With $1 million Microfinance Investment from Africap Microfinance Fund, Union Trust Bank Becomes First Commercial Bank in Sierra Leone to Offer Microfinance Services

Thanks to a substantial investment from The Africap Microfinance Fund, The Union Trust Bank (UTB) will be launching a new microfinance unit this month, making it the first commercial bank in the country to initiate microfinance activities. The $1 million investment consisted of Subscription Redeemable Preference Shares. UTB will also be receiving more than $300,000 in technical assistance. UTB is the first indigenous bank in Sierra Leone. No further information regarding its financial performance is publicly available.

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