CRRH-UEMOA increases its capital by CFA200 million

Finance
Thursday, 15 April 2021 15:09
CRRH-UEMOA increases its capital by CFA200 million

(Togo First) - The Regional Fund for Mortgage Refinancing of the WAEMU (CRRH-UEMOA) increased its capital to CFA9.888 billion, from CFA9.688 billion. 

To this end, the Lomé-based institution-issued 20,000 new shares having a nominal value of CFA10,000 each. 

By increasing its capital, the CRRH-UEMOA hopes to have more leeway to make new investments or develop its mortgage funding segment. Additionally, it should provide the Fund enough financial robustness to avoid borrowing. 

The CRRH-UEMOA is the third-best ranked financial institution by Moody’s in the WAEMU. It comes after the AfDB and the BOAD. 

Indeed, in 2020, Moody’s assigned CRRH-UEMOA the following first-time ratings: Ba2 long-term corporate family rating, Ba2/Not Prime long and short-term local currency issuer, and Ba3/Not  Prime long and short-term foreign currency issuer. 

At the time it issued these ratings, the US agency explained the CRRH-UEMOA ratings by “the strong asset quality underpinned by conservative structuring of its lending.”

Séna Akoda

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