Global law firm Norton Rose Fulbright has advised Development Partners International (DPI) on its US$54 million investment in Channel VAS Investment Limited (Channel Vas). DPI is a pan-Africa focused private equity firm.
Channel VAS provides mobile financial services, big data analytics and airtime credit services to mobile operators and financial institutions in more than 30 countries, enabling access to micro and nano loans including cash, handsets, airtime and data. Since the business began in 2012, it has helped clients serve hundreds of millions of customers in the region.
Bayo Odubeko, London-based corporate partner, who led on the deal commented:
"This is a great time to be investing in the financial services sector in sub-Saharan Africa as it continues to grow. We expect to see continued investment in this space."
Bayo Odubeko was assisted by associate Oji Adoh.
Norton Rose Fulbright previously advised funds managed by Ethos Private Equity on its acquisition of up to 20 per cent of Channel VAS Investment Limited (Channel Vas).