Press Release – 05 November 2014
Inaugural Note Programme to be listed on the Ghana Alternative Market (“GAX”)
The Board and Shareholders of Izwe Loans Limited (“Izwe Ghana”) take pleasure in announcing the listing of its GHS 80 million Medium Term Note Programme on the Ghana Alternative Market (“GAX”). We are proud to partner with the Ghana Stock Exchange (“GSE”) to launch the GAX and represent the ﬁrst Corporate Bond to be listed and trade on the GAX.
Izwe Ghana is part of the Izwe Group of Companies, a Pan-‐African ﬁnancial services Group with operations in Ghana, Zambia, Kenya and South Africa. Izwe Ghana oﬀers loans to government workers and is licensed as a Finance House and regulated by the Bank of Ghana. Since opening its doors in July 2011, Izwe Ghana has been commited to building a business, which we are all truly proud to be associated with. With its head oﬃce based in Accra, Izwe Ghana has 5 branches in 5 diﬀerent regions, strategically located throughout Ghana and continues to seek out opportunities to further extend its footprint and brand. Over the past three years we have built a signiﬁcant presence in the market and have, at the same time, been fortunate to give back to Ghana through our Public Sector Tertiary Scholarship Program, which we launched two years ago.
The listing process has given Izwe Ghana the gravitas and exposure that we believe is important to building on the success of our business. The Note Programme not only enables Izwe Ghana to access the capital markets for growth, it provides investors with additional opportunities to what is currently oﬀered in the ﬁxed income market and investors can beneﬁt from the enhanced liquidity of corporate bonds as they are tradable on the Ghana Stock Exchange.
A total of GHS 38.6 million Notes made up of 4 initial tranches are to be listed on the GAX on 7th November 2014. These Notes are all senior secured and oﬀer a premium over Government of Ghana Treasury bill rates. The tenor of the Notes range from 1 to 3 years. Proceeds of the Notes will be used by Izwe Ghana to fund their loan book and for liquidity management. The Notes have been successfully placed with 13 diﬀerent fund managers within Ghana.
Temple Investments Limited and Databank Brokerage Limited were mandated by Izwe Ghana as Lead Arrangers for this landmark transaction. For further Information on the Programme or