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Afrinvest (West Africa) Limited just announced that it’s starting a new way to get money, like a loan, called commercial paper. They want to get N5 billion in two parts, Series 1 and Series 2, as part of their bigger plan to get N25 billion.
The first set, Series 1, is like borrowing for 180 days, and they promise to give back 16.5% more. The second set, Series 2, is for a bit longer, 270 days, and they promise to give back 18% more.
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If you want to be part of this money plan, you can join with at least N1 million, and then you can add more in chunks of N1000. But you need to decide before January 24, 2024, because that’s when they close the offer. After that, these papers will be traded on the FMDQ Exchange.
Afrinvest has good ratings from people who check these things, like getting an A3 from GCR Ratings and a BBB- from Agusto & Co.
This year, lots of Nigerian companies have done this commercial paper thing, about N90 billion worth. The rates Afrinvest is giving, 16.5% and 18%, are much higher than what the government is offering on their loans, called Treasury Bills. It’s like Afrinvest is saying, “Invest with us, and we’ll give you more in return.”
It’s a bit like a big money show, with Afrinvest as the star, promising good returns for those who join in. If you want to be part of it, make sure to decide before January 24, and you might see your money grow.
