Apis Partners Agrees to Acquire a Minority Stake in MicroCred (Sub-Saharan Africa, Asia)

Source: Apis Partners

Apis Partners, a private equity asset manager focused on financial services in Africa and Asia, has agreed to acquire a minority stake in Africa- and Asia-focused financial services provider MicroCred Holdings. The company offers credit products, savings accounts and access to electronic payment services, and intends to accelerate the expansion of its products and customer base. Financial details of the transaction were not disclosed.