Beltone completed the acquisition of a majority stake in Baobab.

Beltone, a financial services provider, completed the acquisition of a majority stake in Baobab, an exploration and development company, from Apis Partners, a global private equity asset manager, Abler Nordic, a specialized investment firm, AXA Investment Managers, an investment management company, and European Invesment Bank, the lending institution of the European Union. Financial terms were not disclosed. “This strategic partnership with Beltone marks a major milestone for Baobab Group, paving the way for major opportunities in growth and innovation. With our shared vision and values, we are confident that together we will drive further progress in expanding access to financial services across the African continent," Philip Sigwart, Baobab Group CEO.