CapitalSage Technology Limited, a prominent integrated digital financial services group, recently celebrated the successful repayment of its fourth commercial paper valued at N2.5 Billion ($1.8 million), marking another milestone in its journey of fiscal responsibility and sustainable growth. This achievement comes hot on the heels of a significant rating upgrade to BBB+ by Agusto & Co., a notable credit rating agency.
The repayment underscores CapitalSage’s robust financial performance, as evidenced by its redemption of N3.8 billion in obligations last year, including the fulfillment of N2.5 billion commercial paper repayment under its N15 billion Commercial Paper Programme. This successful repayment, coupled with the rating upgrade, reaffirms CapitalSage’s commitment to sound financial management and steady expansion.
Agusto & Co. attributed the rating upgrade to CapitalSage’s sustained improvements in net earnings and cash flows, driven by strong demand for its service offerings and expanded operating scale. This independent validation further bolsters CapitalSage’s position in the market and reflects positively on its business strategy.
John Alamu, Group Managing Director of CapitalSage Holdings, expressed pride in these accomplishments, emphasizing their significance in demonstrating the company’s strength and dedication to empowering individuals and fostering business growth across Africa. He highlighted the pivotal role played by subsidiaries such as ERCAS and Kolomoni Microfinance Bank in driving this success.
In line with its commitment to empowering businesses of all sizes, ERCAS, a subsidiary under CapitalSage Technology, is gearing up to launch ERCASPay, a payment platform designed to facilitate seamless international transactions in over eight currencies. This initiative aims to provide businesses with enhanced capabilities to engage in global trade and expand their market reach.
Meanwhile, Kolomoni Microfinance Bank, following approval from the Central Bank of Nigeria for a name change from Cintrust Microfinance Bank, is embarking on a transformative rebranding initiative. This includes the relaunch of its user-friendly digital banking app and an expanded suite of business banking services tailored to meet the needs of small and medium-sized enterprises.
About CapitalSage Technology Limited: CapitalSage Technology Limited is a group of integrated digital financial service providers committed to offering inclusive solutions and empowering individuals and businesses across Africa. Its diverse portfolio of services includes loans, agency banking, digital banking, business payments, and payment gateway solutions.
Subsidiaries: Kolomoni Microfinance Bank: A CBN-licensed institution undergoing a significant transformation to better serve rural and underserved urban populations. Its product offerings include the Kolomoni digital banking app, business banking, rural banking, and savings solutions. ERCAS Integrated Payment: Offers digital payment and business solutions aimed at improving operations and income in the emerging digital economy. Its flagship payment gateway solution facilitates international transactions in multiple currencies, supporting businesses in their global endeavors.