Beltone Capital Pursues Majority Stake in Leading African Financial Firm, Baobab
Beltone Capital plans to acquire Baobab, expanding its data-driven financial services reach across seven African countries, emphasizing innovation and scalability.
Beltone Holding has announced that its wholly owned subsidiary, “Beltone Capital”, has entered into a put option agreement to acquire a majority stake in Baobab, a leading African financial services provider serving more than half a million micro-entrepreneurs and MSMEs. Baobab operates across seven African countries, including Senegal, Côte d’Ivoire, Madagascar, Burkina Faso, Mali, Democratic Republic of Congo, and Nigeria.
This marks a significant milestone in our strategic data driven expansion into high-potential and digitally scalable African and Emerging Markets. We are committed to a transformational impact in financial services backed by Data Science and AI to ensure ongoing sustainable growth.
– Dalia Khorshid, Group CEO, Beltone Holding
The Company’s Board of Directors has approved obtaining a shareholder loan to finance the acquisition upon signing a binding share purchase agreement and obtaining regulatory approvals. This deal would emphasize Beltone’s ambition to drive innovation, deliver long-term value, and broaden its footprint across the region.
