Baltone Holding Announces Agreement to Acquire Majority Stake in African Financial Firm Baobab
Cairo-based financial services provider in the MENA region Beltone Holding, announced that its wholly owned subsidiary, Beltone Capital, has entered into a put option agreement to acquire a majority stake in Baobab.
Baobab is a prominent African financial services provider catering to over half a million micro-entrepreneurs and MSMEs across seven countries, including Senegal, Côte d’Ivoire, and Nigeria.
Baobab’s extensive presence across key African countries strengthens Beltone’s ambitions to drive sustainable growth and innovation in financial services, leveraging data science and AI to deliver impactful solutions.
Founded on a vision of redefining the financial ecosystem, Beltone has a long-standing track record of success in the MENA region. The Company offers a comprehensive suite of financial solutions, including brokerage, investment banking, asset management, and private equity, along with end-to-end non-banking financial services.
“This marks a significant milestone in our strategic data-driven expansion into high-potential and digitally scalable African and Emerging Markets,” said Dalia Khorshid, Group CEO of Beltone Holding.
Beltone’s Board of Directors has approved securing a shareholder loan to finance the acquisition, subject to regulatory approvals and the signing of a binding share purchase agreement.
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