Local private equity firm, Africa Lighthouse Capital (ALC) has acquired a minority stake in financial lender Bayport Botswana.
The deal marks the full deployment of ALC’s Fund 1.
The value of the investment and specifics on the size of the Bayport remain undisclosed as the equity holders seek to keep the value of their stock private.
"We are acquiring a minority stake in Bayport Financial Services Botswana. This will mean our first fund will be fully invested," said ALC CEO, Bame Pule at a briefing today. "We are attracted to Bayport Botswana due to its amazing performance despite current economic difficulties."
Bayport is a financial lending institution with over 25,000 customers in Botswana. Most of the clients are public sector employees, participating through deduction at source agreements.
