Moneda raises N6bn via commercial paper, surpassing target to fund Africa resource SMEs
Moneda Investment Limited raised N6 billion through its Series 1 Commercial Paper issuance, exceeding its initial N5 billion target by 20% under its N30 billion programme. The transaction recorded 120% subscription, allowing the company to increase the amount by N1 billion. Funds will support businesses across Africa’s natural resource value chains through alternative credit and operational support, focusing on helping local SMEs capture more value from major investments.
CEO Ejike Egbuagu said the successful raise shows growing market acceptance of Moneda’s unconventional business model, while CFO Emeka noted it marks a shift from reliance on a close funding network to accessing the wider capital market directly. Group MD of MCL, Ebi Enaholo, highlighted the regulatory filing, approval and investor marketing process that led to the issuance.
This raise adds to a surge in Commercial Paper activity in Nigeria, with SEC-approved issuances hitting N1.37 trillion in the first ten months of 2025, though actual drawdowns were lower at N753 billion, reflecting a 54% utilisation rate. For SMEs in mining, agriculture or energy, this could mean new financing avenues; for investors, it signals growing confidence in resource‑linked debt. Will you consider such instruments for your portfolio or business funding needs?