UsPlus raises ZAR 80 million from its inaugural listed bond issuance

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JOHANNESBURG, South Africa, August 30, 2024/ — Verdant (www.Verdant-Cap.com) has raised ZAR 40 million for Us Plus Limited (“UsPlus”) as a senior unsecured note through UsPlus’ JSE-listed social bond. The investment comes from an Africa-focused fund headquartered in Europe and was matched by an equal investment through local funding on the JSE making ZAR 80 million in total through the bond issuance.  Furthermore, in parallel UsPlus drew down ZAR 60 million for a bilateral facility previously arranged by Verdant, making a total of ZAR 140 million of new funding this quarter (approx. USD 7 million).  This substantial funding injection increases the total capital raised for the business by Verdant to USD 22 million in just over 2 years. It underscores market confidence in UsPlus’ mission to drive economic growth and social impact in South Africa.

UsPlus, known for its innovative financial solutions tailored for SMEs, is dedicated to enhancing competitiveness and access to finance for small and medium enterprises. This strategic partnership reinforces UsPlus’ commitment to fostering sustainable development and economic inclusion in South Africa.

The fresh capital will empower UsPlus to expand its support, particularly to black-owned, women-owned, and youth-owned MSMEs, particularly in underserved provinces. By focusing on sectors such as food security, waste management, and manufacturing, UsPlus aims to create lasting positive changes in local communities by contributing to employment creation, food security and sustainable production.

This collaboration highlights the vital role of social bonds in mobilising capital for impactful projects, and it reinforces UsPlus’ position as a catalyst for financial inclusion and economic empowerment in South Africa. The commitment from this latest funding partner and the continued support from local funders are a testament to the crucial work being done by UsPlus to promote sustainable growth and support the nation’s SME sector.

This is the fourth investment into UsPlus arranged by Verdant from international development finance institutions and impact investors.

The transaction further solidifies Verdant as a leading advisor and manager for inclusive financial institutions in Africa.

Terms for the transaction were not disclosed.

Media enquiries:
Orient Mahonisi
orient.mahonisi@verdant-cap.com

About Verdant IMAP:
Verdant IMAP is a leading investment bank operating on a pan-African focus, specialising in M&A and in private capital markets.  Verdant IMAP is the IMAP partner firm for its region.  IMAP with partner firms in nearly 50 countries, with over 600 M&A professionals, completing over 200 M&A transactions per year, reinforces Verdant IMAP’s capability to deliver innovative financial solutions to clients across Africa and around the World. www.Verdant-Cap.com

Source: US Plus Limited, Verdant

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