Baobab Group completed the acquisition of the remaining 19.9% stake in Baobab Microfinance Bank from uMunthu Investment Company for NGN3.5bn.

Baobab Group, a digital financial services provider, completed the acquisition of the remaining 19.9% stake in Baobab Microfinance Bank, a national microfinance institution in Nigeria, from uMunthu Investment Company, a specialized impact investment vehicle, for NGN3.5bn. This strategic transaction is expected to enhance Baobab's capacity to deliver greater value to its customers while furthering its mission to expand financial inclusion across Nigeria.