The Canadian investment holding Fairfax Africa, was granted a $90 million revolving loan, sources close to the firm reveal.

The firm illustrated itself in 2017 with about $158.3 million investment in Atlas Mara, a bank holding, to acquire 43.3% of its equity and become an indirect shareholder of Union Bank, one of the most important banks listed on the Nigerian Stock Exchange and Atlas Mara’s subsidiary.  

Encouraged by some uninteresting performances in 2017, Fairfax Africa is now more committed than ever to investing in Africa. Its holdings accounted for $11.3 million in its turnover ($31.8 million) in 2017. Because its expenses were less important during that period, the net profit was $23.4 million.