Monter Capital invests in Botswana's SME-focused Prolude Capital
TLDR
- Monter Capital invests in Prolude Capital, a financial institution in Gaborone, Botswana
- Prolude aims to generate wealth for SMEs and individuals with financial solutions
- Monter's investment shows confidence in local enterprises and Botswana's financial services sector.
Monter Capital has revealed its investment in Prolude Capital, a financial institution based in Gaborone, Botswana. Prolude is committed to generating wealth for small and medium enterprises and individuals through a strategic mix of financial solutions.
Kelebogile Mading, one of Prolude Capital's founders and CEO, expressed enthusiasm about Monter Capital's investment, seeing it as a testament to their confidence in local enterprises and the Botswana financial services sector.
Dr. Brian Malambo, Monter Capital's CEO, highlighted the firm's commitment to a long-term investment strategy, emphasizing its dedication to investing in impactful and growth-oriented companies throughout sub-Saharan Africa.
Key Takeaways
Prolude Capital represents one player in a pool of companies, both legacy and startups, looking to provide SME financing in Africa. Lack of access to working capital remains a huge problem facing the growing small and mid-sized retail sector in emerging and frontier markets, including Africa. Available data shows a $330 billion financing deficit for the small enterprises that make up 90% of businesses on the continent—and it’s a problem several startups and foreign investors are particularly keen to address as it promises attractive returns.
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