Fintech Giant Baobab Group Acquired by Beltone Holdings in €197.6M Transaction

Egyptian investment giant Beltone Holdings has completed the acquisition of Baobab Group, a Paris-headquartered fintech and microfinance provider, in a landmark deal valued at €197.6 million (approximately $235 million). This transaction was executed in Cairo through Beltone Capital, a subsidiary of Beltone, marking the company's first cross-border acquisition and the largest deal in its history.

Baobab Group is a major force in financial inclusion in Africa, with a portfolio worth over €848 million and serving over 1.6 million customers. The business focuses on lending money to small and medium-sized enterprises (MSMEs), a sector vital to Africa's growth in the economy, and offering digital financial services.

With this acquisition, Beltone gained an immediate footprint in seven African markets namely Senegal, Côte d'Ivoire, Burkina Faso, Mali, Madagascar, Nigeria, and the Democratic Republic of the Congo. This move connects North Africa and Sub-Saharan Africa, aiming the promote Beltone as a pan-African financial services platform. 

The investment, according to Beltone's management, is in line with its strategy of carefully assessing high-potential areas in order to promote financial inclusion and generate long-term shareholder value. The acquisition was finalized after securing all necessary regulatory approvals, including the divestment of stakes by Baobab's shareholders, such as Apis Partners, a UK-based private equity fund.

This deal strengthens Beltone's presence in seven African countries, expands its fintech capabilities, and underscores its commitment to financial inclusion and regional diversification.