Beltone expands global reach with $235 million Baobab acquisition

Beltone Holdings, one of the leading Egyptian financial services providers, has acquired 100% of Baobab Group for €197.6 million ($235 million) through its subsidiary, Beltone Capital. 

The deal, Beltone’s first cross-border acquisition and the largest in its history, signals the company’s ambition to expand into high-growth African markets.

The acquisition follows a strategic share purchase agreement signed on February 11, 2025, after securing all regulatory approvals. Beltone’s leadership says the move underscores confidence in its institutional strength, shareholder base, and market expertise.

Combining regional expertise and technology-led finance

The merger brings together Beltone’s operational capabilities, innovation-led financial model, and data-driven insights with Baobab’s strong local presence. 

Together, the companies aim to scale inclusive, technology-enabled financial solutions that foster entrepreneurship, expand access to finance, and support long-term economic growth across Africa.

Beltone’s diverse financial portfolio and leadership

Beltone Holdings provides a comprehensive range of financial services, including investment banking, securities brokerage, asset management, private equity, SME and microfinance solutions, venture capital, and mortgage finance. The firm also leverages artificial intelligence and data science to enhance investment decisions and operational efficiency.

Under CEO and Managing Director Dalia Khorshid, who has more than 25 years of global financial experience, Beltone has executed landmark transactions and guided major M&A deals across the region.

The Company is driven by a vision to empower growth and redefine the regional financial ecosystem, leveraging deep market expertise and technology-led innovation to unlock sustainable value for clients, shareholders, and other stakeholders.

Baobab Group is a leading digital-first financial services provider focusing on micro-entrepreneurs and small businesses in Africa and China. 

Operating in seven African countries, including Nigeria, Senegal, and the Democratic Republic of Congo, the group serves over 500,000 customers with micro-loans, savings, and digital payment solutions.

By integrating Baobab’s deep local knowledge with Beltone’s technology-led services, the combined entity plans to deliver innovative solutions tailored to the needs of small businesses and micro-entrepreneurs.