Beltone Holding (“Beltone” or the “Company”) announces that its wholly owned subsidiary, “Beltone Capital”, has entered into a put option agreement to acquire a majority stake in Baobab, a leading African financial services provider serving more than half a million micro-entrepreneurs and MSMEs. Baobab operates across seven African countries, including Senegal, Côte d’Ivoire, Madagascar, Burkina Faso, Mali, Democratic Republic of Congo, and Nigeria.
Dalia Khorshid, Group CEO of Beltone Holding, commented: “This marks a significant milestone in our strategic data driven expansion into high-potential and digitally scalable African and Emerging Markets. We are committed to a transformational impact in financial services backed by Data Science and AI to ensure ongoing sustainable growth.”
The Company’s Board of Directors has approved obtaining a shareholder loan to finance the acquisition upon signing a binding share purchase agreement and obtaining regulatory approvals. This deal would emphasize Beltone’s ambition to drive innovation, deliver long-term value, and broaden its footprint across the region.