June 27th, 2019
Platcorp Holdings, a microfinance and non-bank lending institution, has received a USD 10mn investment from TLG Capital, which invested through its Credit Opportunities Fund (COF). The COF investment gives Platcorp the option of leveraging hard and local currently capital; and is the investment firm’s first local currency financing for private investments – hedging its risk with MFX currency hedge solutions.
Early last year, Centum sold a 25% stake in Platcorp to both the company’s management and Suzerain Investment Holdings (an existing shareholder) in a deal reported to be worth USD 10mn.
The investment in Platcorp, which has subsidiaries in Kenya, Tanzania and Uganda, adds to TLG’s East Africa portfolio that currently comprises Kenya, Uganda and Rwanda.