ALCB Fund commits R50 million to UsPlus Social Bond to fuel South African SME growth

The African Local Currency Bond Fund (ALCB Fund), managed by Cygnum Capital, has executed a follow-on investment of R50 million (approximately $3 million) in South African fintech UsPlus. The capital is structured as a four-year senior unsecured social bond, issued under UsPlus’ broader R1 billion (approximately $61 million) note programme. The notes are actively listed on the Sustainability segment of the JSE Limited’s Interest Rate Market.