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Private Equity firm, TLG Capital has announced that it would be investing together with Fidelity Bank Plc, an amount to the tune of $20 million on SMEs in Nigeria.
The funds will be channelled through TLG’s Africa Growth Impact Fund (ADIF), towards the development of SMEs in the country. Notably, the fund will be directed to SMEs that are focused on healthcare, education, consumer sectors, amongst others.
This new investment is in line with the bank’s move to provide innovative funding options and other forms of relevant support to entrepreneurs in the country.
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What you need to know
- Fidelity Bank Plc is a commercial bank in Nigeria with over 5 million customers, serviced across its 250 business offices and other digital banking channels.
- According to information from the website of TLG Capital, a total of $303 million loans was still outstanding to SMEs and the unbanked through its portfolio companies.
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Why this matters
This new investment will come as good news to SMEs and other entrepreneurs in the country, especially those seeking to obtain loans in the listed sectors.
How do I apply for the loan and requirement to get qualified for it. I sell sea food which falls under consumables
How can I access the loan? I ran a pharmaceutical business which fall under healthcare sector. Pls I urgently need this loan in other to stay alive with the business due to impact covid_16. Thanks
How can I access the loan? I ran a pharmaceutical business which fall under healthcare sector. Pls I urgently need this loan in other to stay alive with the business due to negative impact of covid-19. Thanks