Baobab Group completes sale of Chinese subsidiary, MicroCred China
CIGP acted as the Financial Advisor and Escrow Agent for Baobab Group's sale of its Chinese subsidiary, MicroCred China, to a Hong Kong-based investor as part of its strategic focus on advancing financial inclusion for the underbanked in Sub-Saharan Africa.
Baobab is a financial services group with operations in seven countries on the African continent and 4,800 team members. Through its subsidiaries, Baobab provides financial services to half a million micro entrepreneurs and small businesses, fulfilling its mission of broadening access to finance among those underserved by traditional banks.
Baobab’s global range of products includes micro-loans, savings solutions, transaction and daily banking services as well as innovative banking products like mobile payments, buy-now-pay later plans and digital nano loans. Its largest shareholders include AXA, APIS Growth 2 Ltd, Abler Nordic and the European Investment Bank.
Transaction Highlights
This transaction reflects Baobab’s strategy to streamline its group operations and align its portfolios with its core mission to social impact and sustainable development. The proceeds will enable Baobab Group to strengthen its presence in Sub-Saharan Africa, capitalise on synergies, and further solidify its position as the region’s leading microfinance provider.
Role of CIGP
Bespoke Approach: CIGP provided a turnkey solution to address transaction requirements between Baobab Group and the buyer, leveraging on its institutional custody infrastructure, corporate finance expertise, and entrepreneurial mindset.
Efficient Platform: CIGP's international team collaborated seamlessly on this project to ensure efficient delivery process, high-quality of service and comfort to all parties.
