TLG Capital (TLG) on Sunday announced it has purchased 49% of Opportunity Bank Uganda Ltd (OBUL), a commercial bank with 23 branches across Uganda.
TLG’s investment was made via its Credit Opportunities Fund (COF) and marks a continued focus on building and supporting SMEs in the Healthcare, Financial Institutions, and Consumer Goods sectors.
Banks and financial institutions have been hit hard across the continent due to COVID-19. Therefore, TLG believes that this is right time to invest in the banking sector, both from a commercial point of view and from an impact perspective. TLG believes that overlaying further digital technology within the bank’s product suite will expand the bank’s reach and lay a stronger pathway towards including those currently outside of the financial system.
TLG's fintech expertise makes this an exciting investment for OBUL as far as her digital and commercial progress goes.
Uganda In Focus:
Population - 44.2 million (Compared to South Africa's 59.6 million)
GDP: $34.38 billion (Compared to South Africa's $369.85 billion)
GDP Per Capita: $780 (Compared to South Africa's $6,193)
