Investment bank floats N5 billion commercial paper

Afrinvest Capital Limited has announced the opening of DLM Capital Group Limited up to ₦5 billion series three and four commercial paper (CP) notes under its ₦20 billion-issuance programme.

According to the Group Managing Director of Afrinvest, Ike Chioke, the offer is scheduled to close on Wednesday, February 9, 2022.

Chioke said the firm is a Development Investment Bank (DIB), and a diversified financial services institution that has been at the forefront of creating alternative funding solutions for businesses, providing bespoke and innovative financing for a variety of economic sectors across the country.

According to him, the group places a strong emphasis on driving sustainable development of the Nigerian economy by focusing its expertise on key sectors such as agriculture, general business finance, consumer credit, housing, transportation, infrastructure and education in line with its chosen development mandate to help reduce poverty and improve the living conditions of Africans as a whole.

Chioke said the overall goal of the group is to help mobilise international and domestic capital to support the continent’s economic and social development.

Furthermore, he pointed out that the investment bank offers general financial and investment banking-related services via its subsidiaries, which provide corporate finance advisory, asset management, trust services, securities trading, and forex dealing.

It also has a fintech company, which includes a full-service digital bank that provides general banking services to retail consumers. This also includes payment services and retail credit. Finally, the Group has a finance company that provides advances to mid-sized corporate businesses.

On the distribution side, he disclosed that DLM works with domestic pension fund managers, asset managers, bank treasurers, corporate bankers, trustees, high net worth individuals, and other retail investors, as well as with international emerging market fund managers and international banks with an appetite for sub-Sahara African investments.

He listed the subsidiaries to include Advisory Limited, SoFRI Digital Bank powered by Links Microfinance Bank Limited, CitiHomes Finance Company Limited, DLM FX Trading Limited, DLM Trust Company Limited, DLM Securities Limited, and DLM Asset Management Limited, adding that their operations are regulated by the Securities and Exchange Commission (SEC) or Central Bank of Nigeria (CBN).