Cygnum's African bond fund backs South Africa's UsPlus

What's the deal? Cygnum CapitalDealroom has a profile for this one. Try Dealroom →'s African Local Currency Bond Fund has made an investment in UsPlusDealroom has a profile for this one. Try Dealroom →, the firm announced. The size of the investment was not disclosed.

What's the endgame? The fund invests in local currency bonds across Africa, backing companies in the currencies of the markets where they operate.

The signal: Local currency financing remains a persistent gap for African businesses, which often carry foreign-exchange risk when they borrow in dollars. Deals like this one point to growing investor appetite for financing structured in local terms.

Read more: alpha-maven.com

Image credit: Jorge Lascar