Originally published: February 26, 2008
Source: Blackstar Investors Plc.
Blackstar Investors Plc. will provide a R100 million (US$11 million) convertible loan facility to Kagisano Group Holdings Limited (Kagisano). The loan facility will enable Kagisano to grow its loan portfolio to more than R300 million (US$31 million). To fund this transaction, Blackstar has agreed to a R100 million (US$11 million) loan facility with Investec Bank Limited (Investec) on matching terms.
Kagisano is a financial services group that targets the financial needs of clients in the lower income groups of South Africa with a broad range of financial services products. These include credit products, cellular products, insurance products, employee benefits and other financial solutions.
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