Beltone Capital Acquires Baobab Stake from Apis Partners

AFRICAN STOCKS AND FINANCEFebruary 12, 2025 at 4:07 PM UTC

TLDR

Beltone Capital has acquired the full majority stake of Baobab Group
The stake in Baobab was previously held by UK private equity firm Apis Partners
The acquisition aligns with Beltone’s regional expansion strategy

Beltone Capital, a subsidiary of Beltone Holding, has acquired the full majority stake of Baobab Group previously held by UK private equity firm Apis Partners.

Apis has fully exited its position in the African SME-focused financial services provider, according to a press release. The financial terms of the transaction were not disclosed. Beltone Holding announced the share purchase agreement after entering a put option agreement last month.

The acquisition aligns with Beltone’s regional expansion strategy, with Baobab operating in Senegal, Côte d'Ivoire, Madagascar, Burkina Faso, Mali, the Democratic Republic of Congo, and Nigeria. Baobab serves around 500,000 customers across these markets.

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Key Takeaways

Beltone’s move strengthens its presence in Africa’s fast-growing financial services sector. Baobab’s operations provide Beltone with a strategic entry into key markets with strong SME demand. The acquisition underscores Beltone’s focus on digital financial solutions, leveraging Baobab’s customer base and market footprint. Beltone Holding CEO Dalia Khorshid emphasized that the deal supports financial inclusion and scalable, technology-driven services. The transaction also reflects a broader trend of M&A activity in Africa’s financial services sector, as firms seek scale and technological integration to reach underserved markets.

Finance

Acquisition

Beltone

Apis Partners

Baobab Group

Egypt

Private Equity