TLG Capital And Fidelity Bank To Invest $20 million On Nigerian SMEs
TLG Capital, a private equity company, has announced that it will invest $20 million in SMEs in Nigeria in collaboration with Fidelity Bank Plc.
The funds will be directed to the creation of SMEs in the country through TLG’s Africa Growth Impact Fund (ADIF). The fund would specifically target SMEs in the healthcare, education, and consumer sectors, among 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.
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.
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.
