SKLD Integrated Services issues N1.5bn Commercial Paper -

L - R: Mrs Bukola Oluwamese, Head, People Division, SKLD; Miss Faith Abakada, Head, Operations Division, SKLD; Tayo Osiyemi, Deputy Managing Director, SKLD; Mrs Folashade Adefisayo, Commissioner of Education, Lagos State; Mrs Temilola Adepetun, Managing Director, SKLD; Mr Muyiwa Eleshinla Head, Commercial Division; Mr Joshua Amanokhai, Financial Controller, SKLD at the recently concluded Lagos Education Conference, 2023.

SKLD Integrated Services Limited (SKLD) has successfully issued it’s series II, III, IV and V Commercial Paper (the Transaction) totalling N1.51billion (N378million for 180 days and N1.147billion for 270 days tenor).

As of March 2023, all subscribers from the Company’s commercial paper issuance debut in 2022 have been redeemed and repaid.

In the past year, SKLD drove impressive traction of 70 percent turnover growth, and 50 percent customer growth in its humanitarian aid supply segment.

It also drove 30percent growth in client coverage per city in Nigeria, and 32percent growth in the number of cities per school coverage.

The Company leveraged its e-commerce platform, further expanded its retail footprint, and diversified its product/service offerings to cater to a more robust segment including office and lifestyle categories.

Related News

Signalling its commitment to pursuing growth opportunities and creating superior value for its shareholders and customers.

In addition, the Company expanded its local production facility and began catering to other non-educational sectors. SKLD also deepened its presence in the humanitarian/relief product supply, catering to Non-Governmental Organisations (NGOs), humanitarian, donor and social impact organisations that fund, support and operate initiatives targeted at Internally Displaced Persons and the camps where they reside.

Adetayo Osiyemi, Deputy Managing Director of SKLD Integrated Services Limited, said: “The successful issuance of Commercial Paper series II, III, IV & V confirms SKLD’s commitment to pursuing growth opportunities and creating superior value for its shareholders and customers. We remain steadfast in our objective to unlock value for our stakeholders, while deepening penetration across our different strategic business units.”

SKLD’s impressive growth and diversification demonstrate its ambition to harness the Nigerian capital market in funding its operations and strategy.

The Company’s belief in the Nigerian debt capital market was evident in its recent N2.2 billion series II, III, IV & V commercial paper issuance programme. This was sponsored by Afrinvest Capital Limited and Coronation Merchant Bank Limited as the Joint-Issuing Houses.

By tapping into the domestic capital market, SKLD was able to access capital at a significantly lower rate, which can now be invested in its working capital to meet the company’s strategic objectives of catering to a more robust market segment across a wide range of uses and consumption cases, as well as driving the company’s growth trajectory for the foreseeable future.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.