Tolaram Obtains $51 Million Financing for Nigerian Operations

Tolaram, the Singapore-based consumer goods group, has secured a $51 million loan from Mauritius Commercial Bank (MCB) to refinance its acquisition of Guinness Nigeria. This new financing provides greater flexibility as Tolaram continues integrating the acquired business.

The company initially purchased Diageo’s 58.02% stake in Guinness Nigeria for approximately $70 million in 2024, later increasing its ownership to around 71%. Under Tolaram’s leadership, Guinness Nigeria has returned to profitability, reporting a profit after tax of ₦41.2 billion ($31.1 million) for the 18 months ended December 2025.

The loan from MCB will replace part of a previous $90 million short-term facility from Standard Bank of South Africa, extending Tolaram’s repayment timeline and reducing reliance on shorter-term debt. This move demonstrates lenders’ continued confidence in Tolaram’s long-term strategy for the Nigerian market despite prevailing economic challenges.

The transaction highlights an emerging trend of capital flows between Asia and Africa through financial hubs like Mauritius, showcasing how businesses are increasingly leveraging regional ecosystems to expand across borders.

Nomba Raises $3 Million to Facilitate Africa–Asia Trade

In separate news, Nigerian fintech Nomba has secured $3 million in debt funding from CardinalStone Finance Company. The capital will enhance Nomba’s cross-border payment infrastructure, particularly in the Democratic Republic of Congo (DRC), where it sees significant potential for facilitating trade between Africa and Asia.

The DRC is a strategic market for Nomba, with China–DRC trade reaching $26.7 billion in 2025 alone. By providing reliable settlement solutions for these transactions, Nomba aims to become an essential partner for businesses engaged in this growing trade corridor.