Reinforcing its commitment to deepening access to long-term capital for Nigeria’s microfinance sector, FMDQ Securities Exchange Limited (“FMDQ Exchange” or the “Exchange”) has approved the listing of LAPO MFB SPV PLC’s ₦4.46 billion Series 1 5-Year 20.00% Fixed Rate Bond under its ₦30.00 billion Bond Issuance Programme. This approval, granted by the Exchange’s Board Listings and Markets Committee, provides a platform for mobilising long-term capital to support the growth objectives of LAPO Microfinance Bank and reflects the continued relevance of the Nigerian debt capital market in connecting issuers with funding for sustainable expansion.
LAPO MFB SPV PLC (“LAPO MFB” or the “Issuer”) is a special purpose vehicle established to facilitate capital raising on behalf of its sponsor, LAPO Microfinance Bank Limited, one of Nigeria’s leading microfinance institutions. Proceeds from this Bond issuance, sponsored by FirstCap Limited (Lead Sponsor) and AVA Capital Partners Limited (Co-Sponsor), both Registration Members (Listings) of FMDQ Exchange, will be used to expand financing opportunities for small and medium-sized enterprises, improve access to renewable energy solutions and strengthen the delivery of digital financial services to micro, small and medium-sized enterprises across Nigeria.
Commenting on the Bond listing, Mr. Oluwaseun Afolabi, Senior Vice President, FMDQ Exchange, said, “The listing of LAPO MFB SPV PLC’s Series 1 Bond reflects the growing sophistication of Nigeria’s debt capital markets and their capacity to support long-term funding needs across the financial inclusion space. Through listings such as this, FMDQ Exchange continues to foster a market that channels capital towards enterprises and initiatives capable of delivering broad-based economic impact.”
FMDQ Exchange remains dedicated to strengthening the flow of long-term capital available to Nigeria’s financial inclusion ecosystem, recognising the pivotal role that microfinance institutions play in extending credit and financial services to individuals and small businesses often excluded from mainstream banking. By facilitating access to the bond market for issuers such as LAPO MFB, the Exchange supports the broader national agenda of expanding financial access, empowering micro and small enterprises, and fostering inclusive, sustainable economic development.
FMDQ Group PLC (“FMDQ Group” or the “Group”) is Africa’s first vertically integrated FMI group, strategically positioned to provide end-to-end services across the financial markets value chain. The Group offers registration, listing, quotation, and noting services; integrated trading platforms; clearing & central counterparty, and settlement services for financial markets transactions; securities depository services; and market data & information services, across the debt capital, foreign exchange, derivatives, and equity markets, through its wholly owned subsidiaries – FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa’s premier Green Exchange – FMDQ Green Exchange – positioned to lead the transition towards a sustainable future.