Private equity firm LeapFrog buys $25M stake in financial technology company AFB Mauritius

LeapFrog Investments, the private equity firm with a focus on Africa and Asia, said it bought a minority stake in financial technology company AFB Mauritius Ltd. for $25 million in the fourth deal for its Fund II.

The Mauritian company, known as afb, gives consumers mobile-phone access to insurance, savings and credit products, LeapFrog said in an e-mailed statement from Johannesburg on Thursday. “afb is connecting the dots between Africa’s demand for financial services and the promise of new technologies,” Michael Joyce, an associate director for LeapFrog, said in the statement.

Read more: LeapFrog Buys $25 Million Stake in AFB Mauritius in Fourth Deal – Bloomberg Business.

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