Afrinvest (West Africa) Limited (“Afrinvest” or “the Group”) is delighted to announce the successful redemption of its N4.23 billion debut Series 1 Commercial Paper (CP), which was issued on January 25, 2024, on the FMDQ Securities Exchange Limited (“FMDQ Exchange”) platform under its N25 billion Commercial Paper Issuance Programme. 

The series 1 and 2 Commercial Paper issuance by Afrinvest recorded a 144% oversubscription rate. This impressive subscription level demonstrates investors’ confidence in the Group’s impressive profile and the ability of its management team to deliver value to its stakeholders. The redeemed series 1 was issued for 180 days at a discount rate of 15.2616%. 

Commenting on the successful redemption, the Group Managing Director of Afrinvest (West Africa) Limited, Dr. Ike Chioke, expressed his satisfaction and gratitude to all investors and other stakeholders in the capital market for their confidence and support for the Afrinvest brand. He congratulated the professional parties involved in the process and assured the public of the Group’s commitment to fulfilling its obligations. 

Afrinvest Capital Limited acted as Sole Financial Adviser and Lead Issuing House for the Afrinvest (West Africa) Limited’s Commercial Paper Issuance. The Managing Director of Afrinvest Capital, Suru Daniels, stated that Afrinvest promptly fulfilled its obligation on the Series 1 CP and informed FMDQ Exchange of the payment in line with best practice. He emphasized the Group’s creditworthiness and commitment to maintaining investors’ confidence in the Nigerian Capital Market. 

About Afrinvest (West Africa) Limited 

Afrinvest (West Africa) Limited is a capital market holding company licensed by the Securities and Exchange Commission (SEC) to provide services in six principal areas: investment banking, securities trading, asset management, trust services, investment research & consulting, and financial technology. Afrinvest was originally founded in 1995 as Securities Transaction and Trust Company Limited (“SecTrust”).  

AWA owns six operating subsidiaries: Afrinvest Asset Management Limited (AAML), a portfolio manager; Afrinvest Capital Limited (ACL), an issuing house and investment banking unit; Afrinvest Consulting Limited (ACOL); Afrinvest Securities Limited (ASL), a broker-dealer and member of the Nigerian Exchange Limited (NGX); Afrinvest Trustees Limited (ATL); and Andromeda Technology Solutions Limited (Andromeda). The group is dedicated to building a wealth advisory firm known for providing world-class financial solutions across select Sub-Saharan African markets.