Leasafric Ghana, a leading asset finance institution, has secured a GHS 10 million (approx. € 0.7 million) facility from the global cooperative and social impact investor, Oikocredit.
What will be the use of the funds?
Leasafric Ghana will use part of the loan to develop an agri-leasing product which will provide agricultural equipment to smallholder farmers in northern Ghana, enabling them to raise their productivity and incomes. This follows capacity building, supported by Oikocredit, that helped Leasafric diversify into agriculture.
The balance of the loan will be invested in its vehicle leasing business. Its small and medium enterprise partners in the transportation sector will benefit from developing their ride-hailing businesses. In 2023, the company partnered with ride-hailing company Yango to support Yango’s expansion in Ghana. Through the partnership, Leasafric procures and makes vehicles available to Yango’s partners, who operate on Yango’s platform.
Ikechukwu Chiobi, Managing Director of Leasafric Ghana, said: “We are delighted to work with Oikocredit in providing more financing for our country’s farmers and to enable our transport partners to develop their businesses and create jobs, including for youths. In both sectors, we are committed to empowerment and helping low-income people improve their lives and livelihoods.”
What does Leasafric Ghana do?
Founded in the 1990s with its head office in Accra, Leasafric Ghana is a Bank of Ghana-regulated leasing and logistics company that provides turnkey vehicle, asset, and finance leasing services to small and medium enterprises, corporations, and smallholder farmers in Ghana. Founded by the Ghanaian serial entrepreneur Mr. Seth K. Dei, the company’s shareholding has evolved over the years and is currently a subsidiary of C & I Leasing Plc, Nigeria.
Source: Oikocredit
