Madison Finance Company Limited (Mfinance) is one of the largest licensed microfinance Institutions in Zambia with a network of 18 branches. It is one of the top 3 financial services provider of micro, small and medium sized enterprise (‘MSME’) loans in Zambia.
TKF acquired a 20% stake in MFinance in August 2013 with a follow on investment of 5% in August 2014, and invested in additional preference shares to help the business grow its existing loan book to small and medium enterprises.
The Regional PE fund Kibo I has partially exited its investment in MFinance through redemption of its preference shares in October 2015.