Restorium Capital Launches Products to Bridge Funding Gap
By Goddy Egene
Restorium Capital Limited has introduced three products and services expected to bridge funding gaps in the financial market, make businesses more competitive and ensure job creation in the country.
The products are: trade finance and credit enhancement services, project and business financing services and stock loan funding for publicly traded stocks on the Nigerian Stock Exchange(NSE).
Unveiling the products in Lagos, Managing Director/CEO, Restorium Capital Limited, Mrs. Omotayo Adeola, explained that the trade finance and credit enhancement services were for businesses, importers, manufacturers, through the issuance of Letters of Credit, bank guarantees and proof of funds, without collateral.
According to her, the project and business financing services to private and public companies would be through debt, equity or a mix of funding solutions, such as refinancing of existing loans and purchase of existing facilities.
“We looked at the landscape and we realised that there is funding gap for projects and infrastructure development in Nigeria and the whole continent. If you look at the major problem Africa has, it’s funding, we have very low savings because incomes are low, which is affecting our disposable income as well as investment,” Adeola said.
She explained that there was the need to attract investible funds from Europe and other developed markets, adding that the company raises funding for projects, infrastructural development because it has relationships with network of investors.
“The traditional banking institutions cannot fund projects or infrastructure development by virtue of regulation you have to get every loan you give out, you have to get it collaterised,” he said.
She said the company assists prospecting businesses, governments and corporate institutions to achieve their potential by linking them with various developmental and investment funds in Europe, America, Asia and worldwide.
According to the MD/CEO, Restorium Capital Limited’s activities revolve round impacting the African economies by providing the needed investments required to jumpstart various fields of endeavours.
She noted that the COVID-19 pandemic had affected the growth and performance of the nation’s economy occasioned by imported inflation and foreign currency illiquidity.
Adeola said: “Manufacturers and trade importers are facing difficulties in sourcing foreign exchange and opening of Letter Of Credit (LOC) for the importation of much needed raw materials and finished goods. In 2015/2016, we went through a recession, now pandemic and all its associated problems that brought us back into recession.
“So, Restorium has relationships with providers that are ready to issue Letters Of Credit for importers from Nigeria to be able to bring their goods in. We are providing solutions to the problems manufacturers, importers, traders are having now,” she said.
She added that the company was working with Alliance Partners, which provides equity and debt financing for corporates from $20 million and above as well as Public Private Partnerships (PPP) projects from 100 million dollars and above.