Verdant (www.Verdant-Cap.com) has successfully raised ZAR 40 million for Us Plus Limited (“UsPlus”) in the form of a senior unsecured note through UsPlus’ JSE-listed social bond. The funding was provided by an Africa-focused fund based in Europe and was matched by an equal investment through local funding on the JSE, resulting in a total of ZAR 80 million raised through the bond issuance. In addition, UsPlus also secured ZAR 60 million through a bilateral facility arranged by Verdant, bringing the total new funding for this quarter to ZAR 140 million (approximately USD 7 million). This significant injection of funds brings the total capital raised for UsPlus by Verdant to USD 22 million in just over 2 years, showcasing market confidence in UsPlus’ efforts to drive economic growth and social impact in South Africa.
UsPlus, renowned for its innovative financial solutions tailored for SMEs, is committed to enhancing competitiveness and access to finance for small and medium enterprises. This strategic partnership further solidifies UsPlus’ dedication to promoting sustainable development and economic inclusion in South Africa.
The fresh capital will enable UsPlus to expand its support, with a focus on black-owned, women-owned, and youth-owned MSMEs, particularly in underserved provinces. By concentrating on sectors such as food security, waste management, and manufacturing, UsPlus aims to bring about lasting positive changes in local communities by supporting employment creation, food security, and sustainable production.
This collaboration highlights the crucial role of social bonds in mobilizing capital for impactful projects, reinforcing UsPlus’ position as a key driver of financial inclusion and economic empowerment in South Africa. The support from the latest funding partner and ongoing backing from local funders underscore the important work being done by UsPlus to promote sustainable growth and bolster the nation’s SME sector.
This marks the fourth investment into UsPlus facilitated by Verdant from international development finance institutions and impact investors, further establishing Verdant as a leading advisor and manager for inclusive financial institutions in Africa.
Terms of the transaction were not disclosed.
For media inquiries, please contact Orient Mahonisi at orient.mahonisi@verdant-cap.com.
About Verdant IMAP: Verdant IMAP is a prominent investment bank with a pan-African focus, specializing in M&A and private capital markets. Serving as the IMAP partner firm for its region, Verdant IMAP, in collaboration with partner firms in nearly 50 countries and over 600 M&A professionals, completes over 200 M&A transactions per year, demonstrating its ability to deliver innovative financial solutions to clients across Africa and globally. Learn more at www.Verdant-Cap.com.
Source: US Plus Limited, Verdant