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This strategic acquisition strengthens Beltone Capital’s footprint in the financial services sector and aligns with its regional expansion strategy into high-growth African and emerging markets. Baobab Group operates across seven African countries , including Senegal, Côte d’Ivoire, Madagascar, Burkina Faso, Mali, the Democratic Republic of Congo, and Nigeria, serving approximately 500,000 customers. Through this acquisition, Beltone Capital aims to enhance financial inclusion and drive sustainable economic growth across these markets.
The transaction remains subject to various regulatory and antitrust approvals.
The Asafo & Co. team advising Beltone Capital was led by partner Patrick Larrivé who was assisted by associates Maxence Létisse and Adji Meriem Dieng, as well as associates Guy-Fabrice Holo, Zineb Benabdellah, Habiba Bensaid, Assia Khalidi and Othmane Mestari. Rothschild & Co. (Luc Hanon) acted as the financial advisor to Beltone Capital.