Bondholders extend lender’s repayment

Real People Investment group is a microfinance holding company along Mama Ngina Street in Nairobi. [Jonah Onyango/Standard]

Investors in South African micro-lender, Real People, will take a 5.3 per cent cut on their deal as the firm struggles to redeem a Sh1.3 billion bond.

The lender has talked to investors to extend its repayment period to yet another date, until August next year to avoid default.