TriLinc Global Impact Fund Invests $3 Million In Sub Saharan Africa

| How Africa News

TriLinc Global Impact Fund has announced that it recently approved $3 million in a term loan transaction in Sub-Saharan Africa.

TGIF is an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises (“SMEs”) in developing economies where access to affordable capital is significantly limited. Impact Investing is defined as investing with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact in communities across the globe.

TGIF recently approved $3 million in a transaction that meets TGIF’s requirements for underwriting, economic development, and societal advancement, as described below:

On August 27, 2019, TGIF funded $3,000,000 as part of an existing $6,500,000 senior secured term loan facility with a fast moving consumer goods (FMCG) manufacturer and distributor in Zambia. Priced at 12.23%, the transaction is set to mature on August 27, 2023.

The Company’s financing will serve to construct two production lines for soap detergents, an effort to vertically integrate the company in order to reduce margins and increase profitability. With this new facility, the Company has agreed to not only focus on the creation and support of new and existing jobs but also the investment into these workers through the offering of various training initiatives.

“TGIF’s recent investment activity demonstrates our commitment to deepening relationships with existing borrower companies that are generating positive economic, social, and environmental impact,” said Gloria Nelund, CEO of TGIF. “Specifically, this investment is serving the Zambian population by offering competitive and affordable fast moving consumer goods, such as laundry detergent, dish soap, and other households products,” added Ms. Nelund.

Written by How Africa News

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