Investors Back Platinum Credit Uganda: First Tranche Subscribed Nearly 2.5 Times

(MENAFN- APO Group)

Platinum Credit Uganda this week listed its Medium Term Notes on the Uganda Securities Exchange (USE), after investors bid for almost two and a half times the amount on offer in the first tranche.

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The first tranche of the private placement, with a base quantum of UGX 20 billion with a greenshoe option of UGX 10 billion, closed at a subscription rate of 246%, with investors applying for more than UGX 49 billion. Given the strong demand, Platinum Credit exercised the greenshoe option, and UGX 30 billion of notes was accepted. The tranche is the first issuance under a UGX 70 billion Medium Term Note programme approved by the Capital Markets Authority (CMA). The programme also includes a greenshoe option of UGX 30 billion, which takes the full programme to UGX 100 billion.

Investors could choose between three-, five- and eight-year notes, with interest paid quarterly. The notes were issued on 30 September 2026.

The company plans to use the new funding to grow its lending to the individuals and micro, small and medium enterprises (MSMEs) it already serves. At the end of 2025, Platinum Credit Uganda had over 30,000 active clients across Uganda. In the same year, small and medium businesses received more than UGX 71 billion in loans, helping them keep their cash flow steady and their operations running. In 2026, the company aims to put a further UGX 10 billion into Ugandan small businesses, prioritising those led by women and young people, and to expand its lending to smallholder dairy farmers.

Albert Abaasa, Managing Director of Platinum Credit Uganda, said: "We invited bids for UGX 20 billion and investors offered us nearly UGX 50 billion, which allowed us to exercise our greenshoe option and raise UGX 30 billion. That is a clear sign of trust in how we run this business and in where we are taking it. These funds will help us reach more customers across Uganda, and listing on the USE gives investors an opportunity to back a business that is expanding access to finance."

Brett Sievwright, Chief Executive Officer of Platcorp Group, said: "Ugandan investors have given Platinum Uganda a strong vote of confidence. Raising long-term funding locally, in shillings, means the business can lend in the same currency its customers trade in. The strength of demand shows clear investor confidence in Platinum Uganda's growth story. We thank the Capital Markets Authority, the Uganda Securities Exchange and our partners for their work in bringing these notes to market."

Distributed by APO Group on behalf of Platcorp Group.

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About Platinum Credit Uganda:
Platinum Credit (U) ( ) Ltd is a leading credit-only microfinance institution, dedicated to providing accessible and flexible credit solutions to individuals and small businesses across Uganda. Founded in 2009 and a subsidiary of Platcorp Holdings Limited, the company has established itself as a market leader in providing innovative microfinance services for underserved communities across East Africa. Regulated by the Uganda Microfinance Regulatory Authority (UMRA), Platinum Credit operates over 50 branches across 37 districts, serving over 30,000 active customers.

About Platcorp Group:
Platcorp Group ( ) is a leading sustainable impact finance institution dedicated to advancing financial inclusion and economic empowerment for individuals and micro, small, and medium-sized enterprises (MSMEs) across Africa and beyond. Since 2003, Platcorp has disbursed over USD 3 billion in loans to 2.82 million clients. Today, the Group's reach spans more than 1.2 million active client accounts, with a strategic focus on underserved borrowers. Utilising innovative fintech solutions, Platcorp creates long-term value and remains a vital driver of entrepreneurship and job creation within underserved markets.

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