AfricInvest exits $6B AFG Holding after doubling banking assets
- AfricInvest sold its stake in AFG Holding, ending a successful partnership that began in 2022.
- AFG Holding's consolidated balance sheet increased from $3 billion to nearly $6 billion during AfricInvest's involvement.
- The bank’s loan portfolio grew from $1.4 billion to $2.5 billion, marking a 79% expansion.
The successful exit of AfricInvest from AFG Holding underscores the potential for growth in Africa's financial sector, particularly through strategic partnerships and acquisitions. It raises questions about the sustainability of such rapid growth and the ability of regional banks to maintain their competitive edge in an increasingly consolidated market.
