Initial investor response to Atlas Mara’s plans was enthusiastic. Coco Ferguson, a partner at $50m East Africa-based investment group Maris Capital, said growth in sub-Saharan Africa had been stymied by local banks’ limited interest in lending to small businesses: “Typically, all loans need 100% asset or land backing,” she said. “If this new bank takes a different approach, it could unleash a whole new life for small businesses in Africa. I can’t wait!”
Read the full piece on the Wall Street Journal’s website.