Knowledge

Author: Mohamed Khan

Category: ,

Date: 13 December 2017

Verdant Capital’s Sale of afb Ghana on behalf of JUMO World Recognised as the Best Financial Services Transaction in Africa 2017

Acquisition International

 

Verdant Capital’s successful sale of afb Ghana on behalf of JUMO World has been awarded the accolade, best financial services transaction in Africa 2017. Full financial details were not disclosed but at the time of sale, afb Ghana had total assets of GHS 97 million (approx. USD 23 million). JUMO World is a leading Africa fintech business, which elected to sell the afb Ghana when it ceased to be core to its operations.

The transaction was awarded the accolade in recognition of the breadth of interested generated in the transaction, including from local financial institutions, regional pan-African institutions and private equity.

The preferred bidder, Letshego Group Holdings, the leading pan-African inclusive financial institution completed the transaction in February of this year following Bank of Ghana approval. With the acquisition of Ghana, Letshego is present in eleven African countries. Letshego has total assets of BWP 8.7 billion (approx. USD 852 million) and a market cap or BWP 4.2 million (approx. USD 401 million).

The full list of winners globally is available on Acquisition Internationals website:
https://www.acq-intl.com/2017-november-2017

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