New EXCO, As NUJ Chairman Charges Them On Collaboration

by Admin
May 26, 2023
0

Categories

  • Big Issues
  • Columns
    • eScope
  • Cyberparenting
  • eBusiness
  • Gadget Review
    • Laptops
    • Phones
  • Interviews
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
  • Opinion
  • Tech Talk
    • World of Sc & Tech
  • Uncategorized

Quick Links

  • Contact Us
  • Newsletter
  • Privacy & Policy
  • Contact Us
  • Newsletter
  • Privacy & Policy

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.

No Result
View All Result
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.