Africa Lease Togo increased its capital by XOF400 million

Public finance
Thursday, 06 February 2020 17:07
Africa Lease Togo increased its capital by XOF400 million

(Togo First) - Africa Lease Togo (ALT), which entered the Togolese market in the last quarter of 2019, has raised its capital to XOF3.5 billion, from XOF3.1 billion. 

The decision was taken during an extraordinary general assembly of the subsidiary of the Danish company. 

The capital was raised by issuing 350,000 fully paid-up shares with a nominal value of XOF10,000 per unit. The operation aims at increasing the portfolio dedicated to leasing and factoring transactions. This should help local SMEs and SMIs, short on funds, secure production tools at better conditions.   

In June 2019, Togo’s parliament passed a law on leasing. Subsequently, Demba Tignokpa, minister of development planning and cooperation, had declared at the time: “The adoption of this law is major and it provides for an adequate legal framework that enables the banking system to improve private businesses’ access to loans to boost their activities.”

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