Beltone’s unit eyes majority stake in Baobab to expand regional footprint
Updated 12/31/2024 9:25:00 AM
Arab Finance: Beltone Capital, a fully-owned subsidiary of Beltone Holding, has entered into a put option agreement to acquire a majority stake in Baobab, according to a press release.
The company’s board approved securing a shareholder loan to finance the acquisition upon signing a binding share purchase agreement and obtaining regulatory approvals.
This deal anchors Beltone’s objectives to drive innovation, deliver long-term value, and expand its regional footprint.
Dalia Khorshid, Group CEO of Beltone Holding, commented: “We are committed to a transformational impact in financial services backed by Data Science and AI to ensure ongoing sustainable growth.”
Baobab is a leading African financial services provider serving more than half a million micro-entrepreneurs and MSMEs.
It operates across seven African countries, including Senegal, Côte d'Ivoire, Madagascar, Burkina Faso, Mali, the Democratic Republic of Congo, and Nigeria.
Beltone Capital recently inked a deal with CRIF to launch a new entity that provides a holistic set of rating solutions in the Egyptian market.
Related News
