Speaking on the impressive performance of Letshego’s issuance, which Stanbic Bank acted as joint arranger, Mr. Bentsi-Enchill stated “Despite the prevailing macroeconomic conditions prevailing at the time of issuance, characterized by a heightened interest rate environment, the offer garnered an impressive response from a diverse spectrum of investors. This resounding success reaffirms Letshego Ghana’s standing as a trusted and reliable corporate bond issuer within the Ghanaian debt capital markets. It also underscores the growing significance of domestic capital markets as a viable alternative funding avenue for corporate entities.”

He added that “The competitive pricing achieved in both series at a time when interest rates on traditional commercial credit facilities hovered around an average of 35% is a further testament that the domestic capital markets remain a viable and sustainable funding avenue that businesses should critically explore in their pursuit of funding alternatives.”

Mr. Bentsi-Enchill further underscored the importance of trust and integrity in building a robust financial sector in the country. According to him, “as financial sector players, let us reaffirm our commitment to upholding the values of trust, integrity, and excellence that underpin our industry. Together, we will continue to build a resilient and prosperous financial sector for the benefit of all and call on well-meaning giants of corporate Ghana to look to the capital markets to augment their funding needs including working capital requirements.”

 Letshego Ghana’s Dual Offer achieved tremendous success, which saw the Issuer raise a 2-year fixed rate note at competitive pricing of 22 per cent and a 4-year floating rate note at 182-day treasury bill plus a premium of 1 per cent. These two issuances represent the first and second series of notes issued under the newly established and expanded GHS 500 million Medium Term Notes Programme, marking Letshego Ghana’s return to the debt capital market for funding since 2021.