By Chinyere Joel-Nwokeoma
Lagos, Jan. 29, 2021 Restorium Capital Ltd. has unveiled three products and services to address funding gaps in the financial market, make businesses more competitive and to ensure job creation.
Mrs Omotayo Adeola, the company’s Managing Director/CEO, unveiled the products on Friday at a virtual news conference in Lagos.
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.
Adeola said 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.
She said the project and business financing services to private and public companies was through debt, equity or a mix of funding solutions, such as refinancing of existing loans and purchase of existing facilities.
She urged the Nigerian business community to leverage the company’s cutting edge services to expand their businesses and increase competitiveness.
“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,” she said.
She explained that there was the need to attract investible funds from Europe and other developed markets.
“We raise funding for projects, we raise funding for infrastructural development, we have 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,” Adeola added.
According to her, 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.
She said Restorium Capital activities revolved round impacting the African economies by providing the needed investments required to jumpstart various fields of endeavours.
Adeola 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.
“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 dollars and above as well as Public Private Partnerships (PPP) projects from 100 million dollars and above.
To realise its mandate, Adeola stated that the company would be expanding to other Anglophone African countries by third quarter of 2021 starting with Ghana.
Naija247news reports that Restorium Capital was founded in 2016 as an investment banking and project development firm. The company specialises in providing financial advisory and related services across project financing, capital raising and structured trade finance services to a diverse clientele base.