Raisin Capital has concluded a shares purchase agreement that will give HOPE International a 51% controlling stake in SMEP Microfinance Bank, as approved by the Central Bank of Kenya (CBK).
In a statement, the firm said this achievement underscores Raisin’s commitment to supporting African economic growth by helping African businesses access capital.
“As a key player in financial services through capital raising, Raisin Capital’s dedicated team of investment professionals specializes in determining the eligibility of businesses for capital raising, preparing the businesses for capital raising, match-making them to the right investors and managing the transactions until conclusion. The recently concluded equity deal exemplifies Raisin’s unparalleled expertise in navigating complex financial transactions and a commitment to the entrepreneur and promoter to walk through the usually challenging journey of capital raising,” the statement read in part.
Raisin said its main focus is being a capital-raising partner to its clients.
“With HOPE International’s experience in the microfinance sector, we are strengthening SMEP’s current position as a competitive and growing institution. Furthermore, because of HOPE’s Christ-centered values, this Investment allows us to deliver well on our core mission to help Kenyan families address material and spiritual poverty,” Symon Kamore- the CEO of SMEP Microfinance Bank, said.
HOPE investment, being a global investor in microfinance, anchors Kenya as a prime destination for capital-seeking impact and growth.
Mr. Francis Nasyomba, CFA, the lead Transaction Advisor who spearheaded the deal, and the Principal at Raisin Capital, said the successful conclusion of the equity-based transaction marks a significant milestone not only for SMEP Microfinance Bank and HOPE International but also for Raisin Capital.
“Our team’s relentless dedication, focus and aligned support to the client has paved the way for sustainable growth, impact and development for SMEP customers and stakeholders, demonstrating the immense potential of Kenya’s economic landscape and encapsulating Raisin’s core value of focusing on the client. This transaction also marks a great shift in investor focus from solely financial performance to purpose-driven investments,” Nasyomba said.
“With a steadfast commitment to supporting economic progress, Raisin Capital has solidified its role as a catalyst for transformative change within the East African financial sector by ensuring businesses access capital. This transaction stands as a testament to Raisin’s unwavering dedication to fostering partnerships that unlock opportunities and drive prosperity.”
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