Despite the extremely tough challenges of the Global Economic slow-down and the Nigerian Banking credit and liquidity squeeze, Aquila Capital Limited, the diversified financial services group, has securedÂ Â $5million in Long-term debt financing for its leasing subsidiary Aquila Leasing Limited from the Belgian Investment Organisation(BIO) based in Brussels.
The Belgian Investment Organisation (BIO) chronicled its investment in Aquila Leasing among others, of $5m for a period of 5 years via a Long term loan for on-lending/Leasing to SMEâ€™s.Â BIO is a Development Finance Institution (DFI) owned by the Belgian government and private institutions and aims at supporting SMEâ€™s through the Banking sector/ Financial Institutions especially in developing countries.Â Â BIOâ€™s commitments to funding projects currently stand at aboutÂ $203millionÂ with actual investments ofÂ $127million that cut across Africa, Asia and Latin America.
The Aquila Capital group has continued to attract Foreign Direct Investment (FDI) to the country in general and the Leasing sector in particular despite the extremely tough operating environment.Â This clearly indicates the confidence that BIO has in the management of Aquila and the potential latent within the Nigerian economy irrespective of the current economic challenges.
Aquila had secured various capital inflows previously, including equity from AfricInvest, the Tunis based Private-Equity firm as well as the successful issuance of its Euro denominated convertible bond offering, all in 2007.Â Â Â In 2009, Aquila secured a $10m Long-term, dual currency loan deal from the Netherlands Development Financing Bank (FMO) for on-lending/Leasing to SMEâ€™s.
Aquila Capital has been in operation since July 2005 and its management is led by Mr Chuka Onwuchekwa, a professional with diverse experience in both the Nigerian and African Banking space.
The company is focused on Fleet Management, Consumer Leasing and SME.