Alpen Capital has advised Watu Credit Uganda Ltd. (“Watu”) in raising an initial 5 year term facility of US$ 15Mn on from Gateway Partners (“Gateway”) through their Africa Credit Opportunities Fund (“ACOF”). This is the first tranche of our ongoing mandate to raise US$ 50Mn.
The funding will be used towards onward lending to Watu’s customers to grow its mobility portfolio and broaden access to financial services to the underserved and unbanked sector in Uganda.
About Watu Credit Uganda: Headquartered in Mombasa, Watu is a fast-growing African non-banking finance company providing Asset Finance for two-wheelers and three-wheelers to Africa’s unbanked and underserved population.
About Gateway Partners: Gateway is an emerging markets manager investing responsibly in Africa, Middle East, South and Southeast Asia with circa US$1.2 billion of assets under management.