Pomegranate Nigeria Limited has successfully raised N2.25bn Al-Ijarah Sukuk 3-year Note through WealthBridge Capital Partners Limited.

This was disclosed during the signing ceremony of the contract in Lagos.

The firm in partnership with United Capital Trustees Limited said the Private Sukuk Al-Ijarah notes would be used to raise fund to purchase 40 new logistic trucks to meet recently signed contracts with the likes of FrieslandCampina WAMCO Nigeria Plc, Suntory Beverage, and Foods Ltd, and Seven-Up Bottling Company Plc.

The Sukuk, according to PNL, was certified by Sheik Sohail Zubairi, an Internationally Certified Shariah Advisor and Auditor from the United Arab Emirates,

The Chief Executive Officer, Pomegranate, Mr Wole Elusakin, told The PUNCH while signing the document that “The fund-raising process completion represents a major milestone for Pomegranate Nigeria Ltd.

“It further increased the ability of the company to take on new business challenges head-on as access to an alternative source of funding will help PNL meet its expansion strategy.”