Arab Finance: Company announced Beltone Holding announced the signing of an agreement to exercise the put option with Baobab shareholders to acquire a controlling stake in the company through Beltone Capital, one of its wholly owned companies, according to the statement sent on December 31.
Baobab is one of the leading financial services companies in Africa, providing financial solutions to more than half a million MSME clients. Baobab also provides its services in seven African countries, including Senegal, Ivory Coast, Madagascar, Burkina Faso, Mali, the Democratic Republic of the Congo and Nigeria.
In this context, Dalia Khorshid, CEO and Managing Director of Beltone Holding, commented: “This is an important step in the regional expansion plan in African and emerging markets based on data analysis and digital transformation. From this standpoint, we confirm our commitment to sustainable growth with a strategic impact enhanced by services.” Innovative finance powered by technology and artificial intelligence.”
The Board of Directors of Beltone Holding also approved a shareholder loan to finance the acquisition process after completing all necessary approvals and regulatory procedures and signing the share purchase agreement.
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