Milost Global forms African banking platform
Fresh from making its first investment in Ghana a couple of weeks ago, Milost Global, a private equity firm based in New York announced the launch of Milost Bank Africa Ltd, or MBAL, a new financial services company which will seek buyout opportunities in the banking industry on the continent.
The platform company, which will be chaired by Cansi Jabez Lisa, plans to execute complete buyouts of operating banks, particularly in the ECOWAS and SADC regions, and rebrand them using the MBAL name, thereby creating a transcontinental network of financial institutions serving Africa’s emerging consumer class.
Milost Global, which has more than $25 billion in committed capital, is primarily a buyout investor, but also provides alternative capital, mezzanine finance and alternative lending solutions to companies across a wide range of industry sectors. The firm targets opportunities in a wide range of sectors across the globe.