Abler Nordic, a partnership of public and private investors based in Denmark and Norway, recently sold its stake in Baobab Senegal for an undisclosed price to the latter’s parent company, Baobab Group, which operates microfinance institutions (MFIs) in Africa and China. Abler, known at the time as the Nordic Microfinance Initiative, bought the stake in 2012. Abler continues to hold a stake in Baobab Group.
“As we hand the baton on, we are very pleased with how the company has grown, the impressive social results they have achieved, and the solid returns generated for our investors,” said Abler Managing Director Arthur Sletteberg.
Over the past five years, Baobab Senegal has issued loans totaling CFA 670 billion (USD 1.1 billion) to 150,000 micro-, small and medium-sized enterprises (MSMEs). The MFI also offers savings and insurance, including via digital means. It has 59 branches and 439 agents.
Baobab Group is active in seven African countries and China, employing 4,000 people who serve 500,000 MSMEs. Its offerings include financial services and pay-as-you-go solar devices.
Established in 2008, Abler deploys USD 345 million via five funds in microfinance in Africa and Asia as of 2023. Its investees serve 9.6 million people, nearly all women, mostly who live in rural areas. The organization has offices in Denmark, Kenya, India, Indonesia and Norway.
Sources and Additional Resources
Abler press release
https://www.ablernordic.com/news/since-2012-abler-nordic-has–actively-partnered-with/
Baobab Senegal webpage
https://baobab.com/sn/
Baobab Group homepage
https://baobab.com/
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