Alitheia and Goodwell Exit Baobab Nigeria, Celebrating a Decade of Growth

Alitheia Capital and Goodwell Investments have announced the first exit of their joint uMunthu Fund: Baobab Nigeria, which is providing inclusive banking services to individuals and MSMEs in underserved areas.

The announcement mentioned that more than 12 years after investing in Baobab Nigeria, Alitheia and Goodwell have now exited the investment.

This is not only a testament to the impressive growth and financial stability Baobab Nigeria has achieved with the support of these two investors, but it also proves the ability of patient capital to drive both financial and impactful returns.

– Excerpt from the Press Release

This was a bank that was operating out of a single room in northern Nigeria when we invested, and today it is top-three nationally licensed microfinance bank. We’ve walked a journey of leadership, governance, and financial and impactful growth, scaling from small beginnings through to the top-tier national microfinance bank that it is today. We’re proud of what’s been achieved together, and look forward to seeing where the future will take Baobab Nigeria.

– Tokunboh Ishmael, Managing Partner, Alitheia