Uni Walkers get $ 15 m financing boost from IFC

Monday, 24 December 2012 00:00 - - {{hitsCtrl.values.hits}}

Uni Walkers Ltd. and Uni Walker Distributors Ltd., fully-owned subsidiaries of Softlogic Holdings Plc, are getting a $ 15 million boost from the International Finance Corporation (IFC), the World Bank’s private sector support arm.

Out of the $ 15 million financing arrangement, $ 10 million is a quasi-equity and $ 5 million is a 10-year loan with a three to five year grace period.

The deal has been approved by the Central Bank.

IFC funding will be used by Uni Walkers to expand retail operations by increasing the number of retail stores to 280, provision of working capital for the expansion of retail operations and for a consumer finance product resulting in greater penetration of the retail operations of Uni Walkers in new markets.