ADC African Development Corporation

ADC African Development Corporation AG (ADC) was initially set up as a private equity investment company focusing on banking, insurance, financial technology and real estate opportunities in sub-Saharan Africa in 2007. ADC had a strong footprint in Southern Africa via BancABC, a regional commercial banking group operating in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe as well as in West Africa via Union Bank of Nigeria. Parallel to its banking operations, ADC had a private equity portfolio active in frontier growth markets across sub-Saharan Africa. In 2012, based on its banking portfolio, ADC refined its strategy to become a leading merchant banking group in sub-Saharan Africa. Accordingly, ADC attracted Atlas Mara Limited to become a strategic investor and majority shareholder during 2014. For more information, visit Atlas Mara's website at www.atlasmara.com.