Fairfax Africa to commit $130 mln to sub-Saharan bank investor

Fairfax Africa Holdings Corp (TSX: FAH.U) has agreed to invest a minimum of US$130 million in Atlas Mara Ltd, a financial services institution focused on the region of sub-Saharan Africa. The deal will anchor a broader strategic investment in Atlas Mara and is expected to give Fairfax Africa an interest of at least 35 percent. The proceeds will be used by Atlas Mara to invest in sub-Saharan banks and other priorities. Fairfax Africa, an affiliate of Canada’s Fairfax Financial Holdings Ltd, raised US$500 million earlier this year to invest public equity, private equity and debt in African businesses.

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